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Assessee cannot be saddled with tax liability if tax deducted on his income wasn’t deposited by the deductor

CA Bimal Jain July 28 2021 @ 12:28 PM

Assessee cannot be saddled with tax liability if tax deducted on his income wasn’t deposited by the deductor In Ashok Kumar B. Chowatia v....

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Professional and consultancy charges incurred during acquisition of companies cannot be treated as revenue expenses

CA Bimal Jain July 26 2021 @ 5:01 PM

Professional and consultancy charges incurred during acquisition of companies cannot be treated as revenue expenses In M/s. Steer Engineerin...

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Charitable Society providing hostel facilities to staff and students is integral part of Educational Activities

CA Bimal Jain July 26 2021 @ 4:50 PM

Charitable Society providing hostel facilities to staff and students is integral part of ‘Educational Activities’, exemption allowed In ...

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Allowed set off of MAT Credit inclusive of Surcharge, Education Cess

CA Bimal Jain July 26 2021 @ 4:26 PM

Allowed set off of MAT Credit inclusive of Surcharge, Education Cess In M/s. Tata Motors Ltd. v. DCIT(LTU)-2 [ITA No. 2397/Mum/2019 decided ...

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No penalty leviable unless the conduct of the assessee is found to be contumacious

CA Bimal Jain July 22 2021 @ 7:38 PM

No penalty leviable unless the conduct of the assessee is found to be contumacious In M/s. Aanya Real Estate Pvt. Ltd. v. Deputy CIT [IT A N...

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Delegation of certain formalities to another entity would not disentitle developer from the deductions under IT Act

CA Bimal Jain July 22 2021 @ 7:22 PM

Delegation of certain formalities to another entity would not disentitle developer from the deductions under IT Act In DCIT v. Sahara India ...

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Interest on late payment of service tax is compensatory in nature and shall be treated as a permissible deduction

CA Bimal Jain July 20 2021 @ 11:26 PM

Interest on late payment of service tax is compensatory in nature and shall be treated as a permissible deduction The Hon’ble ITAT, New De...

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Calcutta HC stays provisions of TDS as per Section 194N till 30th September 2021

Studycafe July 10 2021 @ 12:35 PM

Calcutta HC stays provisions of TDS as per Section 194N till 30th September 2021 A Writ Petition was filed with Calcutta High Court, challen...

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Additions cannot be done by AO on the basis of information available in Form 26AS

CA Bimal Jain July 3 2021 @ 2:32 PM

Additions cannot be done by AO on the basis of information available in Form 26AS The Hon’ble ITAT, Kolkata in the case of ITO v. M/S Star...

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Reopening Case u/s 148 where AO Failed to record the reasons & disclose material facts relevant for assessment

AJAY KUMAR AGRAWAL June 16 2021 @ 2:27 PM

Reopening Case u/s 148 where AO Failed to record the reasons & disclose material facts relevant for assessment Reopening Case under Sect...

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