Income Tax

Blog, News, Income Tax

September 5, 2024

[Opinion] Gift by Companies | An Analysis of Amendment to Section 47(iii) of the IT Act

Bharathi Krishnaprasad & Varshini U … Continue reading “[Opinion] Gift by Companies | An Analysis of Amendment to Section 47(iii) of the IT Act”

Blog, News, Income Tax

September 5, 2024

[Opinion] Budget 2024 | Rationalization of Re-Assessment Provisions

CA Tanmay Jain – [2024] … Continue reading “[Opinion] Budget 2024 | Rationalization of Re-Assessment Provisions”

Blog, News, Income Tax

September 5, 2024

SetCom’s Order Accepting Explanation of Gifts Received from Friends and Relatives Couldn’t Be Faulted | HC

Case Details: Principal Commissioner of … Continue reading “SetCom’s Order Accepting Explanation of Gifts Received from Friends and Relatives Couldn’t Be Faulted | HC”

News, Blog, Income Tax

September 3, 2024

[Opinion] Applicability of Section 87A in Cases Where Total Income Exceeds Rs. 7 Lakhs

CA V K Subramani – … Continue reading “[Opinion] Applicability of Section 87A in Cases Where Total Income Exceeds Rs. 7 Lakhs”

Blog, Income Tax

September 2, 2024

Key Amendments Impacting NGOs, Exemptions, and Compliance

The Union Budget 2024 introduces … Continue reading “Key Amendments Impacting NGOs, Exemptions, and Compliance”

Blog, News, Income Tax

September 2, 2024

CBDT Launches e-DRS 2022 to Minimize Litigation and Offer Relief to Eligible Taxpayers

Press Release, dated 30-08-2024 The … Continue reading “CBDT Launches e-DRS 2022 to Minimize Litigation and Offer Relief to Eligible Taxpayers”

News, Blog, Income Tax

October 2, 2024

Sworn Statement Recorded u/s 132(4) of IT Act Can Be Relied Upon in Proceedings Under PBPT Act

Case Details: K. R. Radhakrishnan … Continue reading “Sworn Statement Recorded u/s 132(4) of IT Act Can Be Relied Upon in Proceedings Under PBPT Act”

Blog, News, Income Tax

August 31, 2024

ITAT Restricted Penalty to 50% as AO Nowhere Stated That Clause (8) of Sec. 270A Was Applicable

Case Details: Ashok Kumar Gupta … Continue reading “ITAT Restricted Penalty to 50% as AO Nowhere Stated That Clause (8) of Sec. 270A Was Applicable”

Blog, News, Income Tax

August 30, 2024

[Opinion] Which Ruling Should Be Applied If Two Non-Jurisdictional Courts Make Conflicting Decisions?

Mukesh Kohli – [2024] 165 … Continue reading “[Opinion] Which Ruling Should Be Applied If Two Non-Jurisdictional Courts Make Conflicting Decisions?”

Blog, News, Income Tax

August 30, 2024

No Penalty u/s 270A as Loss Declared Under ‘Income from Other Sources’ Couldn’t Be Set Off or Carried Forward | ITAT

Case Details: Badaud Shri Vardhaman … Continue reading “No Penalty u/s 270A as Loss Declared Under ‘Income from Other Sources’ Couldn’t Be Set Off or Carried Forward | ITAT”