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Archive: 01 September 2023

Posts in 01 September 2023

DGFT Monthly Workshops on Cross-Border E-Commerce

September 1, 2023 720 Views 0 comment Print

Participate in DGFT’s monthly workshops for cross-border E-Commerce exports, covering logistics, customs, payments, and more. Experienced exporters can share insights as guest speakers.

Implication of Cash transactions under Income Tax Act, 1961

September 1, 2023 7794 Views 0 comment Print

Through Income tax Act, 1961 cash transaction has been limited, restricted in certain cases. In this article you will get insights about how much you are allowed to transact in cash.

Understanding Judicial Review in IBC and Role of Adjudicating Authority

September 1, 2023 2376 Views 0 comment Print

Explore scope of judicial review in IBC as defined by Supreme Court. Learn how Adjudicating Authority’s role is limited to specific parameters, avoiding interference with commercial decisions.

ICAI President’s Message – September 2023

September 1, 2023 705 Views 0 comment Print

Insights into India’s G20 presidency, sustainable development goals, ICAI initiatives, and the importance of environmental, social & governance reporting.

Interest paid on housing loan not allowable as cost of acquisition

September 1, 2023 7785 Views 0 comment Print

ITAT Mumbai held that interest paid on housing loan borrowed for purchase of flat is not allowable as cost of acquisition.

Addition for Fall in Gross Profits Without Proof of Suppression is Unsustainable

September 1, 2023 1464 Views 0 comment Print

ITAT Delhi held that addition on the basis of fall in gross profits without pointing out any specific discrepancy in accounts that resulted into suppression of true figure of gross profit is unsustainable in law.

Surrendered Income of Doctor is Professional Income unless there is clear contrary Evidence

September 1, 2023 516 Views 0 comment Print

ITAT Chandigarh rules on treating surrendered income as medical profession income in the case Bharat Vipan Garg Vs PCIT. Dive deep into the judgment details.

Addition solely based on estimation without rejecting books is not sustainable

September 1, 2023 1725 Views 0 comment Print

Analysis of ITAT Delhi’s decision on the case between Home Developers Project Pvt. Ltd. & DCIT. Focus on AO’s failure & burden of evidence on the assessee.

No Section 14A Disallowance if No Expenditure Claimed in P&L accounts

September 1, 2023 693 Views 0 comment Print

Delhi’s ITAT rules on disallowance under section 14A of the Income Tax Act. The verdict clarifies treatment of revenue expenses not claimed in P&L accounts.

Share Premium not taxable in the hands of investee if Investor already taxed for it

September 1, 2023 573 Views 0 comment Print

Analysis of ITAT Chennai’s decision on taxing share premium: ACIT Vs Luncar Finance Pvt. Ltd. A focus on already taxed income in the hands of Investor Company

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