Income Tax

Blog, News, Income Tax

November 12, 2021

Cost incurred in acquisition of shares of Co. can’t be treated as a cost of project for Sec. 35D deduction: HC

Case Details: Subex Ltd. v. … Continue reading “Cost incurred in acquisition of shares of Co. can’t be treated as a cost of project for Sec. 35D deduction: HC”

News, Blog, Income Tax

November 12, 2021

Opinion: Wives Can Get and Forget Cash Loans

Meenakshi Subramaniam – [2021] 132 … Continue reading “Opinion: Wives Can Get and Forget Cash Loans”

Blog, News, Income Tax

November 11, 2021

Disallowed portion of interest exp. forms part of income; eligible for Sec. 80P deduction: HC

Case Details: PCIT v Ettumanoor … Continue reading “Disallowed portion of interest exp. forms part of income; eligible for Sec. 80P deduction: HC”

Blog, News, Income Tax

November 11, 2021

Need to reform ordinary rule of prosecution and return filing mechanism

Gopal Nathani – [2021] 132 … Continue reading “Need to reform ordinary rule of prosecution and return filing mechanism”

News, Blog, Income Tax

November 10, 2021

Not providing personal hearing in faceless assessment is a violation of principle of natural justice: Delhi HC

Case Details: Umkal Healthcare (P.) … Continue reading “Not providing personal hearing in faceless assessment is a violation of principle of natural justice: Delhi HC”

Blog, News, Income Tax

November 10, 2021

AO couldn’t reject books of account merely on the grounds of decline in gross profit over past year: ITAT

Case Details: Sanjay Agarwal v. … Continue reading “AO couldn’t reject books of account merely on the grounds of decline in gross profit over past year: ITAT”

Blog, News, Income Tax

November 9, 2021

Interest paid by Builder on failure to construct flat is compensatory in nature out of preview of sec. 194A: HC

Case Details: Sainath Rajkumar Sarode … Continue reading “Interest paid by Builder on failure to construct flat is compensatory in nature out of preview of sec. 194A: HC”

Blog, Income Tax

November 9, 2021

Form 26AS in a New Avatar | How to Access Annual Information Statement (AIS) Online?

Annual information statement is a … Continue reading “Form 26AS in a New Avatar | How to Access Annual Information Statement (AIS) Online?”

Blog, News, Income Tax

November 8, 2021

ITAT allowed sec. 54 relief to woman who purchased new house jointly in name of married daughter & son-in-law

Case Details: ITO v. Smt. … Continue reading “ITAT allowed sec. 54 relief to woman who purchased new house jointly in name of married daughter & son-in-law”

Blog, News, Income Tax

March 4, 2022

Sum received from husband with no intention to repay isn’t loan; no violation of Sec. 269SS: ITAT

Case Details: Smt. Meera Devi … Continue reading “Sum received from husband with no intention to repay isn’t loan; no violation of Sec. 269SS: ITAT”