ITAT Ahmedabad held that on execution of agreement when the possession was also handed over, the transfer within the meaning of section 2(47)(v) and (vi) was complete and accordingly capital gain provisions gets applicable.
Sanjay Kumar Agarwal, Chairman of CBIC, reviews the Mera Bill Mera Adhikaar Scheme, e-HRMS 2.0, and other initiatives. Learn the latest CBIC updates.
ITAT Mumbai held that in case of company is involved in providing illicit LTCG/ short term capital loss (accommodation entries), a substantial addition has to be made in the hands of beneficiaries and only a protective assessment can be made in the hands of company providing such accommodation entries.
Reserve Bank of India extends Unified Payments Interface (UPI) to include pre-sanctioned credit lines from Scheduled Commercial Banks.
Jharkhand High Court held that once penalty order is set aside, it will be presumed that there is no concealment and hence prosecution under Section 276C(1) of the Income Tax Act will be quashed automatically.
Unpacking 2023 amendments to Central Excise Act’s territorial jurisdictions in Andhra Pradesh vide Notification No. 02/2023-Central Excise (N.T.)
Discover Mera Bill Mera Adhikar scheme, a GST lottery for taxpayers, rewarding those who demand GST invoices. Learn how to participate and benefit from this initiative.
ITAT Delhi held that attribution of profit from offshore supply and services to the Permanent Establishment unsustainable as assessee didn’t have any Permanent Establishment in India in the assessment years under dispute.
Explore 2023 updates to Prevention of Money-laundering (Maintenance of Records) Rules. Learn how these changes impact trust, control, and reporting.
In this blog, we will discuss provisions relevant with taxation of gifts in the hands of individual. First of all, receiver must ensure that gift is from genuine source and is not involving any black money and proceeds of crime.
