Income Tax

News, Blog, Income Tax

November 3, 2023

FinMin Notifies ‘Exchange of Information & Assistance in Tax Collection’ Agreement With Saint Vincent & Grenadines

Notification No. 96/2023, dated 01-11-2023 … Continue reading “FinMin Notifies ‘Exchange of Information & Assistance in Tax Collection’ Agreement With Saint Vincent & Grenadines”

Blog, News, Income Tax

November 3, 2023

Non-compete Fee Paid to Protect Business is Capital Expenditure | Claim of Depriciation is to Be Allowed | ITAT

Case Details: Eaton Power Quality … Continue reading “Non-compete Fee Paid to Protect Business is Capital Expenditure | Claim of Depriciation is to Be Allowed | ITAT”

Blog, News, Income Tax

November 2, 2023

No Denial of Sec. 35(2AB) Deduction Merely Because Competent Authority Failed to Issue Form 3CL During Assessment | HC

Case Details: PCIT vs. M/S … Continue reading “No Denial of Sec. 35(2AB) Deduction Merely Because Competent Authority Failed to Issue Form 3CL During Assessment | HC”

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October 31, 2023

TDS Benefit to Be Granted Even on Non-production of Form 16A if Assessee Established Deduction of Tax At Source | HC

Case Details: Incredible Unique Buildcon … Continue reading “TDS Benefit to Be Granted Even on Non-production of Form 16A if Assessee Established Deduction of Tax At Source | HC”

Blog, News, Income Tax

October 31, 2023

[Opinion] Late GST Payment? Claim Income Tax Exemption

Meenakshi Subramaniam – [2023] 155 … Continue reading “[Opinion] Late GST Payment? Claim Income Tax Exemption”

Blog, News, Income Tax

October 28, 2023

Sec. 80G Approval Rightly Rejected as Trust Wants to Construct Building Diverging from Granted Charitable Objectives

Case Details: Gurjar Kalyan Parishad … Continue reading “Sec. 80G Approval Rightly Rejected as Trust Wants to Construct Building Diverging from Granted Charitable Objectives”

Blog, News, Income Tax

October 27, 2023

Interest on Borrowed Capital Paid by Co. Engaged Construction & Leasing of Property is Deduction u/s 24(b) | ITAT

Case Details: Manjri Stud Farm … Continue reading “Interest on Borrowed Capital Paid by Co. Engaged Construction & Leasing of Property is Deduction u/s 24(b) | ITAT”

News, Blog, Income Tax

October 27, 2023

Compensation Paid to Seller for Waiving Off Its Absolute Right from Land to be Treated as Cost of Improvement | ITAT

Case Details: Nareshbhai Ishwardas Patel … Continue reading “Compensation Paid to Seller for Waiving Off Its Absolute Right from Land to be Treated as Cost of Improvement | ITAT”

Blog, News, Income Tax

October 26, 2023

CBDT Condones Delay in Filing of Form 10-IC for AY 2021-22 If ITR Was Filed Within Due Date

Circular No. 19/2023, dated 23-10-2023 … Continue reading “CBDT Condones Delay in Filing of Form 10-IC for AY 2021-22 If ITR Was Filed Within Due Date”

Blog, News, Income Tax

October 26, 2023

AO Needs Evidence to Label Share Sale as Bogus Proving Assessee Converted Unaccounted Funds Through Fictitious Loss

Case Details: PCIT v. Champalal … Continue reading “AO Needs Evidence to Label Share Sale as Bogus Proving Assessee Converted Unaccounted Funds Through Fictitious Loss”