Income Tax

Blog, News, Income Tax

November 27, 2023

Interest Exp. Can’t be Disallowed If Co. Didn’t Recognize Interest Income as Recovering Loans Becomes Impossible

Case Details: DCIT vs. M/s. … Continue reading “Interest Exp. Can’t be Disallowed If Co. Didn’t Recognize Interest Income as Recovering Loans Becomes Impossible”

News, Blog, Income Tax

November 25, 2023

Posting Date of Misc. Petition Hearing in Cause List is Inadequate; Parties Must be Formally Notified of Hearing Date | HC

Case Details: Ejaz Tanning Company … Continue reading “Posting Date of Misc. Petition Hearing in Cause List is Inadequate; Parties Must be Formally Notified of Hearing Date | HC”

Blog, News, Income Tax

November 24, 2023

ITAT Directed AO to Allow Indexed Cost of Acquisition Even Though the Assessee Forgot to Claim it in Return

Case Details: Alok Ghosh vs. … Continue reading “ITAT Directed AO to Allow Indexed Cost of Acquisition Even Though the Assessee Forgot to Claim it in Return”

Blog, News, Income Tax

November 24, 2023

[Opinion] AO Cannot Casually Disallow Payments to Relatives

Meenakshi Subramaniam – [2023] 156 … Continue reading “[Opinion] AO Cannot Casually Disallow Payments to Relatives”

Blog, News, Income Tax

November 23, 2023

Govt. Notifies ‘Deputy Director General (Tech Development Division), UIDAI’ as Authority u/s 138

Notification No. 99/2023, dated 20-11-2023 … Continue reading “Govt. Notifies ‘Deputy Director General (Tech Development Division), UIDAI’ as Authority u/s 138”

News, Blog, Income Tax

November 23, 2023

Last Date Mentioned u/s 245C to File SetCom Application Should Be Read as 31-03-2021 Instead of 01-02-2021 | HC

Case Details: Jain Metal Rolling … Continue reading “Last Date Mentioned u/s 245C to File SetCom Application Should Be Read as 31-03-2021 Instead of 01-02-2021 | HC”

Blog, News, Income Tax

November 22, 2023

DRP Can’t Give Directions Once an Assessment Order is Passed Irrespective of Fact That It is Right or Wrong | HC

Case Details: Undercarriage and Tractor … Continue reading “DRP Can’t Give Directions Once an Assessment Order is Passed Irrespective of Fact That It is Right or Wrong | HC”

Blog, News, Income Tax

November 22, 2023

SFT to Report Mutual Fund/Capital Gains Transactions to be Filed Half-yearly Instead of Quarterly | CBDT

Corrigendum to notification no. 3 … Continue reading “SFT to Report Mutual Fund/Capital Gains Transactions to be Filed Half-yearly Instead of Quarterly | CBDT”

News, Blog, Income Tax

November 21, 2023

[Opinion] Classic Case of Failure to Discharge Obligation u/s 148A in a Proper Manner

Gopal Nathani – [2023] 156 … Continue reading “[Opinion] Classic Case of Failure to Discharge Obligation u/s 148A in a Proper Manner”

Blog, News, Income Tax

November 20, 2023

HC Discards ‘Travel Back in Time’ Theory Propounded by Revenue Relying Upon Ashish Agarwal Case

Case Details: Ganesh Dass Khanna … Continue reading “HC Discards ‘Travel Back in Time’ Theory Propounded by Revenue Relying Upon Ashish Agarwal Case”