Clipped from: https://www.taxscan.in/income-tax-return-filed-prior-to-death-of-assesse-shall-be-the-basis-of-computing-loss-of-future-income-of-assesse-for-mact-claim-gujarat-hc/205363/ Top Stories By Gayathri C.H – On September 19, 2022 9:56 am The High Court of Gujarat has, in a recent appeal filed before it by
Category: Income Tax Cases
No Cognitive Evidence which proves change in Stock Valuation method: ITAT upholds Order of CIT(A)
Clipped from: https://www.taxscan.in/no-cognitive-evidence-which-proves-change-in-stock-valuation-method-itat-upholds-order-of-cita/206834/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=No%20Cognitive%20Evidence Top Stories By Taxscan Team – On September 23, 2022 6:54 pm The Income Tax Appellate Tribunal (ITAT) Chennai Bench has upheld the order of CIT(A)
Completion of Assessment in Hand of Company enough to prove Expense incurred for Business, Section 2(22)(e) can’t be invoked: ITAT
Clipped from: https://www.taxscan.in/completion-of-assessment-in-hand-of-company-enough-to-prove-expense-incurred-for-business-section-222e-cant-be-invoked-itat/207098/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Completion%20of%20Assessment Top Stories By Rasheela Basheer – On September 25, 2022 7:10 pm The Chennai Bench Income Tax Appellate Tribunal (ITAT) held that completion of assessment in
Insurance Premium paid which wasn’t claimed Deduction u/s 80C can’t be taxed: ITAT
Clipped from: https://www.taxscan.in/insurance-premium-paid-which-wasnt-claimed-deduction-u-s-80c-cant-be-taxed-itat/207080/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Insurance%20Premium Income Tax By Yogitha S. Yogesh – On September 25, 2022 7:13 pm The Bangalore Bench Income Tax Appellate Tribunal (ITAT) ruled that the insurance premium
Business Loss cannot be disallowed as AO has not Rejected Books of Accounts: ITAT
Clipped from: https://www.taxscan.in/business-loss-cannot-be-disallowed-as-ao-has-not-rejected-books-of-accounts-itat/196879/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Business%20Loss Top Stories By Kalyani B Nair – On September 25, 2022 9:45 pm The Income Tax Appellate Tribunal (ITAT), Ahmedabad held that business loss cannot be disallowed as Assessing Officer
Comprehensive Guide on TDS on GST @ 2% (with Examples)
Clipped from: https://www.charteredclub.com/tds-gst/ TDS @ 2% is required to be deducted on payment made to the supplier of taxable goods or services of both where the
Co-op society not liable to deduct TDS under GST: AAR – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/co-op-society-not-liable-to-deduct-tds-under-gst-aar/article28655967.ece A co-operative society is not liable to deduct tax at source (TDS) from its vendors for supply of taxable goods and services, Rajasthan’s
Satisfaction to be Recorded by the AO before issue of 153C Notice: ITAT
Clipped from: https://www.taxscan.in/satisfaction-to-be-recorded-by-the-ao-before-issue-of-153c-notice-itat/207327/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=Satisfaction%20to%20be%20Recorded Top Stories By Gayathri C.H – On September 26, 2022 4:42 pm The Income Tax Appellate Tribunal ( ITAT ), Visakhapatnam Bench, has recently in the appeals
*******HC explains Provisions of Section 148A of Income Tax Act, 1961–TAXGURU.IN
Clipped from: https://taxguru.in/income-tax/hc-explains-provisions-section-148a-income-tax-act-1961.html?utm_source=feedburner&utm_medium=email Abdul Majeed Vs ITO (Rajasthan High Court) High Court held that while passing an order under Section 148A of the Act, the authority
*******ITAT okays adding betting earnings to business income – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/sports/itat-okays-adding-betting-earnings-to-business-income/article65630430.ece Rules estimate of income from betting as ‘fair and reasonable’ Betting is illegal but there is nothing wrong in adding the earnings from
*****SC says taxpayer needs to satisfy twin conditions to claim set-off losses | The Financial Express
clipped from: https://www.financialexpress.com/money/income-tax/sc-says-taxpayer-needs-to-satisfy-twin-conditions-to-claim-set-off-losses/2592075/ A Bench led by Justice MB Shah held that the HC had committed a grave error and its view “is erroneous and contrary
Loss from share trading can be set off against business income-TAXGURU
Clipped from: https://taxguru.in/income-tax/loss-share-trading-set-off-business-income.html?utm_source=feedburner&utm_medium=email Jitendra Manilal Malkan Vs ITO (ITAT Ahmedabad) It is observed that during the year the assessee had purchased 34 different scripts and out
Miscellaneous expenses Paid by Cheques based on Self-Made Voucher allowable–TAXGURU
Clipped from: https://taxguru.in/income-tax/miscellaneous-expenses-paid-cheques-based-self-made-voucher-allowable.html?utm_source=feedburner&utm_medium=email Thermon Heat Tracers Pvt. Ltd. Vs JCIT (ITAT Pune) ITAT held that miscellaneous expenses Paid Through Cheques Based On Self-Made Voucher Allowable for
Cash Gift taxable in the year of receipt and not in year it was traced–TAXGURU
Clipped from: https://taxguru.in/income-tax/cash-gift-taxable-year-receipt-year-traced.html?utm_source=feedburner&utm_medium=email Gaurav Agarwal Vs DCIT (ITAT Lucknow) From the examination of documents found during search and seizure operation u/s. 132 of the Act the
****Allahabad HC directs Centre, Tax Dept to take action against officials for issuing order despite adverse opinion – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/allahabad-hc-directs-centre-tax-dept-to-take-action-against-officials-for-issuing-order-despite-adverse-opinion/article65469895.ece Allahabad High Court has directed the Income Tax Department to initiate appropriate proceedings against the tax officials who passed an order against an
Chartered Accountants Arrested and Remanded to Judicial Custody for 14 Days: GST Dept response to Detention of 2 CAs-TAXSCAN
Read More: https://www.taxscan.in/chartered-accountants-arrested-and-remanded-to-judicial-custody-for-14-days-gst-dept-response-to-detention-of-2-cas/176763/ Clipped from: https://www.taxscan.in/chartered-accountants-arrested-and-remanded-to-judicial-custody-for-14-days-gst-dept-response-to-detention-of-2-cas/176763/ Top Stories By Rasheela Basheer – On May 21, 2022 11:08 am Finally, the GST Department, has responded to the alleged illegal detention of
Wife eligible for Capital Gain Exemption If Money given for Acquisition of Property either directly to Builder or as Reimbursement to Husband-TAXSCAN
lipped from: https://www.taxscan.in/wife-eligible-for-capital-gain-exemption-if-money-given-for-acquisition-of-property-either-directly-to-builder-or-as-reimbursement-to-husband/171942/ Top Stories By Rasheela Basheer – On May 2, 2022 8:50 pm The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) has held that the wife is
Source of Money cannot be doubted If Fixed Deposits are made out ofSavings: ITAT grants Relief to Senior Citizen Lady-TAXSCAN
Clipped from: https://www.taxscan.in/source-of-money-cannot-be-doubted-if-fixed-deposits-are-made-out-of-savings-itat-grants-relief-to-senior-citizen-lady/171535/ Top Stories By Taxscan Team – On April 30, 2022 6:46 pm In a woman-friendly ruling, the Cuttack bench of the Income Tax Appellate Tribunal (ITAT) has held
Income Tax: CBDT eases Compliance of TDS / TCS [Read Circular]–TAXSCAN
Read More: https://www.taxscan.in/income-tax-cbdt-eases-compliance-of-tds-tcs/175942/ lipped from: https://www.taxscan.in/income-tax-cbdt-eases-compliance-of-tds-tcs/175942/?utm_source=izooto&utm_medium=push_notifications&utm_campaign=TDS%20/%20TCS Top Stories By Rasheela Basheer – On May 18, 2022 5:26 pm The Central Board of Direct Taxes (CBDT) has issued a circular prescribing the rules
Loan from Close Relatives & Friends cannot be treated as ‘Unexplained’ to invoke S. 68: ITAT [Read Order]–TAXSCAN
Read More: https://www.taxscan.in/loan-from-close-relatives-friends-cannot-be-treated-as-unexplained-to-invoke-s-68-itat/176004/ Clipped from: https://www.taxscan.in/loan-from-close-relatives-friends-cannot-be-treated-as-unexplained-to-invoke-s-68-itat/176004/ Top Stories By Rasheela Basheer – On May 19, 2022 4:23 pm The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the loan taken
