Income Tax

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August 13, 2021

No reassessment to disallow provision for bad debts if AO duly called for all details during original assessment: ITAT

Case details: District Co-operative Central … Continue reading “No reassessment to disallow provision for bad debts if AO duly called for all details during original assessment: ITAT”

Blog, News, Income Tax

August 12, 2021

Cost of land purchased by Co. to provide parking space to shop owners of its mall eligible for deduction: ITAT

Case details: Crown International v. … Continue reading “Cost of land purchased by Co. to provide parking space to shop owners of its mall eligible for deduction: ITAT”

News, Blog, Income Tax

August 12, 2021

CBDT notifies Rule for computation of tax relief on Book Profits increased due to APA/Secondary Adjustments

Notification No. 92/2021, dated 10-08-2021 … Continue reading “CBDT notifies Rule for computation of tax relief on Book Profits increased due to APA/Secondary Adjustments”

Blog, News, Income Tax

August 11, 2021

CBDT notifies rules to compute exemption & income taxable at concessional rates in hands of specified fund

Notification No. 90/2021, dated 09-08-2021 … Continue reading “CBDT notifies rules to compute exemption & income taxable at concessional rates in hands of specified fund”

Blog, News, Income Tax

August 10, 2021

No rectification just because a different view is taken by same ITAT in another case: HC

Case details: P.T. Manuel & … Continue reading “No rectification just because a different view is taken by same ITAT in another case: HC”

Blog, News, Income Tax

August 10, 2021

No legal requirement to intimate assessee before transferring its case to another AO within same city: ITAT

Case details: Jaswantlal J. Shah … Continue reading “No legal requirement to intimate assessee before transferring its case to another AO within same city: ITAT”

News, Blog, Income Tax

August 9, 2021

Application of ‘Doctrine of Relation Back’ in Income Tax

Shubham Gupta & Mallika Agarwal … Continue reading “Application of ‘Doctrine of Relation Back’ in Income Tax”

Blog, News, Income Tax

June 24, 2022

Undisclosed income of Co. admitted by Director during search operation not taxable in hands of Director: ITAT

Case details: JCIT v. Narayana … Continue reading “Undisclosed income of Co. admitted by Director during search operation not taxable in hands of Director: ITAT”

Blog, News, Income Tax

August 7, 2021

Taxmann’s Analysis of the Taxation Laws (Amendment) Bill, 2021

The issue of taxability of … Continue reading “Taxmann’s Analysis of the Taxation Laws (Amendment) Bill, 2021”

Blog, News, Income Tax

August 6, 2021

Sec. 115BBE not applicable on income surrendered by assessee if AO didn’t find unexplained credit in books: ITAT

Case details: Bajaj Sons Ltd. … Continue reading “Sec. 115BBE not applicable on income surrendered by assessee if AO didn’t find unexplained credit in books: ITAT”