Income Tax

Blog, News, Income Tax

August 27, 2021

Equalisation levy and its applicability on intra-group transactions

1. Background: In the last … Continue reading “Equalisation levy and its applicability on intra-group transactions”

Blog, News, Income Tax

August 26, 2021

Sec. 43CA applicable even if agreement for sale was entered prior to date when said section came into force: ITAT

Case details: Spytech Buildcon v. … Continue reading “Sec. 43CA applicable even if agreement for sale was entered prior to date when said section came into force: ITAT”

News, Blog, Income Tax

August 26, 2021

Excess of income over exp. can’t be a reason to hold that trust isn’t engaged in charitable activities: HC

Case details: CIT v. Angels … Continue reading “Excess of income over exp. can’t be a reason to hold that trust isn’t engaged in charitable activities: HC”

Blog, News, Income Tax

August 25, 2021

Invoking Doctrine of Manifest Arbitrariness and Positive Obligation in the Field of Taxation

Karan Kumar Khetani – [2021] … Continue reading “Invoking Doctrine of Manifest Arbitrariness and Positive Obligation in the Field of Taxation”

Blog, News, Income Tax

August 24, 2021

Amalgamating Co. liable to pay advance tax on income declared till Tribunal approved scheme of amalgamation: HC

Case details: GE India Industrial … Continue reading “Amalgamating Co. liable to pay advance tax on income declared till Tribunal approved scheme of amalgamation: HC”

News, Blog, Income Tax

August 24, 2021

No perversity in order of CIT(A) & ITAT if they allowed exp. after considering remand report submitted by AO: HC

Case details: CIT v. Karnataka … Continue reading “No perversity in order of CIT(A) & ITAT if they allowed exp. after considering remand report submitted by AO: HC”

Blog, News, Income Tax

May 12, 2022

Whether tax planning is a commercial decision or tax evasion?

Sanjiv Kumar Chaudhary – [2021] … Continue reading “Whether tax planning is a commercial decision or tax evasion?”

Blog, News, Income Tax

August 23, 2021

Assets installed at collection centers of laboratory situated at multiple locations eligible for additional dep.: ITAT

Case details: Metropolis Healthcare Ltd. … Continue reading “Assets installed at collection centers of laboratory situated at multiple locations eligible for additional dep.: ITAT”

News, Blog, Income Tax

August 21, 2021

Membership fee paid to stock exchange for acquiring right in membership is capital expenditure: ITAT

Case details: Unifi Capital (P.) … Continue reading “Membership fee paid to stock exchange for acquiring right in membership is capital expenditure: ITAT”

Blog, News, Income Tax

August 21, 2021

Exp. on partner’s foreign education allowable as firm secured several contracts due to expertise acquired by partner

Case details: Aswathanarayana & Eswara … Continue reading “Exp. on partner’s foreign education allowable as firm secured several contracts due to expertise acquired by partner”