Income Tax

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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”

Blog, News, 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”

News, Blog, 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”

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November 27, 2021

Exemption from TDS u/s 194C can’t be denied even if payer didn’t furnish transporter details in Form 26Q

Case Details: Mohmed Shakil Mohmed … Continue reading “Exemption from TDS u/s 194C can’t be denied even if payer didn’t furnish transporter details in Form 26Q”

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November 26, 2021

CBDT issues more clarifications on deduction and collection of tax at source under sections 194-O, 194Q & 206C(1H)

Circular 20 of 2021, dated … Continue reading “CBDT issues more clarifications on deduction and collection of tax at source under sections 194-O, 194Q & 206C(1H)”

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November 25, 2021

CBDT notifies new Form 52A to be furnished by producers of cinematograph films

Notification No. 132/2021, dated 23-11-2021 … Continue reading “CBDT notifies new Form 52A to be furnished by producers of cinematograph films”

Blog, News, Income Tax

November 24, 2021

Tax Dept. conducts search and seizure operation in Gujarat; unaccounted income of more than Rs. 100 crore unearthed

Press Release, dated 21-11-2021 The … Continue reading “Tax Dept. conducts search and seizure operation in Gujarat; unaccounted income of more than Rs. 100 crore unearthed”

Blog, News, Income Tax

November 23, 2021

Selling flats at amount lesser than stamp duty justified as flats had no parking space & electricity connection: ITAT

Case Details: Peerless General Finance … Continue reading “Selling flats at amount lesser than stamp duty justified as flats had no parking space & electricity connection: ITAT”