Income Tax

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December 21, 2022

Recovery of bad debts of Companies that got merged is taxable u/s 41(1) in assessee’s hand: HC

Case Details: Sundaram Finance Ltd. … Continue reading “Recovery of bad debts of Companies that got merged is taxable u/s 41(1) in assessee’s hand: HC”

Blog, News, Income Tax

December 20, 2022

Private hospital turned into foundation not exempt from tax if it continues to function same way

Case Details: Fernandez Foundation v. … Continue reading “Private hospital turned into foundation not exempt from tax if it continues to function same way”

Blog, News, Income Tax

December 20, 2022

Gross Direct Tax collections for the FY 2022-23 show 25.90% growth: CBDT

Press Release, dated 18-12-2022 The … Continue reading “Gross Direct Tax collections for the FY 2022-23 show 25.90% growth: CBDT”

Blog, News, Income Tax

December 20, 2022

[Opinion] Doctrine of Legitimate Expectation: Meaning, Concept & its Application

CA Manoj Nahata – [2022] … Continue reading “[Opinion] Doctrine of Legitimate Expectation: Meaning, Concept & its Application”

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December 19, 2022

No TDS liability on contractor for payment to port authorities for import clearance delay

Case Details: DCIT v. International … Continue reading “No TDS liability on contractor for payment to port authorities for import clearance delay”

News, Blog, Income Tax

July 13, 2023

[Opinion] Taxation of the virtual world (Metaverse & Web 3.0) in the real world

Navneet Singal – [2022] 145 … Continue reading “[Opinion] Taxation of the virtual world (Metaverse & Web 3.0) in the real world”

Blog, News, Income Tax

December 17, 2022

Gross receipt calculated by reducing deductions for the purpose of sec. 80P is valid: ITAT

Case Details: Malwa Co-op. L … Continue reading “Gross receipt calculated by reducing deductions for the purpose of sec. 80P is valid: ITAT”

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December 16, 2022

High Court releases attached bank accounts as Fixed Deposit suffices to protect revenue interest

Case Details: FCS Manufacturing (India) … Continue reading “High Court releases attached bank accounts as Fixed Deposit suffices to protect revenue interest”

Blog, News, Income Tax

December 15, 2022

CBDT Exempts NR Not Having Pan From Mandatory E-filing of Form 10F

F No. DGIT(S)-ADG(S)-3/e-Filing Notification/Forms/2022/9227, dated … Continue reading “CBDT Exempts NR Not Having Pan From Mandatory E-filing of Form 10F”

Blog, News, Income Tax

December 15, 2022

Marked-To-Market Loss From Forward Contracts Deductible U/S 37(1): Delhi High Court

Case Details: PCIT v. Simon … Continue reading “Marked-To-Market Loss From Forward Contracts Deductible U/S 37(1): Delhi High Court”