Income Tax

Blog, News, Income Tax

May 30, 2024

AO Isn’t Required to Pass Speaking Order for Adjustments Made in Sec. 143(1)(a) Intimation Based on Tax Audit Report

Case Details: Joyo Plastics vs. … Continue reading “AO Isn’t Required to Pass Speaking Order for Adjustments Made in Sec. 143(1)(a) Intimation Based on Tax Audit Report”

Blog, Income Tax

May 30, 2024

Nestle’s Royalty Payments – Impact on Shareholders and Tax Concerns

Nestle India pays royalties to … Continue reading “Nestle’s Royalty Payments – Impact on Shareholders and Tax Concerns”

Blog, News, Income Tax

May 29, 2024

No Separate Notice is to Be Issued to Joint Account Holder for Recovery of Tax Dues From Primary Account Holder | HC

Case Details: Pratik Chimanbhai Gami … Continue reading “No Separate Notice is to Be Issued to Joint Account Holder for Recovery of Tax Dues From Primary Account Holder | HC”

Blog, News, Income Tax

May 29, 2024

Mistake of Lawyer or Accountant is a Good Reason for Condonation of Delay in Filing Appeal | ITAT

Case Details: Chirag P. Thummar … Continue reading “Mistake of Lawyer or Accountant is a Good Reason for Condonation of Delay in Filing Appeal | ITAT”

Blog, News, Income Tax

May 28, 2024

CIT(E) Has Power to Correct Mistake in Filing Application for Registration u/s 12AB | ITAT

Case Details: Shree Swaminarayan Gadi … Continue reading “CIT(E) Has Power to Correct Mistake in Filing Application for Registration u/s 12AB | ITAT”

News, Blog, Income Tax

May 28, 2024

CBDT Notified ‘363’ Cost Inflation Index (CII) for Financial Year 2024-25

Notification No. 44/2024, dated 24-05-2024 … Continue reading “CBDT Notified ‘363’ Cost Inflation Index (CII) for Financial Year 2024-25”

Blog, News, Income Tax

May 27, 2024

No Additions Invoking Sec. 69B if Exp. Was Held Disallowable u/s 40A(3) & Not for Unexplained Exp. | ITAT

Case Details: Gurinder Makkar vs … Continue reading “No Additions Invoking Sec. 69B if Exp. Was Held Disallowable u/s 40A(3) & Not for Unexplained Exp. | ITAT”

Blog, News, Income Tax

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”