Income Tax

Blog, News, Income Tax

December 6, 2022

[Opinion] Whether the safe harbour limits provided under the Income-tax Act are prospective or retrospective?

Mukesh Kohli – [2022] 145 … Continue reading “[Opinion] Whether the safe harbour limits provided under the Income-tax Act are prospective or retrospective?”

Blog, News, Income Tax

December 6, 2022

Share valuation report by CA can’t be accepted if it is based on only basic info. supplied by management: ITAT

Case Details: ITO v. LNB … Continue reading “Share valuation report by CA can’t be accepted if it is based on only basic info. supplied by management: ITAT”

Blog, News, Income Tax

December 5, 2022

Time-barred appeal should be allowed if it involves a substantial question of law: HC

Case Details: PCIT v. Soorajmul … Continue reading “Time-barred appeal should be allowed if it involves a substantial question of law: HC”

Blog, News, Income Tax

December 3, 2022

CA not expected to check genuineness of documents submitted by client while issuing Form 15CB

Case Details: Murali Krishna Chakrala … Continue reading “CA not expected to check genuineness of documents submitted by client while issuing Form 15CB”

News, Blog, Income Tax

December 2, 2022

Cash withdrawal by Primary Agricultural Credit Co-operative Societies isn’t exempt from Sec. 194N TDS

Case Details: Molasi Primary Agricultural … Continue reading “Cash withdrawal by Primary Agricultural Credit Co-operative Societies isn’t exempt from Sec. 194N TDS”

Blog, News, Income Tax

December 2, 2022

CBDT notifies specified income of ‘Federation Internationale de Football Association’ exempt u/s 10(39)

Notification No. 126/2022, dated 30-11-2022 … Continue reading “CBDT notifies specified income of ‘Federation Internationale de Football Association’ exempt u/s 10(39)”

Blog, News, Income Tax

December 1, 2022

CBDT specifies income-tax authorities for the purpose of authorisation of survey u/s 133A

Order F.no. 282/15/2022-IT (inv.V) dated, … Continue reading “CBDT specifies income-tax authorities for the purpose of authorisation of survey u/s 133A”

Blog, News, Income Tax

December 1, 2022

Gold wastage during creation of ornaments can’t be treated as ‘making charges’

Case Details: P.R. Gold and … Continue reading “Gold wastage during creation of ornaments can’t be treated as ‘making charges’”

Blog, News, Income Tax

November 30, 2022

Sec. 263 revision initiated by CIT second time to cancelling non-existing original assessment order isn’t tenable: HC

Case Details: PCIT v. Padma … Continue reading “Sec. 263 revision initiated by CIT second time to cancelling non-existing original assessment order isn’t tenable: HC”

Blog, News, Income Tax

November 30, 2022

[Opinion] Audit Objections cannot be the sole basis for Revision u/s 263

Amit Kumar Gupta – [2022] … Continue reading “[Opinion] Audit Objections cannot be the sole basis for Revision u/s 263”