Income Tax

Blog, Income Tax, News

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”

Blog, Income Tax, News

December 19, 2022

[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, Income Tax, News

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”

Blog, Income Tax, News

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, Income Tax, News

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, Income Tax, News

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”

Blog, Income Tax, News

December 14, 2022

ITAT rules that sum paid from CCD conversion to IPO cannot be treated as interest for Sec. 194A TDS

Case Details: Spectrum Power Generation … Continue reading “ITAT rules that sum paid from CCD conversion to IPO cannot be treated as interest for Sec. 194A TDS”

Blog, Income Tax, News

December 14, 2022

[Opinion] Changing Indian Tax Residency in light of UAE’s new Corporate Tax Law

Mayank Mohanka – [2022] 145 … Continue reading “[Opinion] Changing Indian Tax Residency in light of UAE’s new Corporate Tax Law”

Blog, Income Tax, News

December 13, 2022

No sec. 68 additions if cash sales made by assessee were duly supported with sales invoices: ITAT

Case Details: NECX (P.) Ltd. … Continue reading “No sec. 68 additions if cash sales made by assessee were duly supported with sales invoices: ITAT”

Blog, Income Tax, News

December 12, 2022

No disallowance if purchases made on last day not shown under closing stock as same was included in sales: ITAT

Case Details: ITO v. Pravinbhai … Continue reading “No disallowance if purchases made on last day not shown under closing stock as same was included in sales: ITAT”