Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
Income Tax : Understand Section 44AD of the Income Tax Act: presumptive business income, eligibility, turnover limits, and tax implications for...
Income Tax : Learn about Section 44AD, a simplified method to compute business income, excluding some entities. Thresholds and tax implications...
Income Tax : Sunset date for claiming Income Tax exemption for SEZs – Time to further extend the sunset date mentioned under Section 10AA...
Income Tax : Section 10A of the Income Tax Act, 1961 (the Act for short) deals with special provision in respect of newly established undertaki...
Income Tax : FM: Role of IT Sector is Crucial in Order to Promote E-Governance for Empowering Citizens; to Promote the Inclusive and Sustainabl...
Income Tax : Infosys Technologies Ltd. Tuesday said it will appeal against an order from the income tax department seeking more than 4 billion ...
Income Tax : Supreme Court held that Section 10A is a deduction provision, but the deduction must be allowed while computing the eligible under...
Income Tax : Transfer pricing principles dictate that a captive, risk-mitigated service provider could not be benchmarked against full-fledged,...
Corporate Law : NCLT Amaravati held that the corporate debtor's OTS proposals constituted acknowledgments of debt, giving rise to a fresh limitati...
Income Tax : The Karnataka High Court held that where the Revenue had consistently accepted the same interest rate in earlier and subsequent as...
Income Tax : The Tribunal held that delayed filing of Form 10-IC should not defeat the assessee's substantive right to opt for the concessional...
Income Tax : As per section 10A(4) of Income Tax Act, 1961, profits derived from export of articles or things or computer software shall be amo...
Income Tax : Circular No. 14/2014-Income Tax CBDT had issued Circular No.12/2014 dated 18th July, 2014 to clarify that mere transfer or re-dep...
Income Tax : Circular No. 12/2014-Income Tax Section 10AA of the Income-tax Act, 1961, inter-alia, provides for deduction in respect of the pr...
Income Tax : A clarificatory Circular No. 01/2013 dated 17.01.2013 was issued by CBDT to address various contentious issues leading to tax disp...
Income Tax : A clarificatory Circular No. 01/2013, dated 17-1-2013 (hereinafter referred to as 'Circular') was issued by CBDT to address variou...
NCLAT Delhi held that application under section 9 of the Insolvency and Bankruptcy Code rightly dismissed as debt fell within restricted period under section 10A. accordingly, order of Adjudicating Authority upheld.
Higher profit per se cannot lead to the conclusion that there is arrangement between the parties. The concept of PLI cannot per se be applied to hold that assessee has earned higher profit
Merely the fact that the liberty was given to the Appellant by the court and he failed to pursue the first appeal filed against the order dated 10.04.2023 did not mean that the Appellant could change the date of default at its convenience.
Chandigarh ITAT allows 80P deduction for Habrol Co-op Society, ruling against disallowance due to a clerical error in tax return. Section 80A(5) not applicable.
NCLT Delhi held that the pendency of proceedings before Debt Recovery Tribunal [DRT] does not preclude or bar the initiation of Corporate Insolvency Resolution Process [CIRP] under the Insolvency and Bankruptcy Code, 2016 [IBC].
Kerala High Court held that criminal case under section 454(8) of the Companies Act unsustainable since appeal filed by the petitioner against the penalty order is still pending consideration. Thus, the Criminal Miscellaneous Cases allowed and complaint quashed.
During the course of assessement proceedings, AO noted that the assessee has earned interest income on fixed deposits made with banks which has been included in the business income while computing deduction u/s 10AA of the Act.
NCLAT Delhi held that no default falling within the prohibited period of Section 10A of the Insolvency and Bankruptcy Code can form basis for initiating CIRP. Accordingly, section 9 application rightly rejected.
NCLAT Delhi held that when the debt invoking the guarantee falls between the 10A period application u/s. 7 of the Insolvency and Bankruptcy Code is barred by limitation. Accordingly, order rejecting application upheld.
Understand Section 44AD of the Income Tax Act: presumptive business income, eligibility, turnover limits, and tax implications for FY 2025-26.
