Income Tax

Blog, News, Income Tax

October 2, 2024

Sworn Statement Recorded u/s 132(4) of IT Act Can Be Relied Upon in Proceedings Under PBPT Act

Case Details: K. R. Radhakrishnan … Continue reading “Sworn Statement Recorded u/s 132(4) of IT Act Can Be Relied Upon in Proceedings Under PBPT Act”

Blog, News, Income Tax

August 31, 2024

ITAT Restricted Penalty to 50% as AO Nowhere Stated That Clause (8) of Sec. 270A Was Applicable

Case Details: Ashok Kumar Gupta … Continue reading “ITAT Restricted Penalty to 50% as AO Nowhere Stated That Clause (8) of Sec. 270A Was Applicable”

News, Blog, Income Tax

August 30, 2024

[Opinion] Which Ruling Should Be Applied If Two Non-Jurisdictional Courts Make Conflicting Decisions?

Mukesh Kohli – [2024] 165 … Continue reading “[Opinion] Which Ruling Should Be Applied If Two Non-Jurisdictional Courts Make Conflicting Decisions?”

Blog, News, Income Tax

August 30, 2024

No Penalty u/s 270A as Loss Declared Under ‘Income from Other Sources’ Couldn’t Be Set Off or Carried Forward | ITAT

Case Details: Badaud Shri Vardhaman … Continue reading “No Penalty u/s 270A as Loss Declared Under ‘Income from Other Sources’ Couldn’t Be Set Off or Carried Forward | ITAT”

Blog, News, Income Tax

August 29, 2024

[Opinion] Jao’s Jurisdiction Over Faceless Assessments | A Legal Perspective on Section 148 Notices

CA Kamala Pulugundla Shethiya – … Continue reading “[Opinion] Jao’s Jurisdiction Over Faceless Assessments | A Legal Perspective on Section 148 Notices”

Blog, News, Income Tax

August 29, 2024

CIT(E) Can’t Reject Trust’s Registration Application Based on Only One Clause of Trust Deed | ITAT

Case Details: Shah Gulabchand Mulchand … Continue reading “CIT(E) Can’t Reject Trust’s Registration Application Based on Only One Clause of Trust Deed | ITAT”

Blog, Income Tax

August 28, 2024

Taxation of Cooperatives in India – Key Provisions | Deductions | Concessional Tax Rates

The taxation framework for cooperatives … Continue reading “Taxation of Cooperatives in India – Key Provisions | Deductions | Concessional Tax Rates”

Blog, Advisory, Income Tax

August 27, 2024

[Analysis] Capital Gains Scheme Account – Why Deposits Won’t Reduce Taxes from 20% to 12.5%?

The Capital Gains Account Scheme … Continue reading “[Analysis] Capital Gains Scheme Account – Why Deposits Won’t Reduce Taxes from 20% to 12.5%?”

Blog, News, Income Tax

August 27, 2024

AO’s Order Wasn’t Erroneous if He Applied Beneficial Provision Basis of Article 7 of India-UAE DTAA | ITAT

Case Details: Avana Global FZCO … Continue reading “AO’s Order Wasn’t Erroneous if He Applied Beneficial Provision Basis of Article 7 of India-UAE DTAA | ITAT”

Blog, Advisory, Income Tax

August 25, 2024

[Analysis] Block Assessment Scheme under the Finance (No. 2) Act 2024

The block assessment scheme is … Continue reading “[Analysis] Block Assessment Scheme under the Finance (No. 2) Act 2024”