Income Tax

Blog, News, Income Tax

November 3, 2021

CBDT rolls out Annual Information Statement (AIS) to provide details of taxpayer’s financial info.

Press release, dated 01-11-2021 The … Continue reading “CBDT rolls out Annual Information Statement (AIS) to provide details of taxpayer’s financial info.”

Blog, News, Income Tax

November 2, 2021

ESOP allowability and its impact on Corporate Inc.

Sanjiv Kumar Chaudhary – [2021] … Continue reading “ESOP allowability and its impact on Corporate Inc.”

Blog, News, Income Tax

November 2, 2021

Burden of proof on assessee to establish that non-filing of ITR was not willful; HC upholds prosecution

Case Details: Raman Krishna Kumar … Continue reading “Burden of proof on assessee to establish that non-filing of ITR was not willful; HC upholds prosecution”

Blog, News, Income Tax

November 1, 2021

No concealment penalty if an amount is excluded from head PGBP and taxed as unexplained income: ITAT

Case Details: Deepak Wadhwa v. … Continue reading “No concealment penalty if an amount is excluded from head PGBP and taxed as unexplained income: ITAT”

News, Blog, Income Tax

November 1, 2021

Legitimate Tax Planning Legal, Not Illegal?

Prabhakar K S – [2021] … Continue reading “Legitimate Tax Planning Legal, Not Illegal?”

News, Blog, Income Tax

October 30, 2021

Exp. incurred on converting land from leasehold to freehold to be treated as cost of improvement: ITAT

Case Details: Sanjay Majumdar v. … Continue reading “Exp. incurred on converting land from leasehold to freehold to be treated as cost of improvement: ITAT”

Blog, News, Income Tax

October 30, 2021

Delhi High Court notifies rules for video conferencing; allows public to view court proceedings

Notification No. 348/Rules/DHC, dated 26-10-2021 … Continue reading “Delhi High Court notifies rules for video conferencing; allows public to view court proceedings”

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March 4, 2022

It can’t be interpreted that assessee waived off hearing right if he submitted written submission before CIT(A): ITAT

Case Details: Sukhvinder Pal Singh … Continue reading “It can’t be interpreted that assessee waived off hearing right if he submitted written submission before CIT(A): ITAT”

Blog, News, Income Tax

October 28, 2021

Excess share of land received by assessee in executing of partition deed with co-owner can’t be taxed u/s 28: ITAT

Case details: ITO v. Undavalli … Continue reading “Excess share of land received by assessee in executing of partition deed with co-owner can’t be taxed u/s 28: ITAT”

Blog, News, Income Tax

October 28, 2021

Sec. 10(23FE) exemption is available only if source of investment in India is not from any borrowings: CBDT

Circular No. 19/2021, dated 26-10-2021 … Continue reading “Sec. 10(23FE) exemption is available only if source of investment in India is not from any borrowings: CBDT”