Income Tax

News, Blog, Income Tax

November 17, 2021

Tax Dept. sets up ‘Taxpayer’s Lounge’ in India International Trade Fair, 2021 at Pragati Maidan

Press Release, dated 14-11-2021 The … Continue reading “Tax Dept. sets up ‘Taxpayer’s Lounge’ in India International Trade Fair, 2021 at Pragati Maidan”

Blog, News, Income Tax

November 16, 2021

BCCI isn’t engaged in commercial activities as funds generated from IPL are used for promoting cricket: ITAT

Case Details: Board of Control … Continue reading “BCCI isn’t engaged in commercial activities as funds generated from IPL are used for promoting cricket: ITAT”

Blog, News, Income Tax

November 16, 2021

Equity and the provisions of Income Tax Law in India

Neeraj Gupta – [2021] 132 … Continue reading “Equity and the provisions of Income Tax Law in India”

Blog, News, Income Tax

November 15, 2021

Disallowance under sec. 40A(2) without a comparable to prove the excessive payment is not justified: ITAT

Case Details: Bright Enterprises (P.) … Continue reading “Disallowance under sec. 40A(2) without a comparable to prove the excessive payment is not justified: ITAT”

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”

Blog, News, 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”

News, Blog, 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”

Blog, News, 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”