Income from FDRs are treated as income from other sources under Section 56 of the Act. The expenses related to the said interest income earned by the assessee has to be allowed which is permissible under the Statute of law.
HC held that In the present case, the appellant had the right to apply for waiver of the interest charged under Section 234A or Section 234B, or Section 234C
In Finance Act, 2022 new section 194R inserted for deduction of tax at source on benefit or perquisite in respect of business or profession.
Gaus Mohammad Vs ITO (ITAT Allahabad) Assessing Officer as well as the CIT(A) doubted the genuineness of the Will in question without conducting any enquiry or examination of the genuineness. The assessee has produced the affidavit of one of the attesting witness of the Will to prove the Will executed by his father. Therefore, it […]
A. Nagarajan Vs ITO (ITAT Chennai) Upon careful consideration of factual matrix, it emerges that the assessee’s land has been acquired by NHAI for which the assessee has been compensated at certain rates. On one of the parcels of land, a farm house is situated for which separate compensation has been paid. The primary argument […]
Kapri International Pvt. Ltd. (In Liquidation) Through Liquidator Vs CIT (Delhi High Court) Held that any proceeding challenging a decision by the department in respect of tax, interest, penalty, fee etc. would come within the purview of a ‘dispute’ which would enable a party to approach the department for a resolution under the Direct Tax […]
Validity of Status Holder Certificates issued in the FY 2015-16 and 2016-17 under provisions of FTP 2015-20 has been extended upto 30.09.2022
SEBI constituted a Standing Committee to facilitate FPI investments & to advise SEBI on policy matters relating to Foreign Portfolio Investors
SEBI issues Framework for restricting trading by Designated Persons (DPs) by freezing PAN at security level
Held that repair expenditure of propaganda van, a gifted vehicle, was alleged to be met by the donor. The onus was on assessee to negate the allegation of revenue. However, no such onus was discharged. Disallowance of expenditure justified.
