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
Category: Income Tax
👍👍👍👍👍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.
👍👍👍Personal hearing is mandatory before issuing Section 148A(d) orders: Kerala HC
https://taxguru.in/income-tax/personal-hearing-mandatory-issuing-section-148ad-orders-kerala-hc.html Clipped from: https://taxguru.in/income-tax/personal-hearing-mandatory-issuing-section-148ad-orders-kerala-hc.html ITO Vs Abdul Majeed (Kerala High Court) Introduction: In a recent judgment, the Kerala High Court addressed the necessity of a personal hearing prior
👍👍👍👍👍Payments to Micro, Small & Medium Enterprises: Section 43B(h) impact & FAQs
https://taxguru.in/income-tax/payments-micro-small-medium-enterprises-section-43bh-impact-faqs.html Clipped from: https://taxguru.in/income-tax/payments-micro-small-medium-enterprises-section-43bh-impact-faqs.html PAYMENTS RELATING TO MICRO, SMALL AND MEDIUM ENTERPRISES – IMAPCT OF SECTION 43B(h) and FAQs Introduction The Finance Act, 2023 through inserting section 43B(h), applicable
👍👍👍👍👍Exemptions to rebates: Differences between old and new tax regime | Personal Finance – Business Standard
https://www.business-standard.com/finance/personal-finance/exemptions-to-rebates-differences-between-old-and-new-tax-regime-124031400355_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/exemptions-to-rebates-differences-between-old-and-new-tax-regime-124031400355_1.html Taxpayers are given a choice to choose between the old and new tax regimes The due date for income tax return (ITR)
Exemptions to rebates: Differences between old and new tax regime | Personal Finance – Business Standard
https://www.business-standard.com/finance/personal-finance/exemptions-to-rebates-differences-between-old-and-new-tax-regime-124031400355_1.html Clipped from: https://www.business-standard.com/finance/personal-finance/exemptions-to-rebates-differences-between-old-and-new-tax-regime-124031400355_1.html Taxpayers are given a choice to choose between the old and new tax regimes The due date for income tax return (ITR)
Advance Tax Payment: Last Date, Applicability, Tax Considerations – Here’s all you need to know – Income Tax News | The Financial Express
https://www.financialexpress.com/money/income-tax-advance-tax-payment-last-date-applicability-tax-considerations-heres-all-you-need-to-know-3423999 Clipped from: https://www.financialexpress.com/money/income-tax-advance-tax-payment-last-date-applicability-tax-considerations-heres-all-you-need-to-know-3423999/ Every person whose estimated tax liability is Rs 10,000 or more during a particular financial year would be liable to pay advance
👍👍👍👍👍👍👍Interest Income received from Co-operative Banks cannot be equated with interest received from Co-operative Society: ITAT not allowed deduction u/s 80P (2) (d) of Income Tax Act
Clipped from: https://www.taxscan.in/interest-income-received-from-co-operative-banks-cannot-be-equated-with-interest-received-from-co-operative-society-itat-not-allowed-deduction-u-s-80p-2-d-of-income-tax-act-read-order/373691/ ITAT disallowed deduction under Section 80P (2)(d) of the Income Tax Act, 1961, stating that interest income received from cooperative banks cannot be
👍👍👍👍👍Interest Income Derived by Co-operative Society from any other Co-operative Bank allowable as Deduction u/s 80P(2)(d): ITAT
Clipped from: https://www.taxscan.in/interest-income-derived-by-co-operative-society-from-any-other-co-operative-bank-allowable-as-deduction-u-s-80p2d-itat-read-order/373308/ In a recent judgement, the Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has held that interest income derived by a co-operative
👍👍👍👍👍Denial of deduction claimed u/s 80P(2)(d) of IT Act regard to interest received from Co-Operative Banks /Scheduled Banks : ITAT Directs Readjudication
Clipped from: https://www.taxscan.in/denial-of-deduction-claimed-u-s-80p2d-of-it-act-regard-to-interest-received-from-co-operative-banks-scheduled-banks-itat-directs-re-adjudication-read-order/373205/ The Bangalore bench of Income Tax Appellate Tribunal ( ITAT ) directed re adjudication upon the denial of deduction claimed under Section 80(2)(d) of the
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