"WORKING AS A DIRECT TAX MANAGER AT JAYESH SANGHRAJKA AND CO. LLP. "
CBDT issued Circular No. 12/2020 clarifying that provisions of Section 269SU shall not apply, if: a) Specified person having only B-2-B transaction (i.e. no transaction with Retail customer/consumer) b) At least 95% of aggregate of all amounts received during previous year is from mode other than cash.
Income Tax is a subject, discussion on which most people tend to avoid, because of its complexity, and ever-evolving nature. To add to it, various provisions keep changing every year on presentation of Budget by Finance Minister on 01st of February. Further, it is that time of the year when declarations have to be given […]
Its that time of the year when usually, people are finding various ways and means (people knowing to file return) to get their Tax returns filed by either Chartered Accountants or someone who has some knowledge of it and regularly files their return of income over a period of years. However, thanks to the Central […]
It is a very well-known fact that High court only entertains question of law and Income tax Appellate Tribunal (ITAT) is the last fact-finding authority. Thus, finding of fact as given by the ITAT would be basis for deciding the matter by High Court or Supreme Court. If, however findings given by the ITAT is […]
The exercise of jurisdiction by the Commissioner of Income Tax under the provisions of Section 263 has been a matter of controversy. Especially when it comes to denying the deduction which has been allowed by the Assessing Officer during the course of regular assessment
One of the decisions rendered by the Bangalore ITAT in the year 2012 relating to Section 206AA, in case of Bosch Ltd. (141 ITD 38) confirming its ability to Override the provisions of the Entire Income Tax Act. However as regards dispute that was there before the Hon. bench was only with regard to Section 139A(8)(d) read with Rule 114C and 206AA.
