How can it be different ruling for same provision/benefits available?
SC – Pr. CIT v. Wipro Ltd. [2022] 140 taxmann.com 223 – carry forward of…
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WEEKLY UPDATES
1. Companies are set to get alerts and showcause notices from the Registrar of Companies…
STAY of DEMAND at different Authorities
1. APPEAL TO CIT – 20% prescribed through office memorandum F.No. 404/72/93-ITCC dated 31/07/2017. 2.…
WEEKLY TAX NEWS/UPDATE
1. Income Tax Window is now open to file Income Tax return for FY 2019-20…
ITAT – DCIT v. Railtel Corporation of India Ltd.(Delhi – Trib.)
ITAT – DCIT v. Railtel Corporation of India Ltd. [2022] 140 taxmann.com 132 (Delhi –…
Condition for Exemption : whether Mandatory Vs Directory
Taxpayer is entitled for exemption if conditions are fulfilled Conditions can be mandatory or directory,…
Unpopular Deductions Under Income Tax
– Repayment of the principal amount of a home loan: An individual is entitled to…
10 Pointers to Understand Capital Gain Tax on Reconstitution of Partnership Firm
1. Transfer of capital asset or stock on dissolution/reconstitution will be consider as transfer for…
Functioning of Local Committees to Deal with Taxpayers Grievances from High-Pitched Scrutiny Assessment
Recently, in the INSTRUCTION F. NO. 225/101/2021-ITA-II, DATED 23-4-2022, The CBDT provided for constitution of ‘Local Committees…
Beware from Taxman while taking an unsecured loan
Article titled “Beware from Taxman while taking an unsecured loan.” got selected for Publication on Taxguru The article…
No Penalty for non-disclosure of foreign Asset in Indian Return
No penalty u/s 43 of BM Act can be imposed for non-disclosure of foreign…
Highlights of Revisionary Powers of Commissioner u/s 263
CIT can exercise his/her revisionary powers u/s 263 only if 1. The order of the…