Income Tax : Learn if cash payments over ₹10,000 for electricity bills are allowed under Section 40A(3) of Income Tax Act. Understand exempti...
Income Tax : Section 40A(3) restricts cash payments exceeding ₹10,000 in business transactions. Exceptions apply for specific cases like tran...
Income Tax : Explore the rules and regulations governing cash transactions in real estate deals to ensure tax compliance. Learn about permissib...
CA, CS, CMA : जानें जीएसटी और आयकर एक्ट में नकद संव्यवहार के नि�...
Income Tax : Dive into critical tax regulations and provisions, from related party payments to cash disallowance, and learn how they impact you...
Income Tax : It is suggested that there should be a positive provision under the I.T. Act that any transaction involving more than Rs.3,00,000/...
Income Tax : Aggrieved against the directions of CIT(A) to the AO for assessment of gross profit on unaccounted sales of unaccounted purchases ...
Income Tax : ITAT Raipur that where the income of the assessee has been computed by applying a gross profit rate, there is no need to look into...
Income Tax : The case of the assessee was selected for complete scrutiny assessment and notice u/s 143(2) of the Income Tax Act, 1961 was issue...
Income Tax : ITAT Nagpur held that addition towards unexplained expenditure u/s. 69C of the Income Tax Act not warranted since the same are alr...
Income Tax : Delhi ITAT dismisses revenue's appeal, holding cash advance for property purchase intended as investment not subject to Section 40...
In PCIT Vs Mahabir Jute Mills Lts., the Allahabad High Court ruled that if books of accounts are not objected to, the AO cannot disturb gross profit rates. Detailed analysis here.
Explore the rules and regulations governing cash transactions in real estate deals to ensure tax compliance. Learn about permissible payment methods and the implications of cash transactions under the Income-tax Act.
जानें जीएसटी और आयकर एक्ट में नकद संव्यवहार के नियम और प्रावधान। कितनी धनराशि के लिए टैक्स इनवॉइस जारी किया जा सकता है? पढ़ें और समझें।
Calcutta High Court ruling states payments by supervisors to individual labourers, each not exceeding Rs. 20,000, cannot be disallowed under Section 40A(3) of the Income Tax Act.
Analysis of Bharat Jaroli vs PCIT case by ITAT Indore, highlighting AO’s failure to scrutinize cash payments under Sec 40A. Detailed review and outcome provided.
Read the full text of the ITAT Chandigarh’s decision in the case of Manuj Jain HUF Vs PCIT. The assessment order was upheld, rejecting the Section 263 revision regarding demonetization cash deposits.
Explore case of Manipal Hospitals (Dwarka) Pvt Ltd vs. ACIT where ITAT Bangalore ruled that AO cannot make adhoc disallowance under Section 40A(2)
ITAT Delhi rules that no addition shall be made when commission earned from consignment sale of foodgrains is reflected in P&L account. Detailed analysis of ITO Vs Smt. Keshar Devi.
Explore the case of Zheng Yuan Mobiles Pvt. Ltd. vs DCIT at ITAT Delhi. Learn why improper vouchers led to disallowance and how it was overturned.
ITAT Rajkot rules in favor of Conor Granito P. Ltd., setting a justifiable net profit rate on unaccounted sales based on business nature, dismissing Revenue’s appeal for a higher rate.
