Income Tax

Blog, News, Income Tax

August 5, 2022

Only land is eligible for sec. 54 benefit if house constructed was sold within same year of construction: ITAT

Case Details: Smt. Seema Shah … Continue reading “Only land is eligible for sec. 54 benefit if house constructed was sold within same year of construction: ITAT”

Blog, News, Income Tax

August 5, 2022

CBDT notifies ‘Bullion Depository Receipt with underlying bullion’ for Sec. 47(viiab) exemption

Notification No. 89/2022, dated 03-08-2022 … Continue reading “CBDT notifies ‘Bullion Depository Receipt with underlying bullion’ for Sec. 47(viiab) exemption”

Blog, News, Income Tax

November 1, 2022

Income Tax Department conducts search operations in Gujarat

Press Release, dated 02-08-2022 The … Continue reading “Income Tax Department conducts search operations in Gujarat”

Blog, News, Income Tax

August 4, 2022

CIT can’t impose conditions on trust while granting registration u/s 12AB: Mumbai ITAT

Case Details: Bai Navajbai Tata … Continue reading “CIT can’t impose conditions on trust while granting registration u/s 12AB: Mumbai ITAT”

News, Blog, Income Tax

August 3, 2022

[Opinion] Mandatory v. Directory Conditions – Pandora’s box opened again?

Bharathi Krishnaprasad & Rahul Jain … Continue reading “[Opinion] Mandatory v. Directory Conditions – Pandora’s box opened again?”

Blog, News, Income Tax

August 3, 2022

No Section 194C TDS on FMV of by-product arose from paddy milling: ITAT

Case Details: Assistant Commissioner of … Continue reading “No Section 194C TDS on FMV of by-product arose from paddy milling: ITAT”

Blog, News, Income Tax

August 2, 2022

SC refers matter to larger bench to decide issue whether assessee can challenge certificate issued u/s 197

Case Details: National Petroleum Construction … Continue reading “SC refers matter to larger bench to decide issue whether assessee can challenge certificate issued u/s 197”

Blog, News, Income Tax

August 2, 2022

CBDT reduces time limit to verify ITR from 120 days to 30 days

Notification no. 5/2022, dated 29-07-2022 … Continue reading “CBDT reduces time limit to verify ITR from 120 days to 30 days”

Blog, News, Income Tax

August 1, 2022

Sum disallowed u/s 14A can’t be added to net profit while computing book profit for MAT purposes: ITAT

Case Details: ACIT v. Geometric … Continue reading “Sum disallowed u/s 14A can’t be added to net profit while computing book profit for MAT purposes: ITAT”

Blog, News, Income Tax

August 1, 2022

[Analysis] Obligations to Deduct Tax at Source u/s 194R & CBDT Circular No. 12/2022

Ved Jain – [2022] 140 … Continue reading “[Analysis] Obligations to Deduct Tax at Source u/s 194R & CBDT Circular No. 12/2022”