Income Tax : Understand the impact of Section 43B(h) on businesses: Learn about deductions for MSME payments and the importance of timely payme...
Income Tax : Explore the impact of Finance Act, 2023, on MSME payment enforcement under section 43B(h) of the Income Tax Act, 1961. Understand ...
Income Tax : Explore the implications of the recent Income Tax amendment to Section 43B affecting MSMEs. Understand how timely payments are cru...
Income Tax : Explore key income tax compliance requirements for charitable and educational institutions under the Income Tax Act for the assess...
Income Tax : Discover simplified taxation scheme under Section 44AD of Income Tax Act. Learn eligibility criteria, exemptions, and key insights...
Income Tax : The ITAT Bangalore ruled that income tax additions can't be based solely on unsubstantiated loose slips, emphasizing the need for ...
Income Tax : ITAT held that time limit for filing rectification applications starts only when assessee is aware of order passed, not from date ...
Income Tax : Analysis of Om Prakash Vs PCIT (ITAT Delhi) case reveals PCIT's jurisdiction limitations on tax issues under Land Acquisition Act ...
Income Tax : Explore the detailed analysis of Jai Parkash Vs PCIT (ITAT Delhi) case where the assessment jurisdiction dispute regarding interes...
Goods and Services Tax : Allahabad High Court held that penalty under Section 54(1)(2) of the U.P. VAT Act, 2008 cannot be imposed in cases, wherein, the a...
ITAT Delhi held that royalty payment and R&D cess on royalty is interlinked. As royalty payment is allowed as revenue expenditure, R&D cess is also allowable as revenue expenditure.
ITAT Pune held that interest granted by the reference Court u/s. 28 of the Land Acquisition Act from the date of possession of land till the date of judgment of High Court is an accretion of the value of the land acquired and accordingly not taxable.
Provisions of section 28 of Income Tax Act, 1961 specify income chargeable to income tax under ‘Profits and gains of business or profession’.
In present facts of the case, the Honble Delhi High Court held that the pre-show cause notice consultation is mandatory under Section 28 of the Customs Act, 1962
Understand the treatment of upfront payment of interest on debentures. Analyze the disallowance by the AO and the spread of expenditure over five years.
Section 28 of Income Tax Act, 1961 – Profits and gains of business or profession. The following income shall be chargeable to income-tax under the head “Profits and gains of business or profession” 1. Income of Business or Profession carried on by the assessee. 2. Compensation received by any person in following cases: a. In […]
Happy to present before all of you, my article on Light!! Camera!! Action!! – Bad Debts Dichotomy correlated with Article 14 of Constitution of India to decipher the Principle of Equality before law and Equal protection to all within the territory of India. Suggestion to improve upon the article are welcomed with folded hands.
The issue under consideration is whether the funds raised from buy back of FCCB at discounting rate is considered as business income and tax u/s 28 of the Income Tax Act?
The issue under consideration is whether the non-compete fee could be taxed under any provision other than Section 28(ii)(a) of the Income Tax Act, 1961?
The issue under consideration is whether the loan given by the Government which was subsequently waived off can be taxed under Section 28(iv) of Income Tax Act?
