Income Tax

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January 25, 2022

Transferring case to facilitate authorities to do an effective & co-ordinate investigation & assessment is valid: HC

Case Details: Varun Raj Pillai … Continue reading “Transferring case to facilitate authorities to do an effective & co-ordinate investigation & assessment is valid: HC”

News, Blog, Income Tax

January 22, 2022

No benefit of violation of principles of natural justice if assessee repeatedly failed to respond to various notices: HC

Case Details: Chams Branding Solutions … Continue reading “No benefit of violation of principles of natural justice if assessee repeatedly failed to respond to various notices: HC”

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January 22, 2022

Declaration of undisclosed income to “buy peace” does not renders an assessee immunity from initiation and levy of penalty

Mohit Gupta – [2022] 134 … Continue reading “Declaration of undisclosed income to “buy peace” does not renders an assessee immunity from initiation and levy of penalty”

Blog, News, Income Tax

January 21, 2022

CBDT amends Securities Transaction Tax Rules to include Insurance Cos

Notification No. 9/2022, dated 18-01-2022 … Continue reading “CBDT amends Securities Transaction Tax Rules to include Insurance Cos”

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January 21, 2022

CBDT notifies e-Advance Rulings Scheme, 2022; applicable w.e.f. 18-01-2022

Notification No. 07/2022, dated 18-01-2022 … Continue reading “CBDT notifies e-Advance Rulings Scheme, 2022; applicable w.e.f. 18-01-2022”

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January 20, 2022

CBDT issues clarifications on applicability of Sec. 10(10D) exemption on sum received from ULIPs

Circular No. 2 of 2022, … Continue reading “CBDT issues clarifications on applicability of Sec. 10(10D) exemption on sum received from ULIPs”

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January 20, 2022

CBDT notifies Rule to compute capital gains on sum received from ULIPs not exempt u/s 10(10D)

Notification No. 8/2022, dated 18-01-2022 … Continue reading “CBDT notifies Rule to compute capital gains on sum received from ULIPs not exempt u/s 10(10D)”

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January 19, 2022

Forex loss arising on loan obtained from Foreign Currency Non-Resident a/c for business purpose is allowable: HC

Case Details: PCIT v. United … Continue reading “Forex loss arising on loan obtained from Foreign Currency Non-Resident a/c for business purpose is allowable: HC”

Blog, Income Tax

January 2, 2023

FAQs based on Section 9B of the Income-tax Act, 1961

Section 9B of the Income-tax … Continue reading “FAQs based on Section 9B of the Income-tax Act, 1961”

Blog, News, Income Tax

January 18, 2022

ITAT cautions against use of inappropriate choice of words to make baseless allegations against CIT(A)

Case Details: Abdul Wahab v. … Continue reading “ITAT cautions against use of inappropriate choice of words to make baseless allegations against CIT(A)”