Income Tax

News, Blog, Income Tax

October 4, 2021

AO can’t withhold refund to adjust it with demand if no such demand exists at time of refund declaration: HC

Case Details: Mcnally Sayaji Engineering … Continue reading “AO can’t withhold refund to adjust it with demand if no such demand exists at time of refund declaration: HC”

Blog, News, Income Tax

October 4, 2021

Is possession of property a pre-requisite for allowance of interest deduction?

V. K. SUBRAMANI – [2021] … Continue reading “Is possession of property a pre-requisite for allowance of interest deduction?”

Blog, News, Income Tax

October 1, 2021

CBDT further extends time limit to process refund claimed ITRs filed up to AY 2017-18 to 30-11-21

Order F.No. 225/98/2020-ITA-II, dated 30-09-2021 … Continue reading “CBDT further extends time limit to process refund claimed ITRs filed up to AY 2017-18 to 30-11-21”

Blog, News, Income Tax

October 7, 2021

No employer-employee relationship exists if doctors were paid on basis of number of patients attended: ITAT

Case Details: DCIT v. Sir … Continue reading “No employer-employee relationship exists if doctors were paid on basis of number of patients attended: ITAT”

News, Blog, Income Tax

September 30, 2021

CBDT authorised CIT to admit and process application filed before Interim Board by extended due date of 30-09-21

Order F.no. 299/22/2021-DIR (INV. III)/174, … Continue reading “CBDT authorised CIT to admit and process application filed before Interim Board by extended due date of 30-09-21”

Blog, News, Income Tax

September 30, 2021

Sum reflected in Form 26AS can’t be tax unless it was established that assessee was actual beneficiary: ITAT

Case Details: Dr Swati Mahesh … Continue reading “Sum reflected in Form 26AS can’t be tax unless it was established that assessee was actual beneficiary: ITAT”

Blog, News, Income Tax

September 29, 2021

MCA extends due date of filing of cost audit report in e-form CRA-4 for F.Y. 2020-21

CIRCULAR NO. 15/2021, Dated 27.09.2021 … Continue reading “MCA extends due date of filing of cost audit report in e-form CRA-4 for F.Y. 2020-21”

Blog, News, Income Tax

September 29, 2021

Taxman v. BCCI – To Grant Tax Exemption or Not?

Prabhakar K S – [2021] … Continue reading “Taxman v. BCCI – To Grant Tax Exemption or Not?”

News, Blog, Income Tax

September 29, 2021

M2M loss arising on valuation of forward contract on closing date of accounting year allowable as business loss: ITAT

Case Details: VVF (India) Ltd. … Continue reading “M2M loss arising on valuation of forward contract on closing date of accounting year allowable as business loss: ITAT”

Blog, News, Income Tax

September 28, 2021

Assessment Orders u/s 144C(1) incurably Defective and Illegal if they don’t comply with Non-Obstante Provisions

Ashutosh Mohan Rastogi, Dhruv Seth … Continue reading “Assessment Orders u/s 144C(1) incurably Defective and Illegal if they don’t comply with Non-Obstante Provisions”