whether disallowance of the expenses only on the basis that there was reduction in the sharing of the revenue in comparison to the earlier years is justified in law?
CBDT issues Detailed guidelines for the implementation of Faceless Assessment Scheme, 2019 and role of residual charges in this regard. F. No.173/165/2020 -ITA-I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ***** New Delhi, dated 14th August, 2020 To, All PrCCsIT, Subject: Guidelines for the implementation of Faceless Assessment […]
The issue under consideration is whether ex parte order passed by CIT(A) because of non attendance of assessee on the date of hearing is justified in law?
Whether the income derived from letting out of the property in an industrial park/SEZ including the amenities would be business income in the hands of the owner of the property?
whether the tribunal was right in coming to the conclusion that the Assessing Officer has not recorded his mandatory satisfaction as required under Section 14A(2) of the Act?
whether the non-filing of prescribed Form No.62 for the third Assessment Year is restrict the Assessee to carry forward losses under Section 72A of the Income TaxAct, 1961?
Whether upward adjustment to book profit under section 115JB of the Act, by treating the loss on purchase and redemption of mutual funds as expenditure relatable to earning exempt income is justified in law?
Seventh Plane Network Private ltd. Vs. Union of India & ORS. ( Delhi High Court) The issue under consideration is whether the petitioner was eligible to apply under the SVLDRS, 2019 even if the amount of duty involved in the audit had not been quantified before 30th June, 2019? High Court states that, the audit […]
The issue under consideration is whether the initiation of inspection, search and seizure under Section 67 of the CGST Act for goods kept under illegal custody is justified in law?
Interest free or concessional loans [Rule 3(7)(i)]: It is common practice, particularly in financial institutions, to provide interest free or concessional loans to employees or any member of his household. The value of perquisite arising from such loans would be the excess of interest payable at prescribed interest rate over interest, if any, actually paid […]
