Income Tax

Blog, Income Tax, News

December 27, 2022

AO can’t proceed u/s 179 if non-recovery of demand not due to director’s negligence: HC

Case Details: Devendra Babulal Jain … Continue reading “AO can’t proceed u/s 179 if non-recovery of demand not due to director’s negligence: HC”

Blog, Income Tax, News

December 26, 2022

Repeal of Sec. 144B(9) by FA 2022 with retrospective effect isn’t unconstitutional: HC

Case Details: Sapna Flour Mills … Continue reading “Repeal of Sec. 144B(9) by FA 2022 with retrospective effect isn’t unconstitutional: HC”

Blog, Income Tax, News

December 24, 2022

Furnishing delivery challans and purchase bills sufficient to discharge burden of proof: HC

Case Details: PCIT v. Jagdish … Continue reading “Furnishing delivery challans and purchase bills sufficient to discharge burden of proof: HC”

Blog, Income Tax, News

December 23, 2022

HC grants relief to ‘Xiaomi’; set-asides provisional attachment made by AO

Case Details: Xiaomi Technology India … Continue reading “HC grants relief to ‘Xiaomi’; set-asides provisional attachment made by AO”

Blog, Income Tax, News

December 22, 2022

ICAI can initiate inquiry against PNB auditors in Nirav Modi Scam relying upon news reports: HC

Case Details: C.A. Sanjay Jain … Continue reading “ICAI can initiate inquiry against PNB auditors in Nirav Modi Scam relying upon news reports: HC”

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December 22, 2022

CA certificate stating NIL dealings with party isn’t sufficient to drop SCN issued u/s 148A(b): HC

Case Details: Barbrik Projects Ltd. … Continue reading “CA certificate stating NIL dealings with party isn’t sufficient to drop SCN issued u/s 148A(b): HC”

Blog, Income Tax, News

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, Income Tax, News

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, Income Tax, News

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, Income Tax, News

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”