Income Tax : This guide explains how Section 43B(h) defers tax deductions where payments to Micro and Small Enterprises remain unpaid beyond th...
Income Tax : The Central Government, in the Union Budget 2026, has proposed an important amendment concerning employee welfare funds. The objec...
Income Tax : 2023 Income Tax change (Sec 43B(h)) mandates that deductions for payments to Micro and Small Enterprises are allowed only when pai...
Income Tax : Delhi High Court upholds disallowance of delayed PF/ESI contributions under Section 143(1), but permits deductions when the due da...
Income Tax : Practical guide to tax audit under Section 44AB for trader assessees, covering groundwork, data analysis, compliance checks, and f...
CA, CS, CMA : Explore recent updates on corporate tax rates, MSME concerns over tax deductions, and GST rates for shawls as addressed in Lok Sab...
Income Tax : Punjab Accountants Association urges Finance Minister to amend Section 43(B)(h) for MSMEs, proposing better payment timelines and ...
Income Tax : Discover how proposed amendment in Section 43B of Income Tax Act, 1961, affects MSMEs. Learn about potential challenges and sugges...
Income Tax : Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down ...
Income Tax : Explore how the new 43 B (h) clause of the IT Act impacts Kerala Textiles and Garments Dealers Welfare Association and their appea...
Income Tax : The Tribunal ruled that although CSR expenditure is not allowable under Section 37, eligible donations made to recognised institut...
Income Tax : The ITAT Delhi held that the Transfer Pricing Officer could not arbitrarily determine the arm's length price of management service...
Income Tax : The ITAT Delhi held that the Revenue could not substitute the assessee's consistent method of revenue recognition with the Percent...
Income Tax : The ITAT Mumbai held that Explanation 1 to Section 37(1) could not apply in the absence of any finding by the competent authority ...
Income Tax : The dispute concerned deduction of CSR expenditure incurred before Explanation 2 to section 37(1) became applicable. The ITAT held...
Income Tax : Central Board of Direct Taxes (CBDT) has recently issued a crucial notification concerning the payment of interest on loans to Non...
Corporate Law : Explore how the recent policy update impacts MSMEs and traders regarding delayed payment benefits under the MSMED Act, 2006. Insig...
Income Tax : Disallowances made under sections 32, 40(a)(ia), 40A(3), 43B, etc. of the Act and other specific disallowances, related to the bus...
Income Tax : Income Tax Circular No. 22/2015 W.c.f. 1.4.1988, the settled position is that if the assessee deposits any sum payable by it by wa...
Income Tax : Whether the liability has been deferred or not has to be considered not from the simplistic point of the term 'defer' but in conte...
Explore the ITAT Ahmedabad ruling on the disallowance of expenses under Section 43B for Himatnagar Nagrik Sahakari Bank Ltd. Learn about the dispute, the arguments presented, and the decision. Find insights into the assessment order, grounds of appeal, and the National Faceless Appeal Center’s confirmation.
The present appeal has been filed by the revenue against order passed by the CIT(A) challenging action of CIT(A) in allowing carry forward of unabsorbed depreciation of Rs. 19,89,09,661/- pertaining to A.Y.s 1997-98 to 2000-01 for set off without any time limit.
In a case between Giri Bahadur and the Ward, ITAT Mumbai dismisses the appeal, upholding disallowance of late PF/ESIC contributions under Section 36(1)(va) of the Income Tax Act.
Read about the ITAT Delhi’s direction to submit sales tax documents within 6 months. Analysis of the case between Jay Polychem India Ltd and ACIT.
ITAT Surat held that invocation of revisional jurisdiction under section 263 of the Income Tax Act unsustainable as order passed by AO was neither erroneous nor prejudicial to the interest of the revenue.
ITAT Chennai held that subsidy received from Government of India under the Focus Market Scheme is Revenue in nature. The same cannot be at any stretch of imagination considered as capital in nature.
Delhi High Court held that on account of lack of facts and material particulars, the relief as sought by the petitioner not granted. Concluded that if material facts are suppressed or distorted, the very functioning of writ courts and exercise would become impossible.
Read about ITAT’s decision to allow bonus deduction under Section 43B of the Income Tax Act for Adani Power Ltd. for Assessment Year 2019-20.
Delhi High Court’s ruling on deductibility of provident fund and ESI payments made after the due date due to a national holiday. Analysis and implications.
ITAT Mumbai held that amendment to section 36(1)(va) is not applicable to A.Y. 2017-2018. Accordingly, as the employees contribution to provident fund is deposited before the due date u/s. 139(1) of the Act, the same cannot be disallowed.
