Income Tax

Blog, News, Income Tax

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”

Blog, News, Income Tax

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, News, Income Tax

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”

News, Blog, Income Tax

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”

Blog, News, Income Tax

November 11, 2022

Taxpayer may avail appeal remedy against section 148A(d) order to save writ costs

Section 148A process In the … Continue reading “Taxpayer may avail appeal remedy against section 148A(d) order to save writ costs”

Blog, News, Income Tax

November 10, 2022

[Opinion] Tax Function: Transformation from Compliance to Strategy

Pritin Kumar, Dilip Sutar & … Continue reading “[Opinion] Tax Function: Transformation from Compliance to Strategy”

Blog, News, Income Tax

November 10, 2022

CPC can’t disallow Sec. 11 exemption on a debatable issue while processing ITR

Case Details: Rajiv Gandhi University … Continue reading “CPC can’t disallow Sec. 11 exemption on a debatable issue while processing ITR”

Blog, News, Income Tax

November 9, 2022

Income Tax Department conducts search on politically exposed persons

Press Release, dated 08-11-2022 The … Continue reading “Income Tax Department conducts search on politically exposed persons”

Blog, News, Income Tax

November 9, 2022

No denial of exemption just because sum received as gift isn’t transferred from bank account of relative: ITAT

Case Details: P. Srinivasan v. … Continue reading “No denial of exemption just because sum received as gift isn’t transferred from bank account of relative: ITAT”

Blog, Income Tax

November 8, 2022

Who can make a Declaration & Settle Tax Disputes under Vivad se Vishwas Act

Table of Contents 1. Who … Continue reading “Who can make a Declaration & Settle Tax Disputes under Vivad se Vishwas Act”