Income Tax

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April 19, 2022

Rule 11U doesn’t mandate that Balance Sheet should be audited on date of valuation of shares: ITAT

Case Details: Electra Paper and … Continue reading “Rule 11U doesn’t mandate that Balance Sheet should be audited on date of valuation of shares: ITAT”

Blog, News, Income Tax

April 18, 2022

Retrospective Repeal of Section 144B(9): Opening Up of Pandora Box of Litigation?

Mayank Mohanka – [2022] 137 … Continue reading “Retrospective Repeal of Section 144B(9): Opening Up of Pandora Box of Litigation?”

Blog, News, Income Tax

April 18, 2022

Failure of AO to issue scrutiny notice in time couldn’t be cured by resorting to sec. 292BB: HC

Case Details: PCIT v. Cherian … Continue reading “Failure of AO to issue scrutiny notice in time couldn’t be cured by resorting to sec. 292BB: HC”

Blog, News, Income Tax

April 18, 2022

Time taken to cure defects in return not exempted while calculating interest under Sec. 244A: HC

Case Details: State Bank of … Continue reading “Time taken to cure defects in return not exempted while calculating interest under Sec. 244A: HC”

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June 27, 2022

Freebies and incentives get a bitter pill!

Jimit Shah, Shivali Valecha & … Continue reading “Freebies and incentives get a bitter pill!”

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April 15, 2022

SC stays HC’s order declaring assessment order non-est in view of repeal of Sec. 144B(9) by FA 2022

Case Details: National Faceless Assessment … Continue reading “SC stays HC’s order declaring assessment order non-est in view of repeal of Sec. 144B(9) by FA 2022”

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April 15, 2022

CIT to look at practical situation before treating cash deposits as unexplained income: ITAT

Case Details: Shergil Harjit v. … Continue reading “CIT to look at practical situation before treating cash deposits as unexplained income: ITAT”

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April 14, 2022

Revision petition u/s 264 not dismissible on grounds of alternative remedy of filing CIT(A): HC

Case Details: Sahil Machines India … Continue reading “Revision petition u/s 264 not dismissible on grounds of alternative remedy of filing CIT(A): HC”

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April 13, 2022

Rajasthan Electricity Regulatory Commission to be exempted under section 10(46): CBDT

Notification No. 30/2022, dated 11-04-2022 … Continue reading “Rajasthan Electricity Regulatory Commission to be exempted under section 10(46): CBDT”

Blog, News, Income Tax

April 13, 2022

Expense to raise floor height of warehouse during monsoon is revenue exp.: HC

Case Details: Jetha Properties (P.) … Continue reading “Expense to raise floor height of warehouse during monsoon is revenue exp.: HC”