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CA, CS, CMA : Stay updated with the latest legal compliances and key deadlines for November 2024 in India, including FEMA filings and ITR submis...
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Income Tax : Explore the Malad Chamber of Tax Consultants' 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961,...
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Income Tax : Join the exclusive webinar on Understanding TDS on Purchase/ Sale of Property under Section 194IA of Income Tax Act, 1961. Many ta...
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Income Tax : ITAT Ahmedabad held that AO had no jurisdiction to initiate proceedings u/s. 153C of the Income Tax Act beyond permissible period ...
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The issue under consideration is whether the CIT(A) is correct in charging depreciation at the rate of 30% on wheel loaders and graders?
The issue under consideration is whether the assessee having two properties has right to choose Self occupied and deemed let out property for the purpose of taxation?
whether the AO is correct in disallowance made u/s 14A irrespective of the fact that assessee do not have any Exempt Income during the Year?
Where assessee duly deducted tax at source under section 194C at the end of the year and remitted the same to Government account, the penalty imposed under section 271C for assessee’s failure to deduct tax at source and remittance to Government account, would not be sustainable.
In India, every person who comes under taxable income keeps no stone unturned to save his/her taxes. He or she tries to avail various deductions as permitted under section 80C to 80U available under the income tax act 1961. Fortunately, now in India, there are various incomes and investments that are tax-free. In this column, […]
The issue under consideration is whether under block of assets, the depreciation allowed even for those assets which have not been used during the year under consideration?
ITAT states that AO had made specific enquiry into loan transactions of assessee based on the CASS parameter. In response to enquiries made under section 133(6), loan creditors had filed their documents/details to substantiate/prove their identity(ies), creditworthiness and genuineness of the loan transactions. AO having examined all the details had not drawn any adverse inference against any loan creditors and did not follow a view ‘unsustainable in law’ and assessment order was not the result of non-application of mind or any inadequate enquiry, accordingly, invocation of jurisdiction under section 263 was untenable.
Here we have compiled Status of Writ Filed in Various High Court for Extension of Tax Audit Due Date. As per our knowledge 12 writ petition been filed with various High Courts out of which Six Writ petition been already disposed off, Five are pending and status of one is not known to us. 1. […]
The issue under consideration is whether the addition made by AO u/s 68 of Income tax Act, 1961 is justified in law?
As concerns of the assessees have been suitably redressed with extension of due date by one month (i.e. till 31.10.18), representation of the Tax Bar Association, Guwahati dated 20.09.18, requesting for further extension of due date for filing ITR/TAR beyond 31.10.18 is hereby rejected.
