Income Tax

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September 8, 2021

Cases not created on ITBA due to technical bugs or not having PAN to be excluded from Faceless Assessment: CBDT

Order F No. 187/3/2020-ITA-I, dated … Continue reading “Cases not created on ITBA due to technical bugs or not having PAN to be excluded from Faceless Assessment: CBDT”

News, Blog, Income Tax

September 8, 2021

CBDT prescribes manner for authenticating electronic records under EVC for faceless assessment

Notification No. 101/2021, dated 06-09-2021 … Continue reading “CBDT prescribes manner for authenticating electronic records under EVC for faceless assessment”

Blog, News, Income Tax

September 8, 2021

CBDT notifies procedure for handling assessment if case is transferred by NFAC to Jurisdictional AO

Notification F. No. 225/97/2021/ITA-II, dated … Continue reading “CBDT notifies procedure for handling assessment if case is transferred by NFAC to Jurisdictional AO”

News, Blog, Income Tax

September 7, 2021

Sec. 264 revision allowable against order of CIT(A) rejecting appeal filed by assessee as void ab initio: HC

Case details: S. Ravinder v. … Continue reading “Sec. 264 revision allowable against order of CIT(A) rejecting appeal filed by assessee as void ab initio: HC”

Blog, News, Income Tax

September 7, 2021

No deemed dividend on loan given to director for providing collateral to bank to obtain loan for Co.: HC

Case details: CIT v. N.S. … Continue reading “No deemed dividend on loan given to director for providing collateral to bank to obtain loan for Co.: HC”

Blog, News, Income Tax

September 6, 2021

Whole profit of project can’t be taxed in first year just because Co. received all payment through post-dated cheques

Case Details: Pearl Coschem (P.) … Continue reading “Whole profit of project can’t be taxed in first year just because Co. received all payment through post-dated cheques”

Blog, News, Income Tax

September 6, 2021

CBDT notifies Form 12BBA to be submitted by senior citizens wishing to claim benefit of Sec. 194P

Notification No. 99/2021, dated 02-09-2021 … Continue reading “CBDT notifies Form 12BBA to be submitted by senior citizens wishing to claim benefit of Sec. 194P”

Blog, Income Tax

September 6, 2021

iPad is not a computer; Depreciable at a lower rate

Apple iPad or Andriod Tablet … Continue reading “iPad is not a computer; Depreciable at a lower rate”

Blog, News, Income Tax

September 4, 2021

Chhattisgarh HC upholds issuance of sec. 148 notice under old provisions after 31-03-2021

Case details: Palak Khatuja v. … Continue reading “Chhattisgarh HC upholds issuance of sec. 148 notice under old provisions after 31-03-2021”

News, Blog, Income Tax

September 4, 2021

CBDT notifies ‘specified bank’ for the purpose of TDS u/s 194P in case of specified senior citizen

Notification No. 98/2021, dated 02-09-2021 … Continue reading “CBDT notifies ‘specified bank’ for the purpose of TDS u/s 194P in case of specified senior citizen”