Income Tax

News, Blog, Income Tax

December 3, 2021

No denial of Sec. 12A registration just because carrying out research in settler’s hospital would lead to commercial activity

Case details: Artemis Education & … Continue reading “No denial of Sec. 12A registration just because carrying out research in settler’s hospital would lead to commercial activity”

Blog, News, Income Tax

December 3, 2021

Tax Dept. conducts search operations on leading group of Pune; detects unaccounted income of more than Rs. 400 crore

Press Release, dated 02-12-2021 The … Continue reading “Tax Dept. conducts search operations on leading group of Pune; detects unaccounted income of more than Rs. 400 crore”

Blog, News, Income Tax

December 2, 2021

Compensation received from builder for its failure to deliver flats in time taxable under head capital gains: ITAT

Case Details: Smt. Abha Bansal … Continue reading “Compensation received from builder for its failure to deliver flats in time taxable under head capital gains: ITAT”

Blog, News, Income Tax

December 2, 2021

Allowability of foreign taxes paid as business expenditure under the Income-tax Act, 1961 – A possibility?

Sudeep Das & Ashwath Pai … Continue reading “Allowability of foreign taxes paid as business expenditure under the Income-tax Act, 1961 – A possibility?”

News, Blog, Income Tax

December 1, 2021

Interesting decisions making certain amendments retrospective/prospective

V. K. Subramani – [2021] … Continue reading “Interesting decisions making certain amendments retrospective/prospective”

Blog, News, Income Tax

December 1, 2021

Sec. 263 revision can be exercised if appeal was filed against order of AO but CIT(A)’s decision is pending: ITAT

Case Details: R Industries v. … Continue reading “Sec. 263 revision can be exercised if appeal was filed against order of AO but CIT(A)’s decision is pending: ITAT”

Blog, News, Income Tax

November 30, 2021

AO to allow TDS credit to employee even if TDS isn’t deposited by employer: Gujarat HC

Case Details: Kartik Vijaysinh Sonavane … Continue reading “AO to allow TDS credit to employee even if TDS isn’t deposited by employer: Gujarat HC”

News, Blog, Income Tax

November 29, 2021

Offsetting sales tax liability against purchase input to be deemed as actual payment eligible for Sec. 43B relief: HC

Case Details: Merck Ltd. v. … Continue reading “Offsetting sales tax liability against purchase input to be deemed as actual payment eligible for Sec. 43B relief: HC”

Blog, News, Income Tax

November 29, 2021

Remand of a case to Dispute Resolution Panel – No time limit for passing order by DRP?

Ashish Karundia & Sukh Sagar … Continue reading “Remand of a case to Dispute Resolution Panel – No time limit for passing order by DRP?”

Blog, News, Income Tax

November 27, 2021

India and USA agree on transitional approach on equalization levy on e-commerce operators: FinMin

Press Release, dated 24-11-2021 On … Continue reading “India and USA agree on transitional approach on equalization levy on e-commerce operators: FinMin”