*****TDS: Finance Ministry to clarify doubts on applicability of TDS on perks received in business, profession – The Economic Times

Clipped from: https://economictimes.indiatimes.com/news/economy/policy/finance-ministry-to-clarify-doubts-on-applicability-of-tds-on-perks-received-in-business-profession/articleshow/91639138.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23 Synopsis The Budget brought in a new section, 194R in the I-T Act which requires deduction of tax at source at the rate

*****Waiting till June meant losing time when war related inflation pressures accentuated: RBI governor Shaktikanta Das – The Economic Times

Clipped from: https://economictimes.indiatimes.com/news/economy/policy/waiting-till-june-meant-losing-time-when-war-related-inflation-pressures-accentuated-rbi-governor-shaktikanta-das/articleshow/91646249.cms Synopsis Justifying the timing of RBI’s rate action, the governor said that the war in Europe is now expected to last much longer

*****Re-Assessment based on Wrong Assumption and Information from Another Assessing Officer is Invalid: ITAT

lipped from: https://www.taxscan.in/re-assessment-based-on-wrong-assumption-and-information-from-another-assessing-officer-is-invalid-itat/175101/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Re-Assessment Top Stories By Rasheela Basheer – On May 16, 2022 11:02 am The Income Tax Appellate Tribunal (ITAT), Mumbai bench has held that the reopening of assessment based on wrong

*****Income Tax Dept failed to give Minimum Time to Respond: Delhi HC quashes S. 148 Notice [Read Order]–TAXSCAN

Read More: https://www.taxscan.in/income-tax-dept-failed-to-give-minimum-time-to-respond-delhi-hc-quashes-s-148-notice/175092/ lipped from: https://www.taxscan.in/income-tax-dept-failed-to-give-minimum-time-to-respond-delhi-hc-quashes-s-148-notice/175092/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Income%20Tax%20Dept Top Stories By Taxscan Team – On May 16, 2022 2:34 pm In an assessee-favouring ruling, the Delhi High Court has quashed a notice under

*****NRI couldn’t Prove Source of Cash Deposit during Demonetization: ITAT upholds Addition [Read Order]–TAXSCAN

Read More: https://www.taxscan.in/nri-couldnt-prove-source-of-cash-deposit-during-demonetization-itat-upholds-addition/175912/ lipped from: https://www.taxscan.in/nri-couldnt-prove-source-of-cash-deposit-during-demonetization-itat-upholds-addition/175912/ Top Stories By Rasheela Basheer – On May 18, 2022 6:03 pm The Income Tax Appellate Tribunal (ITAT), Bangalore has upheld an addition against

*****No Excise Duty on Goods Manufactured on Job Work basis from Old and Used Goods Supplied by Principal Supplier: CESTAT [Read Order]–TAXSCAN

Read More: https://www.taxscan.in/no-excise-duty-on-goods-manufactured-on-job-work-basis-from-old-and-used-goods-supplied-by-principal-supplier-cestat/175466/ Clipped from: https://www.taxscan.in/no-excise-duty-on-goods-manufactured-on-job-work-basis-from-old-and-used-goods-supplied-by-principal-supplier-cestat/175466/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=No%20Excise%20Duty Top Stories By Jwala K.P – On May 17, 2022 2:31 pm The Ahmedabad Bench of Customs, Excise & Service Tax Appellate Tribunal (

Mere ‘Change of Opinion’ cannot be a ‘Reason to Believe’ Escapement of Income to Initiate Re-Assessment: Delhi HC [Read Order]–TAXSCAN

Read More: https://www.taxscan.in/mere-change-of-opinion-cannot-be-a-reason-to-believe-escapement-of-income-to-initiate-re-assessment-delhi-hc/175544/ Clipped from: https://www.taxscan.in/mere-change-of-opinion-cannot-be-a-reason-to-believe-escapement-of-income-to-initiate-re-assessment-delhi-hc/175544/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Change%20of%20Opinion Top Stories By Rasheela Basheer – On May 17, 2022 3:01 pm The division bench of the Delhi High Court while dismissing an appeal

*****Re-Assessment Order passed without allowing Assessee to file Objection is Invalid: Delhi HC

Clipped from: https://www.taxscan.in/re-assessment-order-passed-without-allowing-assessee-to-file-objection-is-invalid-delhi-hc/175598/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Re-Assessment%20Order Top Stories By Rasheela Basheer – On May 18, 2022 12:00 pm The Delhi High Court has held that the re-assessment under section 147/148 of the Income

*****Rental Income from Building cannot be treated as Business Income since Assessee is not Involved in Business of Leasing: ITAT–TAXSCAN

Clipped from: https://www.taxscan.in/rental-income-from-building-cannot-be-treated-as-business-income-since-assessee-is-not-involved-in-business-of-leasing-itat/175661/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Rental%20Income Top Stories By Rasheela Basheer – On May 18, 2022 1:53 pm The Income Tax Appellate Tribunal (ITAT), Vishakhapatnam bench has held that the rental income

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