Income Tax

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July 21, 2021

Forms 15CA/15CB can be filed manually till 15-08-2021: CBDT

As per Rule 37BB, a … Continue reading “Forms 15CA/15CB can be filed manually till 15-08-2021: CBDT”

Blog, News, Income Tax

July 19, 2021

Case studies: Computation of WDV of intangible assets and capital gains on transfer from ‘Goodwill’

Section 50 of the Income-tax … Continue reading “Case studies: Computation of WDV of intangible assets and capital gains on transfer from ‘Goodwill’”

Blog, News, Income Tax

July 19, 2021

AO cannot cancel registration unless trust not carrying on activity as per its objects: ITAT

Case details: Visakhapatnam Port Trust … Continue reading “AO cannot cancel registration unless trust not carrying on activity as per its objects: ITAT”

Blog, News, Income Tax

July 20, 2021

Society cannot seek retrospective registration by filing amended bye-laws as amended bye-laws operate prospectively: HC

Case details: CIT v. Young … Continue reading “Society cannot seek retrospective registration by filing amended bye-laws as amended bye-laws operate prospectively: HC”

News, Blog, Income Tax

July 20, 2021

Confusion over person liable to deduct tax u/s. 194Q

Finance Act, 2021 inserted Section … Continue reading “Confusion over person liable to deduct tax u/s. 194Q”

Blog, News, Income Tax

July 20, 2021

Assessee has statutory right to personal hearing; failure to grant would vitiate assessment order: Delhi HC

Case details: Balraj Hire Purchase … Continue reading “Assessee has statutory right to personal hearing; failure to grant would vitiate assessment order: Delhi HC”

News, Blog, Income Tax

July 20, 2021

HC set-aside faceless assessment order as it was passed without issuing draft assessment order

Case details: Anju Jalaj Batra … Continue reading “HC set-aside faceless assessment order as it was passed without issuing draft assessment order”

Blog, News, Income Tax

July 20, 2021

Mere mention of name in account opening form of Foreign Bank does not establish beneficial ownership: ITAT

Case details: ACIT v. Jatinder … Continue reading “Mere mention of name in account opening form of Foreign Bank does not establish beneficial ownership: ITAT”

Blog, News, Income Tax

July 20, 2021

Validity of CBDT’s notification extending time to issue Sec. 148 notice after 31-03-2021 challenged before HC

Case details: Sahil International v. … Continue reading “Validity of CBDT’s notification extending time to issue Sec. 148 notice after 31-03-2021 challenged before HC”

Blog, News, Income Tax

July 14, 2021

Payment of speed money to workers to get work completed quickly allowable as business exp.: High Court

Case details: Sri Ganesh Shipping … Continue reading “Payment of speed money to workers to get work completed quickly allowable as business exp.: High Court”