Income Tax

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January 13, 2022

No Sec. 194D TDS on exp. incurred in foreign travel of insurance agents if sum paid directly to services providers: HC

Case Details: CIT v. SBI … Continue reading “No Sec. 194D TDS on exp. incurred in foreign travel of insurance agents if sum paid directly to services providers: HC”

Blog, News, Income Tax

January 13, 2022

Do the provisions of section 10(23C) deserve amendments and merger with sections 11 to 13?

V. K. SUBRAMANI – [2022] … Continue reading “Do the provisions of section 10(23C) deserve amendments and merger with sections 11 to 13?”

Blog, News, Income Tax

January 12, 2022

Payment of tax is sufficient to allow withdrawal from Capital Gain Account Scheme; HC directs AO to issue NOC

Case details: Rashesh Shirish Sanjanwala … Continue reading “Payment of tax is sufficient to allow withdrawal from Capital Gain Account Scheme; HC directs AO to issue NOC”

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January 12, 2022

Due date for filing of audit reports & ITRs extended to February 15, 2022 & March 15, 2022 respectively: CBDT

Circular no. 1/2022, dated 11-01-2022 … Continue reading “Due date for filing of audit reports & ITRs extended to February 15, 2022 & March 15, 2022 respectively: CBDT”

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January 11, 2022

TDS obligations u/s 194H arises only when assessee makes payment or give credit to payee account: HC

Case Details: CIT v. Super … Continue reading “TDS obligations u/s 194H arises only when assessee makes payment or give credit to payee account: HC”

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January 11, 2022

CBDT notifies ‘Regional Air Connectivity Fund Trust’ for exemption under section 10(46)

Notification No. 1/2022, dated 06-01-2022 … Continue reading “CBDT notifies ‘Regional Air Connectivity Fund Trust’ for exemption under section 10(46)”

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January 7, 2022

Day of arrival to be excluded while counting days of stay in India for the purpose of residential status: ITAT

Case details: Pradeep Kumar Joshi … Continue reading “Day of arrival to be excluded while counting days of stay in India for the purpose of residential status: ITAT”

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January 6, 2022

Aerators used for prawn farming can’t be treated as equipment for pollution control; not eligible for 100% dep.: HC

Case Details: Industrial Incubators (P.) … Continue reading “Aerators used for prawn farming can’t be treated as equipment for pollution control; not eligible for 100% dep.: HC”

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January 6, 2022

DRP can’t condone delay in filing objections by assessee before Panel: Bangalore ITAT

Case Details: Lam Research (India) … Continue reading “DRP can’t condone delay in filing objections by assessee before Panel: Bangalore ITAT”

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January 5, 2022

Word ‘exclusively’ used in Sec. 40(a)(iib) can’t be defeated if Govt. issued licence to more than one undertaking: SC

Case Details: Kerala State Beverages … Continue reading “Word ‘exclusively’ used in Sec. 40(a)(iib) can’t be defeated if Govt. issued licence to more than one undertaking: SC”