Income Tax

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May 24, 2024

Mere Mentioning of Assessee’s Name in Panchnama of Another Co. Doesn’t Authorize AO to Issue Notice u/s 153A | HC

Case Details: Misty Meadows Private … Continue reading “Mere Mentioning of Assessee’s Name in Panchnama of Another Co. Doesn’t Authorize AO to Issue Notice u/s 153A | HC”

Blog, News, Income Tax

May 24, 2024

HC Grants Relief to PepsiCo India | Follows Sony Ericsson Ruling to Reject Bright Line Test to Benchmark AMP Exp.

Case Details: PCIT v. PepsiCo … Continue reading “HC Grants Relief to PepsiCo India | Follows Sony Ericsson Ruling to Reject Bright Line Test to Benchmark AMP Exp.”

Blog, News, Income Tax

May 23, 2024

Supreme Court Upholds ICAI’s Limit of 60 Tax Audits Per CA | Makes It Effective From 01.04.2024

Case Details: Shaji Poulose vs. … Continue reading “Supreme Court Upholds ICAI’s Limit of 60 Tax Audits Per CA | Makes It Effective From 01.04.2024”

News, Blog, Income Tax

May 23, 2024

SC Waives Interest on Tax Dues on Telcos Resulting From Its Decision Classifying Licence Fee as Capital Exp.

Case Details: CIT v. Bharti … Continue reading “SC Waives Interest on Tax Dues on Telcos Resulting From Its Decision Classifying Licence Fee as Capital Exp.”

Blog, News, Income Tax

May 22, 2024

No Concealment Penalty if Tax Sought to Be Evaded is Nil After Considering Self-assessment Tax | ITAT

Case Details: Smt. Kavita Sachdev … Continue reading “No Concealment Penalty if Tax Sought to Be Evaded is Nil After Considering Self-assessment Tax | ITAT”

Blog, News, Income Tax

May 22, 2024

Factual Error in Date of Notice Invalidates Assessment as It Was Claimed to Be Served Before That Date

Case Details: Mandeep Malli vs. … Continue reading “Factual Error in Date of Notice Invalidates Assessment as It Was Claimed to Be Served Before That Date”

News, Blog, Income Tax

May 21, 2024

No Relief to Assessee if He Failed to Place Clinching Evidence to Show That There Was No Income Derived by Him | HC

Case Details: Ravikumar Subhash Kalsi … Continue reading “No Relief to Assessee if He Failed to Place Clinching Evidence to Show That There Was No Income Derived by Him | HC”

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May 20, 2024

Mere Fact That Gifts Were Received Through Banking Channels Won’t Establish Genuineness of Transaction | HC

Case Details: Mohit Agarwal V … Continue reading “Mere Fact That Gifts Were Received Through Banking Channels Won’t Establish Genuineness of Transaction | HC”

Blog, News, Income Tax

May 20, 2024

[Opinion] Does the New CBDT Notification on Pan-Aadhaar Linking Sufficiently Address Taxpayer Concerns?

CA S. Krishnan – [2024] … Continue reading “[Opinion] Does the New CBDT Notification on Pan-Aadhaar Linking Sufficiently Address Taxpayer Concerns?”

Blog, News, Income Tax

May 18, 2024

Completing Assessment Without Issuing Sec. 143(2) Notice to Assessee is an Incurable Defect | ITAT

Case Details: Ashish Sharma v. … Continue reading “Completing Assessment Without Issuing Sec. 143(2) Notice to Assessee is an Incurable Defect | ITAT”