Income Tax

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May 10, 2024

ITAT Upheld Validity of Assessment Order as It Was Handed Over to Postal Dept. Within Limitation Period

Case Details: Shri S.P. Kohli … Continue reading “ITAT Upheld Validity of Assessment Order as It Was Handed Over to Postal Dept. Within Limitation Period”

Blog, News, Income Tax

May 9, 2024

[Opinion] Preponderance – The Test of Probability

CA Sanjeeva Narayan – [2024] … Continue reading “[Opinion] Preponderance – The Test of Probability”

Blog, News, Income Tax

May 9, 2024

Rule 3(7)(i) Prescribing SBI’s Rate of Interest to Compute Perquisite Isn’t Arbitrary/Unequal | SC

Case Details: All India Bank … Continue reading “Rule 3(7)(i) Prescribing SBI’s Rate of Interest to Compute Perquisite Isn’t Arbitrary/Unequal | SC”

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May 8, 2024

[Opinion] Family Settlement Agreement | An Effective Tool to Save Disputes & Taxes

Mayank Mohanka – [2024] 162 … Continue reading “[Opinion] Family Settlement Agreement | An Effective Tool to Save Disputes & Taxes”

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May 8, 2024

Question of Correctness of Claim of Deduction u/s 80JJAA Can’t Represent Escapement of Income | HC

Case Details: Hexaware Technologies Ltd. … Continue reading “Question of Correctness of Claim of Deduction u/s 80JJAA Can’t Represent Escapement of Income | HC”

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May 7, 2024

CBDT Releases Guidelines for Compulsory Selection of Returns for Complete Scrutiny During FY 2024-25

Notification F.No.225/72/2024IITA-II, dated 03-05-2024 The … Continue reading “CBDT Releases Guidelines for Compulsory Selection of Returns for Complete Scrutiny During FY 2024-25”

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May 6, 2024

Payment Made to Agricultural Board for Development Works on Assessee’s Behalf Allowable as Application of Income

Case Details: Market Committee v. … Continue reading “Payment Made to Agricultural Board for Development Works on Assessee’s Behalf Allowable as Application of Income”

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May 6, 2024

[Opinion] Section 170A | Effect of Order of Tribunal or Court in Respect of Business Reorganization

CA Amarbir Singh Walia – … Continue reading “[Opinion] Section 170A | Effect of Order of Tribunal or Court in Respect of Business Reorganization”

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May 3, 2024

No Sec. 263 Revision if Sec. 153A Order Was Passed After Obtaining Prior Approval of JCIT

Case Details: PCIT v. Prakhar … Continue reading “No Sec. 263 Revision if Sec. 153A Order Was Passed After Obtaining Prior Approval of JCIT”

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May 3, 2024

[Opinion] The Phrase’ Genuine Hardship’ Deserves Liberal Interpretation

V K Subramani – [2024] … Continue reading “[Opinion] The Phrase’ Genuine Hardship’ Deserves Liberal Interpretation”