Income Tax

Blog, Income Tax, News

November 21, 2022

Corporate trainers/management consultants may avail 44AD lower tax presumptive scheme

Gopal Nathani – [2022] 145 … Continue reading “Corporate trainers/management consultants may avail 44AD lower tax presumptive scheme”

Blog, Income Tax, News

November 19, 2022

No deemed dividend if director deposited Co’s money in his own name to protect interest of Company: ITAT

Case Details: ACIT v. Anilkumar … Continue reading “No deemed dividend if director deposited Co’s money in his own name to protect interest of Company: ITAT”

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November 18, 2022

Sufficiency or veracity of ‘reason to suspect’ in case of a search isn’t a matter to review: HC

Case Details: Chandran Somasundaram v. … Continue reading “Sufficiency or veracity of ‘reason to suspect’ in case of a search isn’t a matter to review: HC”

Blog, Income Tax, News

November 18, 2022

[Opinion] A Gift for Relatives

Meenakshi Subramaniam – [2022] 144 … Continue reading “[Opinion] A Gift for Relatives”

Blog, Income Tax, News

November 17, 2022

[Opinion] Updated Return – A Close Study

V. K. Subramani – [2022] … Continue reading “[Opinion] Updated Return – A Close Study”

Blog, Income Tax, News

November 17, 2022

Sec. 194H TDS applicable on additional sum charged by agents over & above net fare of air tickets: SC

Case Details: Singapore Airlines Ltd. … Continue reading “Sec. 194H TDS applicable on additional sum charged by agents over & above net fare of air tickets: SC”

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November 16, 2022

No Sec. 69 additions in hands of director merely because Company used his PAN to purchase land: ITAT

Case Details: ITO v. Bhavin … Continue reading “No Sec. 69 additions in hands of director merely because Company used his PAN to purchase land: ITAT”

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November 16, 2022

Legal expenses incurred for directors can’t be treated as personal without examining outcome of proceedings

Case Details: Kalaignar TV (P.) … Continue reading “Legal expenses incurred for directors can’t be treated as personal without examining outcome of proceedings”

Blog, Income Tax, News

November 15, 2022

Estimating profit of 3% justified as net profit that prevails in diamond industry ranges b/w 1.5%-4.5%: ITAT

Case Details: Oopal Diamond v. … Continue reading “Estimating profit of 3% justified as net profit that prevails in diamond industry ranges b/w 1.5%-4.5%: ITAT”

Blog, Income Tax, News

November 15, 2022

Trust registration once granted can’t be cancelled based on same set of provisions that were examined earlier: HC

Case Details: Sri. Ramjanki Tapovan … Continue reading “Trust registration once granted can’t be cancelled based on same set of provisions that were examined earlier: HC”