Income Tax

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November 26, 2022

In case of change of AO; proceedings are to be continued from stage at which they were left by earlier AO: SC

Case Details: DCIT Vs. Mastech … Continue reading “In case of change of AO; proceedings are to be continued from stage at which they were left by earlier AO: SC”

Blog, Income Tax, News

November 25, 2022

Advance received from prospective buyers consequent to JDA couldn’t be taxed as Sec. 2(47) isn’t attracted

Case Details: ACIT v. Sri … Continue reading “Advance received from prospective buyers consequent to JDA couldn’t be taxed as Sec. 2(47) isn’t attracted”

Blog, Income Tax, News

November 25, 2022

[Opinion] Time to make Artificial Intelligence-Intelligent & Machine Learning-Learn

Mayank Mohanka – [2022] 145 … Continue reading “[Opinion] Time to make Artificial Intelligence-Intelligent & Machine Learning-Learn”

Blog, Income Tax, News

November 24, 2022

Assessee eligible to get interest on refund arising due to recomputation of income by AO: HC

Case Details: PCIT v. Punjab … Continue reading “Assessee eligible to get interest on refund arising due to recomputation of income by AO: HC”

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November 24, 2022

[Opinion] ‘Accumulated Profits’ – The term that accumulates controversies!

Jatin Banka – [2022] 145 … Continue reading “[Opinion] ‘Accumulated Profits’ – The term that accumulates controversies!”

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November 23, 2022

Tax Dept. conducts search on group engaged in business of gold & diamond jewellery and real estate

Press Release, dated 22-11-2022 The … Continue reading “Tax Dept. conducts search on group engaged in business of gold & diamond jewellery and real estate”

Blog, Income Tax, News

November 23, 2022

Sec. 43CA amendment on sale of immovable property has retro-effect

Case Details: Sai Bhargavanath Infra … Continue reading “Sec. 43CA amendment on sale of immovable property has retro-effect”

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November 22, 2022

[Opinion] Whether assessee is entitled to Sec. 54 deduction if investment made by date of filing of revised ITR?

Mukesh Kohli – [2022] 145 … Continue reading “[Opinion] Whether assessee is entitled to Sec. 54 deduction if investment made by date of filing of revised ITR?”

Blog, Income Tax, News

November 22, 2022

Sec. 80-IB relief not available to assessee manufacturing polyurethane foam in diff. designs for car seats: SC

Case Details: Polyflex (India) (P.) … Continue reading “Sec. 80-IB relief not available to assessee manufacturing polyurethane foam in diff. designs for car seats: SC”

Blog, Income Tax, News

November 21, 2022

Investment made in construction of new house before sale of original asset is also eligible for Sec. 54F relief: HC

Case Details: Bindu Premanandh v. … Continue reading “Investment made in construction of new house before sale of original asset is also eligible for Sec. 54F relief: HC”