Income Tax

Blog, News, Income Tax

October 20, 2021

Sum set-aside as debenture redemption reserve couldn’t be considered as a reserve for computing book profits: ITAT

Case Details: ACIT v. India … Continue reading “Sum set-aside as debenture redemption reserve couldn’t be considered as a reserve for computing book profits: ITAT”

Blog, News, Income Tax

October 19, 2021

CBDT extends provisions of Rules 11UE & 11UF to Section 119 of Finance Act, 2012

Notification No. 120/2021, dated 13-10-2021 … Continue reading “CBDT extends provisions of Rules 11UE & 11UF to Section 119 of Finance Act, 2012”

Blog, News, Income Tax

April 27, 2022

ITAT recommends constitution of larger bench to decide allowability of exp. on freebies to medical professionals

Case Details: DCIT v. Macleods … Continue reading “ITAT recommends constitution of larger bench to decide allowability of exp. on freebies to medical professionals”

News, Blog, Income Tax

October 18, 2021

HC quashes assessment order passed by AO without application of mind; cost to be recover from him if such order continues

Case Details: Mantra Industries Ltd. … Continue reading “HC quashes assessment order passed by AO without application of mind; cost to be recover from him if such order continues”

Blog, News, Income Tax

October 16, 2021

Writing off security deposit is allowable if Co. discontinued its business for which such deposit was made: HC

Case Details:CIT v. Pricol Ltd. … Continue reading “Writing off security deposit is allowable if Co. discontinued its business for which such deposit was made: HC”

Blog, News, Income Tax

October 16, 2021

Addressing a unique mind challenge – Tracking the current statutory deadlines

Ketan Ved, Samir Parekh, Avani … Continue reading “Addressing a unique mind challenge – Tracking the current statutory deadlines”

News, Blog, Income Tax

October 13, 2021

CBDT exempts certain non-residents from furnishing ITR subject to fulfillment of conditions

Notification No. 119, dated 11-10-2021 … Continue reading “CBDT exempts certain non-residents from furnishing ITR subject to fulfillment of conditions”

Blog, News, Income Tax

October 13, 2021

Date of passing of order by CIT to be considered while computing limitation period for revisional proceedings: SC

Case Details: CIT v. Mohammed … Continue reading “Date of passing of order by CIT to be considered while computing limitation period for revisional proceedings: SC”

Blog, Income Tax

October 25, 2023

Income from House Property – Exemption, Relief and Practice Questions

Introduction Income is taxable under … Continue reading “Income from House Property – Exemption, Relief and Practice Questions”

Blog, News, Income Tax

October 12, 2021

Credit received from supplier for choosing its engines in aircraft to be purchased is capital receipt: ITAT

Case Details: InterGlobe Aviation Limited … Continue reading “Credit received from supplier for choosing its engines in aircraft to be purchased is capital receipt: ITAT”