Income Tax

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”

Blog, News, Income Tax

July 28, 2021

No condonation of delay in filing appeal before ITAT if no medical reports of ill-health were submitted: ITAT

Case details: Ajay Kumar jain … Continue reading “No condonation of delay in filing appeal before ITAT if no medical reports of ill-health were submitted: ITAT”

Blog, News, Income Tax

July 28, 2021

AO can’t recover taxes from assessee if tax deducted on his income wasn’t deposited by deductor: HC

Case details: Ashok Kumar B. … Continue reading “AO can’t recover taxes from assessee if tax deducted on his income wasn’t deposited by deductor: HC”

Blog, News, Income Tax

July 27, 2021

AO can’t make additions related to deposit in Swiss Bank mere relying on info. received from Investigation wing: ITAT

Case details: Karamjit S. Jaiswal … Continue reading “AO can’t make additions related to deposit in Swiss Bank mere relying on info. received from Investigation wing: ITAT”

News, Blog, Income Tax

July 27, 2021

Dept. conducted search on ‘Dainik Bhaskar’ Group; income escapment of Rs. 700 crore over 6 years detected

The Income-tax Dept. has carried … Continue reading “Dept. conducted search on ‘Dainik Bhaskar’ Group; income escapment of Rs. 700 crore over 6 years detected”