Income Tax

Blog, Income Tax, News

December 9, 2022

CBDT issues circular on TDS from salaries for Financial Year 2022-23

Circular No. 24/2022, dated 07-12-2022 … Continue reading “CBDT issues circular on TDS from salaries for Financial Year 2022-23”

Blog, Income Tax, News

December 9, 2022

Only profit element to be added as income if there was diff in turnover declared in P&L and Sales Tax order: ITAT

Case Details: Nikhil Garg v. … Continue reading “Only profit element to be added as income if there was diff in turnover declared in P&L and Sales Tax order: ITAT”

Blog, Income Tax, News

December 8, 2022

A transaction can’t be treated as Benami if alleged beneficial owner is actually the joint owner of property: ITAT

Case Details: ACIT v. Tupelo … Continue reading “A transaction can’t be treated as Benami if alleged beneficial owner is actually the joint owner of property: ITAT”

Blog, Income Tax, News

December 8, 2022

[Opinion] Perplexity on claim of Foreign Tax Credit of State taxes paid in countries with which India has DTAA

Deepak Goel – [2022] 145 … Continue reading “[Opinion] Perplexity on claim of Foreign Tax Credit of State taxes paid in countries with which India has DTAA”

Blog, Income Tax, News

December 7, 2022

[Opinion] Writ vs Appeal – The Quintessential Conundrum

Sanjeeva Narayan and Bhavesh Jindal … Continue reading “[Opinion] Writ vs Appeal – The Quintessential Conundrum”

Blog, Income Tax, News

December 7, 2022

Demerger sanctioned by NCLT is tax-compliant only if conditions in Sec. 2(19AA) are satisfied

Case Details: Grasim Industries Ltd. … Continue reading “Demerger sanctioned by NCLT is tax-compliant only if conditions in Sec. 2(19AA) are satisfied”

Blog, Income Tax, News

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, Income Tax, News

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, Income Tax, News

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, Income Tax, News

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”