Income Tax : Learn how to optimize corporate tax planning through depreciation. Explore key provisions, asset considerations, and methods for m...
Income Tax : Understand the recent changes in tax audit responsibilities imposed by the Central Board of Direct Tax in India. Explore amendment...
Income Tax : In a landmark ruling, ITAT Mumbai grants Vodafone the right to claim depreciation on goodwill, clarifying that amendments by Finan...
Income Tax : Explore the landmark Supreme Court judgment on Income Tax Rules regarding depreciation claim. No deadline for choosing mode, only ...
Income Tax : Rates of depreciation applicable for income tax purposes from assessment year 2003-04 to 2024-25. This guide includes rates for ta...
Company Law : Key Features of Fixed Asset Management Tool with Depreciation Calculator for Companies ♦ Line wise SLM and WDV Depreciation as p...
Income Tax : Addressing the concerns raised by Agriculture Produce Market Committees (APMCs), it has been decided not to levy the 2% TDS on cas...
Income Tax : The proviso to section 32 provides that the aggregate deduction, in respect of depreciation of buildings, machinery, plant or furn...
Goods and Services Tax : Supreme Court held that the Purchase Price as defined u/s. 2(18) of the Gujarat Value Added Tax Act, 2003 would not include purcha...
Income Tax : CIT(A) decides that interest income from FD linked to business activities is correctly classified as business income, not "Income ...
Income Tax : Detailed analysis of the ITAT Delhi verdict in BSC C and C Kurali Toll Road Ltd. vs ACIT, addressing key tax dispute issues and de...
Corporate Law : NCLT Chennai held that once the resolution plan is approved by Committee of Creditors, only limited judicial review is available f...
Income Tax : ITAT Delhi held that expenditure in Built Operate and Transfer (BOT) project giving rise to an intangible assets eligible for clai...
Income Tax : CBDT inserts new Income Tax Rule 8AC -Computation of short term capital gains and written down value under section 50 where deprec...
Income Tax : Income-tax (9th Amendment) Rules, 2019 – Additional depreciation on motor cars and motor vehicles shall be allowed in certai...
Income Tax : A reading of the agreement between STL and the assessee clarifies that a specific amount, i.e., Rs.9 Crores was paid by the assess...
Income Tax : Notification No. 43/2014-Income Tax S.O. 2399(E).—In exercise of the powers conferred by Section 295 read with Section 32 of the...
Goods and Services Tax : In view of this situation, it is necessary that the procedure for the issuing of such certificates should be standardized. Such ce...
ITAT Mumbai held that surplus on redemption of treasury bills is taxable under the head Capital Gains and not under the head ‘Profits and Gains of Business’.
Explore the ITAT Bangalore order in the case of I&B Seeds Pvt Ltd vs ACIT, directing re-adjudication on the claimed depreciation for goodwill arising from a slump sale.
ITAT Mumbai held that foreign exchange loss incurred by the assessee attributable to purchase of material is revenue expenditure and it cannot be included in the cost of project. Accordingly, the same is allowable as deduction.
Since the coconut oil was sold by assessee in small packs; was displayed in the category of hair care; the manner in which it was to applied on hair; and the purpose for which it was purchased by the consumer leave no manner of doubt that the coconut oil sold by assessee was classifiable in a residual entry attracting tax at the rate of 12.5% .
NCLAT Delhi held that RERA (Real Estate Regulatory Authority) being an aggrieved person under section 61 of I&B Code 2016 has a locus to file an Appeal against order initiating Corporate Insolvency Resolution Process (CIRP).
Delhi High Court held that the period of limitation for cases covered u/s. 49(a) of the Indian Stamp Act, 1899 would be six months from the date on which the stamp paper was spoiled. Accordingly, refund of 90% stamp duty directed.
ITAT Chennai held that disallowance of interest u/s 36(1)(iii) of the Income Tax Act on loans and advances given to subsidiary company unjustified as investment in subsidiary is purely for commercial expediency.
ITAT Jaipur held that non-deposit of employees contribution to ESI and PF within due date as per the respective Act is disallowance by invoking provisions of section 36(1)(va) r.w.s. 2(24)(x) of the Income Tax Act.
The ITAT Pune bench rejects depreciation claim on goodwill in Millennium Engineers & Contractors vs. DCIT case. Detailed analysis of the judgment and its implications.
Explore the landmark Supreme Court judgment on Income Tax Rules regarding depreciation claim. No deadline for choosing mode, only requirement is pre-filing. Details and analysis here.
