Income Tax

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October 22, 2021

Right of ‘limited finality’ violated if reasoning adopted by CIT(A) for dismissing appeal not considered at assessment

Case Details: Energy Infratech (P.) … Continue reading “Right of ‘limited finality’ violated if reasoning adopted by CIT(A) for dismissing appeal not considered at assessment”

Blog, News, Income Tax

October 22, 2021

Rule 11UA amended in mid of Assessment Year is applicable for transactions occurred during whole AY: ITAT

Case Details: UKN Hospitality (P.) … Continue reading “Rule 11UA amended in mid of Assessment Year is applicable for transactions occurred during whole AY: ITAT”

Blog, News, Income Tax

October 21, 2021

Assessee can’t seek parallel remedy by filing writ on same day of lodging of objections before AO: Bombay HC

Case Details: John Sebastian Zezito … Continue reading “Assessee can’t seek parallel remedy by filing writ on same day of lodging of objections before AO: Bombay HC”

News, Blog, Income Tax

October 20, 2021

Passing order without disposing of request of adjournment is violation of principles of natural justice: HC

Case Details: Sudev Industries Ltd. … Continue reading “Passing order without disposing of request of adjournment is violation of principles of natural justice: HC”

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”

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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”

News, Blog, 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”

Blog, News, 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”