Income Tax

Blog, News, Income Tax

July 3, 2024

Provision for Staff Welfare and Loss on Guarantee Is Ascertained Liability; Not to Be Added While Computing Book Profits | ITAT

Case Details: DCIT v. Tata … Continue reading “Provision for Staff Welfare and Loss on Guarantee Is Ascertained Liability; Not to Be Added While Computing Book Profits | ITAT”

Blog, News, Income Tax

July 2, 2024

AO is to Hold Personal Hearing in Designated Area of Tax Office If Video Conference Facility is Not Available | HC

Case Details: Fusion Granito (P.) … Continue reading “AO is to Hold Personal Hearing in Designated Area of Tax Office If Video Conference Facility is Not Available | HC”

Blog, News, Income Tax

July 2, 2024

AO Can’t Raise Tax Demand After Co. Was Revived and Rehabilitated by New Management Under IBC

Case Details: National Sewing Thread … Continue reading “AO Can’t Raise Tax Demand After Co. Was Revived and Rehabilitated by New Management Under IBC”

Blog, News, Income Tax

July 1, 2024

CBDT Allows E-Filing for Forms 3CN, 3CS, 3CEC, 3CEFB, 59, and 59A

Notification no. 01/12024-25, dated 24-06-2024 … Continue reading “CBDT Allows E-Filing for Forms 3CN, 3CS, 3CEC, 3CEFB, 59, and 59A”

Blog, News, Income Tax

July 1, 2024

Govt. Keeps Interest Rates of Small Savings Schemes Unchanged for 2nd Quarter of FY 2024-25

Notification No.1/4/2019-NS, dated 28-06-2024 The … Continue reading “Govt. Keeps Interest Rates of Small Savings Schemes Unchanged for 2nd Quarter of FY 2024-25”

News, Blog, Income Tax

July 1, 2024

Provisions of Sec. 13 Not Applicable to Charitable Society Notified u/s 10(23C) Along with Sec. 12A | ITAT

Case Details: Income Tax Officer … Continue reading “Provisions of Sec. 13 Not Applicable to Charitable Society Notified u/s 10(23C) Along with Sec. 12A | ITAT”

Blog, News, Income Tax

June 29, 2024

Distance of Land to Be Measured as per Old Notification if Municipal Limits Are Extended Without New Notification | ITAT

Case Details: Ashish Gupta vs. … Continue reading “Distance of Land to Be Measured as per Old Notification if Municipal Limits Are Extended Without New Notification | ITAT”

Blog, News, Income Tax

June 28, 2024

Payments to Retired Partners as per Deed Are Prior Charges on Deloitte’s Gross Fees; Not Taxable as Income | ITAT

Case Details: Deloitte Haskins and … Continue reading “Payments to Retired Partners as per Deed Are Prior Charges on Deloitte’s Gross Fees; Not Taxable as Income | ITAT”

Blog, News, Income Tax

June 27, 2024

No Prosecution for Non-disclosure of Foreign Assets in ITR if It Occurred Before Enactment of Black Money Act | HC

Case Details: Smt. Dhanashree Ravindra … Continue reading “No Prosecution for Non-disclosure of Foreign Assets in ITR if It Occurred Before Enactment of Black Money Act | HC”

Blog, News, Income Tax

June 26, 2024

[Opinion] Pay Capital Gains Tax Only On Unspent Money For Under Construction House

Meenakshi Subramaniam – [2024] 163 … Continue reading “[Opinion] Pay Capital Gains Tax Only On Unspent Money For Under Construction House”