Income Tax

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September 24, 2021

Reassessment/set-aside cases where time limit for complication expires on 30-9-21 to be excluded from Sec. 144B

Order F No. 187/3/2020-ITA-I, dated … Continue reading “Reassessment/set-aside cases where time limit for complication expires on 30-9-21 to be excluded from Sec. 144B”

Blog, News, Income Tax

September 24, 2021

No exemption u/s 10(23C) if fees charged by hospital is at par with other hospitals running on commercial basis: SC

Case details: Ashwini Sahakari Rugnalaya … Continue reading “No exemption u/s 10(23C) if fees charged by hospital is at par with other hospitals running on commercial basis: SC”

Blog, News, Income Tax

September 23, 2021

No cessation of liability if proceedings for recovery of amount from assessee were pending before court: ITAT

Case details: DCIT v. Surbhit … Continue reading “No cessation of liability if proceedings for recovery of amount from assessee were pending before court: ITAT”

Blog, News, Income Tax

September 23, 2021

Interest on borrowed capital from the date of ‘Trial Run’ till date of commercial start to be treated as revenue expenditure: Delhi ITAT

Case details: ACIT, Central Circle-19, … Continue reading “Interest on borrowed capital from the date of ‘Trial Run’ till date of commercial start to be treated as revenue expenditure: Delhi ITAT”

Blog, News, Income Tax

September 22, 2021

AO can’t disregard a transaction just because it results in tax advantage to assessee: Mumbai ITAT

Case details: Michael E Desa … Continue reading “AO can’t disregard a transaction just because it results in tax advantage to assessee: Mumbai ITAT”

Blog, News, Income Tax

September 22, 2021

Tax Dept. conducts searches in premises linked to politician ‘Anil Deshmukh’; found concealment of income of Rs. 17 crore

Press Release, dated 20-09-21 The … Continue reading “Tax Dept. conducts searches in premises linked to politician ‘Anil Deshmukh’; found concealment of income of Rs. 17 crore”

Blog, News, Income Tax

September 21, 2021

Exp. incurred by ‘Apollo Tyres’ to purchase equipments for its dealer’s showroom is capital expenditure: HC

Case details: Apollo Tyres Ltd. … Continue reading “Exp. incurred by ‘Apollo Tyres’ to purchase equipments for its dealer’s showroom is capital expenditure: HC”

Blog, News, Income Tax

September 21, 2021

Taxmann launches ‘Practice – Your Virtual Legal Advisor’

Taxmann is delighted to introduce … Continue reading “Taxmann launches ‘Practice – Your Virtual Legal Advisor’”

News, Blog, Income Tax

September 20, 2021

CBDT extends due dates for linking Aadhaar-PAN, completion of penalty & Benami proceedings

Notification No. 113/2021, dated 17-09-2021 … Continue reading “CBDT extends due dates for linking Aadhaar-PAN, completion of penalty & Benami proceedings”

Blog, News, Income Tax

September 20, 2021

No Sec. 194A TDS on interest paid to resident of Scheduled Tribes areas specified u/s 10(26) Notification No. 110/2021, dated 17-09-2021

The Central Government has relaxed … Continue reading “No Sec. 194A TDS on interest paid to resident of Scheduled Tribes areas specified u/s 10(26) Notification No. 110/2021, dated 17-09-2021”