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Join our free webinar on July 7 at 5 PM for insights into 10 recent High Court income tax judgments favoring assessees. Expert analysis by CA Dipak Dama.
Held that contention that during moratorium imposed u/s 14 of IBC, Adjudicating authority shall not pass an order u/s 66 of IBC, is without any merit
Held that interest paid on convertible debentures are allowable as expenditure u/s. 36(1)(iii) of the Act. Such interest cannot be treated as interest on equity.
Held that assessee established identity of the creditors by bringing on record their PANs and complete addresses of the creditors. Hence addition u/s 68, without bringing out any adverse or cogent material to dispute the credit worthiness of the creditors and genuineness of the transactions, is unsustainable
Learn about the provisions of rebates and reliefs under the Income Tax Act in Chapter 8. Discover how these deductions can reduce your tax liability.
Stay compliant with the new MCA rules. Learn about the physical verification requirements for the registered office of companies.
Held that application u/s 11(6) for appointment of an arbitrator after the period of cause of action got extinguished is not maintainable
Merely because a capital receipt is utilized for incurring revenue expenditure it will not change the nature of capital receipt into a revenue item.
Amount paid by the buyer to the tenant for the vacation of tenancy should not be taxed in the hands of the owner of the capital asset.
Once assets have been put to use, claim of depreciation allowance on said assets cannot be restricted. ITAT allows claim of depreciation in respect of closed units or non-functional undertakings
Held that section 18 of MSMED Act and section 7 of A&C Act clarifies that dispute can be referred to Facilitation Council for conciliation and subsequent arbitration if required. Thus, arbitration clause in agreement would not bar reference of dispute to the Facilitation council
