service of draft assessment order and final show cause notice
The Madras High court in (2022] 449 ITR 351 (Mad) held that the requirement of show-cause notice/draft assessment order is mandatory…
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Today's
Unwarranted additions- Need for Provision to Annex Computation of Income and Supporting Notes with ITR and Tax Audit Report ......Read More
Yesterday's 54F exemption is protected even in multiple ownership of residential properties ......Read More
Yesterday's 54F exemption is protected even in multiple ownership of residential properties ......Read More
Unregistered purchase/sale of land is a valid transaction for income tax
In the matter of grant of capital gains exemption u/54B with respect to back to back sale with purchase of…
......Read MoreSupreme Court dicta on charities need fine tuning
In the context of a charities engaged in an object of general public utility the Supreme Court in (2022] 449…
......Read MoreNo TDS on Export commission
Finally in a decision rendered by the Supreme Court in Vedanta ( Bby) and MATRIX CLOTHING PVT. LTD. (Del) case [2022] 448 ITR…
......Read MoreSFIS credit is a capital receipt
SFIS scheme provides duty credit scrips equivalent to 10 per cent. of foreign exchange earned during a year to service…
......Read MoreRetain print outs of e-proceedings response acknowledgment as a safeguard
In the faceless mechanism it is always advisable to keep print-out of e-proceedings response acknowledgment from the Department against any…
......Read MoreClaims during assessment proceedings r protected from penalty
Any claim for the loss made by way of letter during the course of assessment proceeding would not yield to…
......Read MoreDHC declined to admit Challenge to s. 148A(d) order but left a remedy to approach Statutory forums
In [2022] 20 ITR-OL 406 (Del) the Court declined to entertain the petition challenging 148A(d) order on the ground that no assessment…
......Read MorePayments for training not liable to withholding
The Tribunal in [2022] 99 ITR (Trib) 607 (ITAT[Bang]) held that training expenses remain out of the purview of definition of “fee for…
......Read MoreWhether Delhi High Court overstepping law by granting immunity from penalty etc., u/s 270AA
Section 270AA is specific to immunity from imposition of penalty and prosecution. Under ss.(1) the assessee would make application to…
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