Income Tax

News, Blog, Income Tax

February 24, 2022

Section 56(2)(x)- Should anti-abuse provisions be applied to genuine fresh issuance of shares?

Prachi Goel – [2022] 135 … Continue reading “Section 56(2)(x)- Should anti-abuse provisions be applied to genuine fresh issuance of shares?”

Blog, News, Income Tax

February 24, 2022

Penalty for non-payment of TDS

Case Details: Deccan Charters (P.) … Continue reading “Penalty for non-payment of TDS”

Blog, Income Tax

April 22, 2022

Method of Accounting: How far relevant for computing Business Income (PGBP)

Authored by – Himanshi Lodha … Continue reading “Method of Accounting: How far relevant for computing Business Income (PGBP)”

Blog, News, Income Tax

April 25, 2022

Employee’s contribution to ESI/PF deposited for AY 2018-19 before filing of ITR is eligible for deduction: ITAT

Case Details: Bromide Chemical Industries … Continue reading “Employee’s contribution to ESI/PF deposited for AY 2018-19 before filing of ITR is eligible for deduction: ITAT”

Blog, News, Income Tax

February 22, 2022

Lessee entitled for Sec. 35AD deduction though lessor constructed basic civil structure of building: ITAT

Case Details: Taj GVK Hotels … Continue reading “Lessee entitled for Sec. 35AD deduction though lessor constructed basic civil structure of building: ITAT”

Blog, News, Income Tax

February 21, 2022

Updated Return – Is it boon or bane for the taxpayers?

Harshit Khurana & Devashish Jain … Continue reading “Updated Return – Is it boon or bane for the taxpayers?”

Blog, News, Income Tax

February 21, 2022

AO shouldn’t act as a mere tax-gatherer; Stay application should ordinarily be disposed of in assessee’s favour: HC

Case Details: Harsh Dipak Shah … Continue reading “AO shouldn’t act as a mere tax-gatherer; Stay application should ordinarily be disposed of in assessee’s favour: HC”

Blog, News, Income Tax

February 19, 2022

Sales commission related to prior year isn’t allowable in absence of proof that it was contingent on realization of proceeds

Case Details: Meena Circuits (P.) … Continue reading “Sales commission related to prior year isn’t allowable in absence of proof that it was contingent on realization of proceeds”

News, Blog, Income Tax

June 28, 2022

Can taxpayers claim health & education cess as an allowable expenditure – Budget 2022 proposes retrospective disallowance

Sudeep Das & Ashwath Pai … Continue reading “Can taxpayers claim health & education cess as an allowable expenditure – Budget 2022 proposes retrospective disallowance”

Blog, News, Income Tax

February 18, 2022

AO can’t issue scrutiny notice for period covered by resolution plan approved by NCLT under IBC

Case Details: Sirpur Paper Mills … Continue reading “AO can’t issue scrutiny notice for period covered by resolution plan approved by NCLT under IBC”