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Income surrendered in relation to hospital building construction by doctor was not unexplained investment u/s 69 liable to higher tax u/s 115BBE – ITAT In a recent judgment ITAT has held that the surrender of income by a practicing doctor towards understatement of hospital construction expenses can not …
Minimum hotel room occupancy guarantee payments by OYO not liable to TDS u/s 194C – ITAT In a recent judgment ITAT has held that minimum hotel room occupancy guarantee payments by OYO rooms was not liable to TDS u/s 194C as payment to contractor ABCAUS Case Law Citation:ABCAUS …
It is quite reasonable and logical for a married daughter to keep her jewellery with her mother. ITAT deleted addition u/s 69 for jewellery found in locker In a recent judgment ITAT has deleted the addition of jewellery found in locker holding that it is quite reasonable and …
Registrar, Central Processing Center to examine e-forms, applications or documents filed with MCA Portal The Registrar of the Central Processing Center has been empowered to examine e-forms, applications or documents filed with MCA Portal in terms insertion of a new “Rule 10A – Central Processing Center” in the …
No Penalty u/s 271B for non Tax Audit when AO treated capital gain transaction as business income In a recent judgment, ITAT has deleted penalty u/s 271B for failure to get accounts audited u/s 44Ab of the Income Tax Act, 1961 (the Act) where Assessing Officer (AO) has …
Revised Secretarial Standards on Meetings of the Board of Directors (SS-1) and General Meetings (SS-2) were made applicable from 1st July, 2015 and revised version thereof were made applicable from 1st October, 2017 (“Existing version”). However, considering the legal amendments on the subject, SS-1 and SS-2 were subsequently …
ICAI revised Implementation Guide on reporting Audit Trail ICAI has issued an Implementation Guide on reporting Audit Trail under Rule 11(g) of the Companies (Audit & Auditors) Rules 2014 Revised Edition 2024 The Ministry of Corporate Affairs vide notification dated March 24, 2021 issued the Companies (Audit and …
Employee of IRCTC entitled to full exemption of leave encashment u/s 10(10AA)(i) being employed with Central Government company. In a recent judgment, ITAT has held that an employee employed with IRCTC Limited is entitled to 100 percent exemption of leave encashment u/s 10(10AA)(i) being employed with Central Government …
Exemption u/s 54EC allowed as delay in investment in REC Bonds was due to father of the assessee in ICU In a recent judgment, ITAT as allowed the benefits of investment made in REC Bonds u/s 54EC where delay was caused due to father of assessee was in …
Non-response by payee to statutory notice u/s 133(6) directly issued by AO, is not within reach and control of assessee – ITAT In a recent judgment, ITAT has held that non-response by a payee to statutory notice u/s 133(6) directly issued by AO, is not within reach and …
