Income Tax

Blog, News, Income Tax

August 2, 2021

Business loss can be set off against income having attributes of business income even if same isn’t assessable under PGBP: HC

Case details: Nandi Steels Ltd. … Continue reading “Business loss can be set off against income having attributes of business income even if same isn’t assessable under PGBP: HC”

Blog, News, Income Tax

August 2, 2021

No additions if cash deposits during demonetization was actual cash sales of assessee supported with bills: ITAT

Case details: ACIT v. Hirapanna … Continue reading “No additions if cash deposits during demonetization was actual cash sales of assessee supported with bills: ITAT”

Blog, News, Income Tax

August 2, 2021

Tax Dept. conducts search on prominent group in Jharkhand engaged in real estate

Press Release, dated 29-07-2021 The … Continue reading “Tax Dept. conducts search on prominent group in Jharkhand engaged in real estate”

Blog, Income Tax

August 2, 2021

Conducting Inquiry, Providing Opportunity before Issue of Notice under Section 148 – Section 148A

Topics covered in this article … Continue reading “Conducting Inquiry, Providing Opportunity before Issue of Notice under Section 148 – Section 148A”

Blog, Income Tax

November 28, 2023

All-About the Residential Status in Income Tax

Table of Contents: 1. What … Continue reading “All-About the Residential Status in Income Tax”

Blog, News, Income Tax

July 31, 2021

CBDT omits certain rules & Forms; Board to specify e-filing of forms which are prescribed in Appendix II

The Central Board of Direct … Continue reading “CBDT omits certain rules & Forms; Board to specify e-filing of forms which are prescribed in Appendix II”

News, Blog, Income Tax

July 31, 2021

Business loss can be set off against income having attributes of business income even if same isn’t assessable under PGBP: HC

Case details: Nandi Steels Ltd. … Continue reading “Business loss can be set off against income having attributes of business income even if same isn’t assessable under PGBP: HC”

Blog, News, Income Tax

July 30, 2021

No additions if AO failed to contradict assessee’s contention that he didn’t deposit cash in his bank a/c: ITAT

Case details: Ashok Kumar v. … Continue reading “No additions if AO failed to contradict assessee’s contention that he didn’t deposit cash in his bank a/c: ITAT”

Blog, News, Income Tax

July 29, 2021

Net Direct Tax Collections double to Rs. 2.47 lakh crores in 1st quarter of Financial Year 2021-22

Press Release, dated 27-07-2021 The … Continue reading “Net Direct Tax Collections double to Rs. 2.47 lakh crores in 1st quarter of Financial Year 2021-22”

Blog, News, Income Tax

July 29, 2021

Foreign travel expenses claimed in respect of wife not allowable if wife wasn’t an employee of assessee’s concern

Case details: P. Amarnath Reddy … Continue reading “Foreign travel expenses claimed in respect of wife not allowable if wife wasn’t an employee of assessee’s concern”