Income Tax : Explore recent Supreme Court rulings (2023) on income tax issues. Highlights of key cases, analysis, and implications....
CA, CS, CMA : Discover the major changes in ITR forms for FY 2023-24 (AY 2024-2025). Highlights include new sections for retirement benefit acco...
Income Tax : Tax planning while setting up of a business with reference to location (2021-2022 A.Y, A.Y 2022-2023 , A.Y 2023-2024 and A.Y 202...
Income Tax : Recently, I was approached by a Builder Group seeking a number of clarifications, in respect of the incentive granted U/S 80-IB(10...
Income Tax : Whether nearby cities which are in 25 km from municipality are to be considered at par with metro cities for FY 2016-17? Solution:...
Income Tax : The office of the Comptroller & Auditor General (C & AG) conducts compliance as well as performance audit relating to specific are...
Income Tax : The CBDT did not have any established mechanism to assess the impact of revenue foregone on account of deduction under section 80 ...
Income Tax : Industry chamber Assocham today asked the government to re-introduce the tax exemption scheme to promote affordable housing in the...
Income Tax : Section 80-IB (10) of the Act is aimed at promoting construction of housing projects, so as to address the problem of shortage of ...
Income Tax : Sushanto Roy, CEO, Sahara Prime City, has in a pre-Budget wish list of expectations said: "Given the pent-up demand for affordable...
Income Tax : The dispute concerned whether deduction under Section 80IB should be reduced by the amount already allowed under Section 80HHC. IT...
Income Tax : ITAT Chennai held that there is no provision under the Income-tax Act allowing substitution of the actual cost of land with its fa...
Income Tax : The Tribunal held that the facts relating to delayed revised return in Shriram Investments were distinguishable and therefore did ...
Income Tax : Delhi ITAT Restricts Corporate Guarantee Fee to 0.30% After Finding Actual Interest Saving Was Only 0.60%; Holds TP Adjustment Mus...
Income Tax : The Madras High Court held that taxable income was not properly computed where deduction under Section 80IB was reduced before cal...
Income Tax : It is a settled position that revenue subsidies received from the Government towards reimbursement of cost of production/manufactu...
Income Tax : Notification No. 2/2011 - Income Tax In the notification of the Government of India in the Ministry of Finance, Department of Rev...
Income Tax : Notification No. 01/2011- Income Tax In exercise of the powers conferred by clauses (a) and (b) of sub-section (10) of section 80-...
Income Tax : Notification No. 67/2010 - Income Tax In exercise of the powers conferred by the proviso to Clause (a) and (b) of sub-section (10)...
Income Tax : Instruction No. 4/2009, dated 30-6-2009 Under sub-section (10) of section 80-IB an undertaking developing and building housing pro...
ITAT Kolkata held that duty drawback is part of gross receipts for the purpose of calculation of ‘gross receipts’ under the presumptive taxation as per section 44AD of the Income Tax Act. Thus, appeal allowed.
ITAT Ahmedabad held that reopening of assessment u/s. 147 on the issue which is already dealt in the original assessment void ab initio and bad in law since no new fresh material was pointed out at the time of reopening of assessment.
ITAT Ahmedabad held that deduction under Section 80-IB/80-IE of the Income Tax Act disallowed on loan to employees and bank deposits as such interest income is not income derived from industrial undertaking.
ITAT Ahmedabad overturns ex parte order against Takshashila Realties Pvt Ltd due to non-receipt of notices, remands case for fresh consideration.
ITAT Mumbai held that disallowance made by the CPC u/s. 143(1)(a) of the Income Tax Act on the claim of deduction u/s. 80P of the Income Tax Act is beyond the scope of adjustment u/s. 143(1) accordingly the adjustment is deleted.
Rajasthan High Court rules on CIT Kota Vs World Wide Stone case, addressing deductions under Sec. 80 IB for activities involving mining, cutting, and polishing.
Bombay High Court held that upto 1 April, 2005, the expression ‘built up area’ would exclude the balcony area and are not to be included while computing the built up area of the residential units, in housing project eligible for deduction u/s. 80IB(10) of the Income Tax Act.
Detailed analysis of Shipra Estate Ltd. & Jai Krishan Estate Developers Pvt. Ltd. vs ACIT case by ITAT Delhi on eligibility for deduction under section 80IB(10) of the Income Tax Act, focusing on the project completion method and built-up area criteria.
Explore the ITAT Ahmedabad ruling on Intas Pharmaceuticals Vs ACIT, focusing on working capital adjustment and notional interest on trade receivables.
Bhatewara Associates challenged an assessment order, leading to a High Court ruling cautioning against over analysis by tax authorities, emphasizing timely justice. Read the full judgment here.
