Income Tax : Understand Section 43 of the IBC, covering preferential transactions, antecedent debt, look-back periods for related and unrelated...
Income Tax : Learn about taxation on derivatives and F&O transactions, their treatment as business income, audit requirements, and presumptive ...
Income Tax : Explore conflicting rulings on whether bonafide mistakes in disclosing foreign assets under the Black Money Act can avoid penaltie...
Income Tax : F&O traders need to know how their profits are taxed. With the ITR return filing date approaching, it is imperative to know how st...
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 : ITAT held that goodwill arising on amalgamation qualifies as a depreciable intangible asset. It also deleted the TP adjustment on ...
Income Tax : ITAT upheld taxation of IPS and CEV subsidies following the Section 2(24) amendment, while partly allowing the appeal on other iss...
Income Tax : The Tribunal held that Rule 11UA gives the assessee the exclusive option to choose the valuation method for unquoted shares. While...
Income Tax : The ITAT Kolkata held that electricity supplied by captive power plants should be benchmarked using the tariff charged by State El...
Income Tax : ITAT Ahmedabad held that penalty under Section 43 of the Black Money Act could not be imposed when foreign assets were subsequentl...
Income Tax : Notification No. 8/2020-Income-Tax- CBDT has notified Other electronic modes by inserting New Income TAx Rule 6ABBA. It also amend...
Income Tax : Notification No. 15/2014-Income Tax entral Government hereby notifies the Ace Derivatives and Commodity Exchange Limited, Ahmedaba...
On 21.04.2017, a Share Purchase Agreement was executed, wherein the erstwhile Directors sold their equity in favour of Accord Mediplus Pvt. Ltd. Respondent Nos.6 to 12 also resigned from the Trust on 01.09.2017.
Supreme Court held that refund of 100% court fees granted as the amount of court fees involved was not excessive and the dispute was resolved amicably by mediation under section 89 of the Code of Civil Procedure 1908 [CPC].
It was held that writ courts did not interfere in cases where statutory remedies were available unless there was a clear violation of fundamental rights, lack of jurisdiction, or procedural perversity leading to manifest injustice.
RP could not be blamed for having breached the IBC for the CoC to have approved the resolution plan of Parth with requisite majority share which action was taken by the CoC in the exercise of its commercial wisdom.
NCLAT Delhi held that provisions of section 43 of the Insolvency and Bankruptcy Code, 2016 (IBC) cannot be attracted where no transaction was made by the Corporate Debtor.
Telangana High Court held that second vehicle tax under the provisions of Telangana Motor Vehicles Taxation Act doesn’t apply since old vehicle was sold prior to permanent registration of new vehicle purchased.
ITAT Mumbai held that the deeming fiction of section 50C Income Tax Act cannot be extended while working out the written down value (WDV) for the purpose of claiming deprecation on the block of the asset. Thus, disallowance made is liable to be deleted.
Kerala High Court held that a loss in the derivative business is a business loss for the purposes of Section 72, and thus a set off of such business loss would have to be permitted against profits and gains of business.
Held that the capital subsidy should be reduced for computation of book profit. Particularly in view of the excruciating fact that reduction of subsidy from written down value was accepted by the Assessing Officer and he did not tinker with the amount of depreciation claimed.
ITAT Bangalore held that amount of employee’s share to ESI and PF paid after due date provide under the respective statutes is liable to be disallowed. Accordingly, matter referred back for limited purpose of verification of payment challans.
