Income Tax

Blog, News, Income Tax

December 17, 2023

Pendency of Review Petition Before Apex Court Can’t Be a Ground to Interfere Order Passed by Lower Authority | HC

Case Details: Deputy Commissioner of … Continue reading “Pendency of Review Petition Before Apex Court Can’t Be a Ground to Interfere Order Passed by Lower Authority | HC”

News, Blog, Income Tax

December 15, 2023

[Opinion] Income-tax Implications and Accounting in the Real Estate Sector – Demystifying JDAs & Other Construction Contracts

Navneet Singal – [2023] 157 … Continue reading “[Opinion] Income-tax Implications and Accounting in the Real Estate Sector – Demystifying JDAs & Other Construction Contracts”

Blog, News, Income Tax

December 15, 2023

CIT Can’t Extend Time Limit to Submit Special Audit Report u/s 142(2A) As Power Vests With AO Only | HC

Case Details: PCIT vs. Soul … Continue reading “CIT Can’t Extend Time Limit to Submit Special Audit Report u/s 142(2A) As Power Vests With AO Only | HC”

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December 14, 2023

Tax Dept. is Liable to Lift Attachment If Bank Claims & Exercises Its 1st Charge Over Debt Under SARFAESI Act | HC

Case Details: City Union Bank … Continue reading “Tax Dept. is Liable to Lift Attachment If Bank Claims & Exercises Its 1st Charge Over Debt Under SARFAESI Act | HC”

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December 13, 2023

Sale of Agricultural Land Not Taxable Though Purchaser Changed Land Use From Agriculture to Non-agriculture | ITAT

Case Details: Hiten Tulshibhai Engineer … Continue reading “Sale of Agricultural Land Not Taxable Though Purchaser Changed Land Use From Agriculture to Non-agriculture | ITAT”

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December 13, 2023

[Opinion] Assessment Based on Statistical Parameters – An Overview

Gopal Nathani – [2023] 157 … Continue reading “[Opinion] Assessment Based on Statistical Parameters – An Overview”

Blog, News, Income Tax

December 13, 2023

Special Audit is Valid If Its Approval Considers Assessee’s Response, Revenue Comments, and Includes Hearing Opportunity

Case Details: Jabalpur Development Authority … Continue reading “Special Audit is Valid If Its Approval Considers Assessee’s Response, Revenue Comments, and Includes Hearing Opportunity”

Blog, News, Income Tax

December 13, 2023

Thorough Examination of Merits of Info. in Possession of AO Isn’t Required While Passing Order u/s 148A(d) | HC

Case Details: Vivek Saran Agarwal … Continue reading “Thorough Examination of Merits of Info. in Possession of AO Isn’t Required While Passing Order u/s 148A(d) | HC”

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December 11, 2023

No Sec. 41(1) Additions for Unsecured Loans Not Claimed as Trading Liability; Only Interest Portion to be Added as Income

Case Details: Shimmer Textiles (P.) … Continue reading “No Sec. 41(1) Additions for Unsecured Loans Not Claimed as Trading Liability; Only Interest Portion to be Added as Income”

Blog, News, Income Tax

December 8, 2023

‘NAC’ Not Eligible for Exemption as it Gave Govt. Allotted Land to Joint Stock Co. For Commercial Use | HC

Case Details: National Academy of … Continue reading “‘NAC’ Not Eligible for Exemption as it Gave Govt. Allotted Land to Joint Stock Co. For Commercial Use | HC”