Income Tax

News, Blog, Income Tax

July 15, 2021

Exp. incurred by MRF on establishing foundation to give training to pace bowlers allowable as business exp.: HC

Case details: MRF Ltd. v. … Continue reading “Exp. incurred by MRF on establishing foundation to give training to pace bowlers allowable as business exp.: HC”

Blog, News, Income Tax

July 15, 2021

Sec. 153C notices issued to ‘Karti P.Chidambaram’ valid as no mala fide/lack of jurisdiction was established: HC

Case details: Karti P. Chidambaram … Continue reading “Sec. 153C notices issued to ‘Karti P.Chidambaram’ valid as no mala fide/lack of jurisdiction was established: HC”

Blog, News, Income Tax

July 15, 2021

Fresh claim before Appellate Authority is admissible even same wasn’t claimed in ITR: Karnataka HC

Case details: PCIT v. Karnataka … Continue reading “Fresh claim before Appellate Authority is admissible even same wasn’t claimed in ITR: Karnataka HC”

News, Blog, Transfer Pricing, Income Tax

July 15, 2021

TPO cannot decide whether expenses incurred by assessee were necessary or not for business: ITAT

Case Details: DCIT v. Rabo … Continue reading “TPO cannot decide whether expenses incurred by assessee were necessary or not for business: ITAT”

Blog, News, Income Tax

July 15, 2021

Consultancy fees paid for studying & preparing a strategy to reduce cost of production is eligible for deduction: HC

Case details: CIT v. Telco Construction … Continue reading “Consultancy fees paid for studying & preparing a strategy to reduce cost of production is eligible for deduction: HC”

Blog, News, Income Tax

July 15, 2021

Amendment by the Finance Act 2012, to include HUF within the scope of Section 54B (relief) of the Income Tax Act, 1961 is clarificatory in nature: ITAT

Case details: Shri Sitaram Pahariya (HUF) … Continue reading “Amendment by the Finance Act 2012, to include HUF within the scope of Section 54B (relief) of the Income Tax Act, 1961 is clarificatory in nature: ITAT”

Blog, News, Income Tax

July 15, 2021

No additions towards excess premium if assessee valued shares at FMV computed in accordance with Rule 11UA of the Income Tax Rules, 1962: ITAT

Case details: Mantram Commodities (P.) … Continue reading “No additions towards excess premium if assessee valued shares at FMV computed in accordance with Rule 11UA of the Income Tax Rules, 1962: ITAT”

News, Blog, Income Tax

July 15, 2021

CBDT raises a helping hand for family members of those who succumbed to COVID-19

Scope of the Income-tax Act, … Continue reading “CBDT raises a helping hand for family members of those who succumbed to COVID-19”

Blog, Income Tax

November 17, 2022

Revised Due Dates for Compliances under the Income-tax Act

In view of the COVID-19 … Continue reading “Revised Due Dates for Compliances under the Income-tax Act”

Blog, Income Tax

October 15, 2022

How to Access Form 26AS from the New Income-tax Website?

The income-tax department has launched … Continue reading “How to Access Form 26AS from the New Income-tax Website?”