Mukul gupta
Taxation of the Partnership Firm: Planning & Precaution
Partnership firm is one of the most common and easy modes of starting the business jointly with other persons. However, Partnership firms...
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Mukul gupta
Aug 31, 20222 min
Re-Assessment proceedings initiated beyond the Limitation Period are not sustainable: Calcutta HC
The Calcutta High Court held that the reassessment proceedings initiated beyond the limitation period are not sustainable. The...
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Mukul gupta
Aug 31, 20222 min
Madras HC quashes Assessment Order passed without giving Proper Opportunity of Personal Hearing u/s
The Madurai Bench of Madras High Court presided by Mr. Justice M. Nirmal Kumar has quashed the assessment order passed without giving a...
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Mukul gupta
Aug 31, 20222 min
‘True Copies’ submitted before Income Tax Authorities do not have Evidentiary Value: ITAT
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the “true copies” submitted before the income tax authorities do...
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Mukul gupta
Aug 31, 20222 min
RCM on Residential Dwelling: Maharashtra Tax Practitioners seeks Clarification to avoid Unnecessary
The Maharashtra Tax Practitioner’s Association (MTPA) has requested Union finance minister Smt. Nirmala Sitharaman to clarify levy of...
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Mukul gupta
Aug 31, 20222 min
No Penalty u/s 271C when delay in Filing Appeal occurred due to Ambiguity on direction contained
No Penalty u/s 271C when delay in filing appeal occurred due to ambiguity on direction contained in statutory document, so was held by...
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Mukul gupta
Aug 31, 20221 min
MCA Amends Form No. STK-1, Notice by Registrar for Removal of names of a company from ROC
The Ministry of Company Affairs (MCA) has amended the Companies (Removal of Names of Companies from the Register of Companies) Rules,...
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Piyush Singla
Aug 8, 20222 min
Loan to Director due to Urgent need of Finance in Company, reflected in Books will not attract S.
The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the loan to the Director due to urgent need of finance in the...
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Mukul gupta
Aug 8, 20221 min
Income Tax Deduction for Expenses on Covid-19 Treatment: CBDT Notifies Conditions
The Central Board of Direct Taxes (CBDT) has notified the conditions and for availing income tax deduction for the expenses incurred on...
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Mukul gupta
Aug 8, 20222 min
TDS Credit on Accrued Income is allowable, if it was not claimed in earlier years: ITAT
The Delhi bench Income Tax Appellate Tribunal (ITAT) ruled that TDS credit on accrued income is allowable if it was not claimed in...
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Mukul gupta
Jul 18, 20222 min
ITAT imposes Cost of Rs. 5,000 for Non-Compliance of Notice received through Income Tax Business
The Cuttack bench of the Income Tax Appellate Tribunal (ITAT) has imposed a cost of Rs. 5,000 on the assessee for non-compliance of the...
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Piyush Singla
Jul 4, 20222 min
Income Tax Dept shall not Deny TDS Credit to Assessee once It is Deducted by Employer/Deductor
The Income Tax Appellate Tribunal (ITAT), Surat bench comprising Shri Pawan Singh, JM & Dr. A.L.Saini, AM has allowed a claim of TDS...
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Mukul gupta
Jul 4, 20222 min
Sale of Agricultural Land does not amount to Capital Gain: ITAT allows Tax ExemptionRead More: htt
The Kolkata Bench, of the Income Tax Appellate Tribunal (ITAT), has held that the sale of agricultural land does not amount to capital...
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Piyush Singla
Jul 2, 20222 min
Mere Disallowance of Claim u/s 54F will not attract Penalty u/s 271(1)(c): ITAT
The Income Tax Appellate Tribunal (ITAT) Ahmedabad Bench has held that mere disallowance of the claim under section 54F will not attract...
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Piyush Singla
Jul 2, 20222 min
Demand of Tax, Interest, and Penalty in Form DRC-01A without issue of Notice u/s 74(1) TNGST Act
The Madurai Bench of Madras High Court presided by Mr. Justice M. Nirmal Kumar has held that demand of tax, interest, and penalty in Form...
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Mukul gupta
Jul 2, 20222 min
Income Tax Appeal not maintainable Insolvency Resolution Proceedings initiated on a Corporate Debtor
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the income tax appeal is not maintainable once Insolvency...
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Mukul gupta
Jul 2, 20222 min
Skill Development is akin to providing Education: ITAT holds Assessee eligible for Registration
The Income Tax Appellate Tribunal (ITAT), New Delhi hold that the assessee is eligible for registration under Section 12AA by ruling that...
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Mukul gupta
Jul 2, 20222 min
DGGI Officers have Jurisdiction to Issue Show-Cause Notice in Central Excise and Service Tax Matters
The Madras High Court, while upholding the validity of the show-cause notice issued by DGGI officers held that these officers are...
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Mukul gupta
Jul 2, 20222 min
Double Penalty for Non-Linking of PAN-Aadhaar, TDS on Cryptos: Three Major Income Tax Changes
1st July 2022 was a significant day for the taxpayers as some new important changes have been made in the Income Tax Act, 1961 which may...
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Mukul gupta
Jun 25, 20222 min
TDS Credit cannot be denied due to Wrong Mentioning of PAN by Deductors: ITAT
The Kolkata bench of the Income Tax Appellate Tribunal (ITAT) has held that the TDS credit cannot be denied to the assessee due to...
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