Income Tax : The removal of the provision means companies and investors are no longer taxed on share premiums exceeding fair market value, crea...
Income Tax : This explains how fair market value governs taxation under multiple provisions including gifts, ESOPs, and slump sales. It highlig...
Income Tax : Courts hold that one-time alimony is a capital receipt arising from extinguishment of rights and not taxable. The ruling clarifies...
Income Tax : The article explains how violating the twin conditions under Section 50C(2) can block valuation relief and trigger taxation on hig...
Income Tax : Overview of income taxed under other sources, including dividends, winnings, interest, deemed income, forfeited advances, family p...
Income Tax : Finance Bill 2024 proposes the sunset of Section 56(2)(viib) from April 2025, eliminating the tax on shares issued above face valu...
Income Tax : Amendment to section 56(2)(viib) of Act extending the applicability of section to issue of shares to non-residents has been made a...
Income Tax : CBDT proposes changes to Rule 11UA in respect of ANGEL TAX- Also proposes to notify Excluded Entities In the Finance Act, 2023, ...
Income Tax : IMB Certificate of Eligible Business is not a pre-requisite to avail the benefits of non-application of the provisions of clause (...
Income Tax : Representation for widening the scope of benefit in case of difference in agreement price and Circle Rate of property is upto 20 p...
Income Tax : Tribunal ruled that objections relating to defective title, encroachments, and legal disputes require proper valuation examination...
Income Tax : Tribunal ruled that future projections under DCF method cannot be tested solely against later actual financial performance. It obs...
Income Tax : The Supreme Court held that grants disbursed by a statutory corporation formed part of its core business functions and qualified a...
Income Tax : Madras High Court held that time-share membership fees could not be fully taxed in the year of receipt since the assessee had cont...
Income Tax : Mumbai ITAT held that Section 56(2)(x) applies to purchase of MHADA leasehold property rights despite reliance on Section 50C ruli...
Income Tax : Notification regarding Income-tax Act Section 56(2)(viib) and assessment of Startup Companies. Clarifications for assessing recogn...
Income Tax : CBDT) amends Income Tax Rule 11UA regarding valuation of unquoted equity shares for tax purposes. Learn about changes in this amen...
Income Tax : Details of Sixteenth Amendment to Income Tax Rules (2023) on computation of income chargeable under life insurance policies as per...
Income Tax : In the Finance Act, 2023, an amendment was introduced in this provision to bring the consideration received from non-residents wit...
Income Tax : CBDT issued Notification No. 29/2023- Income-Tax specifying certain classes of persons for the purpose of sub-clause (ii) of th...
Bombay High Court held that an agreement for providing manpower to perform maintenance services is not a contract of sale but is a contract for service under the provisions of the Maharashtra Value Added Tax Act, 2002.
Addition made under Section 69 on account of the difference in excess stock of 22 Kt Gold and Polki Jewellery was not justified as the total weight of items of 22KT Gold jewelry and 22KT Gold Polki jewelry was 36,943 gms, and as per the estimated value, the difference was merely 113.50 gms, which was 0.32%.
ITAT Chennai held that disallowance of expenditure towards helper allowance claimed as deduction u/s. 10(14)(i) of the Income Tax Act rightly sustained as no supporting documents submitted.
Explore the ITAT Mumbai decision in Rekha Singh vs ITO, directing the consideration of stamp duty value on the date of allotment for Section 56(2)(vii)(b) purposes. Detailed analysis and implications.
Explore reality of startup deductions & Tax Illusion they create in Indian economy with Startup India Initiative. Discover dedicated team managing many programs & governing initiative with this post.
Delhi High Court held that interest on delayed refunds as per section 56 of the Delhi Goods and Services Tax Act, 2017 is payable when refund remains unpaid even after sixty days from the date of application for refund.
Kerala High Court held that the provisions i.e. Sections 14A & 74H of the Kerala Co-operative Societies Act, 1969 not relating to any aspect of banking are within the legislative competence of the State Legislature.
ITAT Mumbai upholds addition in Osianama Learning Experience Pvt. Ltd. case under Section 56(2)(viib) of the Income Tax Act, related to excess consideration received on allotment of shares.
Explore the intricacies of Diwali gift tax provisions in India. Uncover the exemptions, taxable scenarios, and asset considerations that can impact your festive generosity.
Delhi High Court held that initiation of proceedings under section 56 of the Foreign Exchange Regulation Act, 1973 (FERA) without issuance of show cause notice or opportunity notice is against the principle of natural justice and hence untenable-in-law.
