ITAT Pune held that claim for exemption of income under section 11 of the Income Tax Act deniable as Form No. 10B was not submitted along with the return of income nor it was submitted before processing of return of income.
ITAT Pune held that credit for TDS is available in the year in which income is reported, credit of TDS cannot be deferred on the basis of reporting by the deductor.
ITAT Delhi held that disallowance of Electricity Duty payable by the assessee by invoking provisions of section 43B of the Income Tax Act, 1961 is unwarranted and unjustified.
ITAT Ahmedabad held that compensation received from proposed building by way of allotment is extinguishment of right in relation to capital asset and hence provisions of section 45 of the Income Tax Act gets applicable.
ITAT Kolkata held that condonation of delay with explanation like non-availability of tax consultant or illness of Grandson without medical document is not reasonable cause of granting delay. Accordingly, appeals dismissed as time-barred.
HC quashed the assessment orders passed by Revenue Department, on the grounds that no opportunity of hearing was afforded to the assessee.
Today, we talk about section 56 of this act, which discusses gift provisions and their tax implications. This section provides us with several favors. By virtue of this section, Money and gifts received by an individual taxpayer on the occasion of his/her marriage are exempt from income tax doesn’t matter whether clothes are gifted or a whole building.
According to Indian law, any foreign entity registered in India must have a resident director, even though the number of directors depends on the structure of the company you choose to establish.
Explore the efficacy of Reverse CIRP in addressing issues faced by allottees/buyers of properties. Analyze the impact of legal decisions on this insolvency resolution process.
As per Notification No. 78/2020 – Central Tax dated 15th October, 2020, it is mandatory for taxpayers to mention 6-digit HSN Codes for their outward supplies having AATO more than Rs 5 Crores.
