Category: Income Tax
*****Why this fuss about income inequality? | Expert Views – Business Standard
https://www.business-standard.com/opinion/columns/why-this-fuss-about-income-inequality-124032801231_1.html Clipped from: https://www.business-standard.com/opinion/columns/why-this-fuss-about-income-inequality-124032801231_1.html Most Indians do not care about the income gap between the top 1 per cent and the rest. They have their own
Section 43B(h): Disallowances of expenses due to non-payment to MSMEs
https://taxguru.in/income-tax/section-43bh-disallowances-expenses-due-non-payment-msmes.html Clipped from: https://taxguru.in/income-tax/section-43bh-disallowances-expenses-due-non-payment-msmes.html CA Piyush Agarwal 28 Mar 2024 2,982 Views 0 comment Print Income Tax | Articles Section 43B (h) of Income Tax Act, 1961 – Disallowances of expenses due to
*****Order passed by an authority cannot go beyond scope of show cause notice
https://taxguru.in/corporate-law/order-passed-authority-beyond-scope-show-cause-notice.html Clipped from: https://taxguru.in/corporate-law/order-passed-authority-beyond-scope-show-cause-notice.html CA Sandeep Kanoi 28 Mar 2024 165 Views 0 comment Print Corporate Law | Judiciary Case Law Details Case Name : Ramlala Vs State of U.P. and 4 Others (Allahabad
*****Detailed Analysis on Section 43B(h)
https://taxguru.in/income-tax/detailed-analysis-section-43b-h.html Clipped from: https://taxguru.in/income-tax/detailed-analysis-section-43b-h.html Garima Agarwal 27 Mar 2024 984 Views 0 comment Print Income Tax | Articles Introduction:- In accordance with the amendment to Section 43B of the Income Tax Act, a
ITAT directs CIT(A) to Condone 857-Day Delay considering change in residence & age
https://taxguru.in/income-tax/itat-directs-cita-condone-857-day-delay-considering-change-residence-age.html Clipped from: https://taxguru.in/income-tax/itat-directs-cita-condone-857-day-delay-considering-change-residence-age.html CA Sandeep Kanoi 27 Mar 2024 114 Views 0 comment Print Income Tax | Judiciary Case Law Details Case Name : C. Ramasamy Gounder HUF Vs ITO (ITAT Chennai) Appeal
Madras HC directs AO to readjudicate as CA was unable to represent client during Covid
https://taxguru.in/income-tax/madras-hc-directs-ao-readjudicate-ca-unable-represent-client-covid.html lipped from: https://taxguru.in/income-tax/madras-hc-directs-ao-readjudicate-ca-unable-represent-client-covid.html CA Sandeep Kanoi 27 Mar 2024 87 Views 0 comment Print Income Tax | Judiciary Case Law Details Case Name : Pallazzio Energy Farms LLP Vs PCIT (Madras High Court)
AO cannot reject a reply by merely stating that reply was unsatisfactory
https://taxguru.in/goods-and-service-tax/ao-reject-reply-merely-stating-reply-unsatisfactory.html Clipped from: https://taxguru.in/goods-and-service-tax/ao-reject-reply-merely-stating-reply-unsatisfactory.html CA Sandeep Kanoi 27 Mar 2024 2,814 Views 0 comment Print Goods and Services Tax | Judiciary Case Law Details Case Name : Ethos Limited Vs Assistant Commissioner Department of
👍👍👍👍👍ITR Filing: Why belated returns and rectification by assessee may become a thing of the past
https://www.thehindubusinessline.com/portfolio/personal-finance/itr-filing-why-belated-returns-and-rectification-by-assessee-may-become-a-thing-of-the-past/article67991747.ece Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/itr-filing-why-belated-returns-and-rectification-by-assessee-may-become-a-thing-of-the-past/article67991747.ece The time limit to file return for AY 2021-22 will expire on 31 March 31, 2024. For the subsequent years, this extended
👍👍👍👍👍Income Tax Dept sets high-risk value assessment guidelines for updated ITRs, AY 2021-22 filing deadline March 31 – The Hindu BusinessLine
https://www.thehindubusinessline.com/economy/policy/income-tax-dept-sets-high-risk-value-assessment-guidelines-for-updated-itrs-ay-2021-22-filing-deadline-march-31/article67990157.ece Clipped from: https://www.thehindubusinessline.com/economy/policy/income-tax-dept-sets-high-risk-value-assessment-guidelines-for-updated-itrs-ay-2021-22-filing-deadline-march-31/article67990157.ece Updated and non-updated ITRs are classified as ‘High Risk’ under the E-Verification Scheme 2021, based on significant financial transactions and higher tax
👍👍👍👍👍👍👍Understanding the Capital Gain Account Scheme
https://taxguru.in/income-tax/understanding-capital-gain-account-scheme.html Clipped from: https://taxguru.in/income-tax/understanding-capital-gain-account-scheme.html Introduction The Capital Gain Account Scheme (CGAS) was introduced by the Central Government of India in 1988 as a part of the
👍👍👍👍👍Reopening u/s. 148 merely based on investigation report is unjustifiable: ITAT Delhi
https://taxguru.in/income-tax/reopening-u-s-148-based-investigation-report-unjustifiable-itat-delhi.html Clipped from: https://taxguru.in/income-tax/reopening-u-s-148-based-investigation-report-unjustifiable-itat-delhi.html Akik Marketing India Pvt. Ltd. Vs ITO (ITAT Delhi) ITAT Delhi held that reopening assessment under section 148 of the Income Tax
👍👍👍👍👍Co-Op society eligible for section 80P(2)(a)(i) deduction on compulsory investment with Central Co-op Bank
https://taxguru.in/income-tax/co-op-society-eligible-section-80p2ai-deduction-compulsory-investment-central-co-op-bank.html Clipped from: https://taxguru.in/income-tax/co-op-society-eligible-section-80p2ai-deduction-compulsory-investment-central-co-op-bank.html Kalika Parameswari Co-operative Society Ltd Vs ITO (ITAT Bangalore) Introduction: The case of Kalika Parameswari Co-operative Society Ltd vs. ITO, heard at the
👍👍👍👍👍Addition which is not based on reasons for reopening is un-sustainable sans notice u/s 148
https://taxguru.in/income-tax/addition-based-reasons-reopening-un-sustainable-sans-notice-u-s-148.html Clipped from: https://taxguru.in/income-tax/addition-based-reasons-reopening-un-sustainable-sans-notice-u-s-148.html Manu Stock Broking Private Limited Vs ACIT (ITAT Mumbai) Introduction: The case of Manu Stock Broking Pvt Ltd Vs ACIT, adjudicated by the
👍👍👍👍👍Section 143(1) Intimation Without Hearing Assessee Is Unlawful: ITAT Kolkata
https://taxguru.in/income-tax/section-1431-intimation-hearing-assessee-unlawful-itat-kolkata.html Clipped from: https://taxguru.in/income-tax/section-1431-intimation-hearing-assessee-unlawful-itat-kolkata.html Aashirvad Villa Limited Vs ITO (ITAT Kolkata) Introduction: The case of Aashirvad Villa Limited Vs ITO, adjudicated by the Income Tax Appellate Tribunal
👍👍👍👍👍Section 80P(2)(d) Deduction Eligible on Interest on Deposits with Co-Op Society
https://taxguru.in/income-tax/section-80p2d-deduction-eligible-interest-deposits-co-op-society.html Clipped from: https://taxguru.in/income-tax/section-80p2d-deduction-eligible-interest-deposits-co-op-society.html Balduhak Co-operative Agriculture Service Society Ltd. Vs ITO (ITAT Chandigarh) Introduction: The case of Balduhak Co-operative Agriculture Service Society Ltd. vs ITO (ITAT
👍👍👍Section 43B(h) of Income Tax Act, 1961 and MSMED Act, 2006
https://taxguru.in/income-tax/section-43b-h-income-tax-act-1961-msmed-act-2006.html Clipped from: https://taxguru.in/income-tax/section-43b-h-income-tax-act-1961-msmed-act-2006.html The government has brought in the amendment in Section 43B of Income Tax Act, 1961 and inserted a new clause (h) w.e.f.
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