Income Tax

  • Income Tax

TDS deposited before filing ITR allowable u/s 43B despite following cash method of accounting

TDS deposited before filing ITR is allowable u/s 43B despite assessee following cash method of accounting ABCAUS Case Law Citation:ABCAUS…

4 years ago
  • Income Tax

Car depreciation & insurance allowable irrespective of personal use by assessee

Car depreciation & insurance allowable irrespective of any personal use by the assessee ABCAUS Case Law Citation:ABCAUS 3248 (2020) (02)…

4 years ago
  • Income Tax

Unutilised MODVAT credit of Excise Duty not allowable u/s 43B – Supreme Court

Unutilised MODVAT credit of Excise Duty not allowable u/s 43B. Paying cost of raw materials does not mean that assessee is liable to pay Excise Duty on…

4 years ago
  • Income Tax

Penalty u/s 271B deleted as Accounts not finalised due to TDS credit mismatch / resignation of accountant

Penalty u/s 271B deleted. Books of Accounts not finalised due to TDS credit mismatch despite assessee made sincere attempts for…

4 years ago
  • Income Tax

Depreciation allowable u/s 11(6) when cost of fixed assets not claimed application of income

Depreciation allowable u/s 11(6) when assessee has not claimed cost of fixed assets as application of income in any previous…

4 years ago
  • Income Tax

CIT(A) reduced income on appeal which showed non application of mind by AO in recording reasons

CIT(A) reduced income on appeal which clearly showed non application of mind by AO while recording the reasons, which made…

4 years ago
  • Income Tax

IT search on prominent persons in Tamil Nadu Film Industry in connection with movie Bigil

Income Tax search on prominent persons in Film Industry in Tamil Nadu including Actor Vijay, financier and production house in…

4 years ago
  • Income Tax

Applicability of TDS provisions on Mutual Fund dividend. CBDT issues clarification 

Applicability of TDS provisions on Mutual Fund dividend. No deduction on income in the nature of capital gains-CBDT issues clarification …

4 years ago
  • Income Tax

When all cash credits treated as turnover, capital introduced be also treated out of it- ITAT

When all cash credits treated as turnover, capital introduction in cash and machinery purchased should also be considered out of…

4 years ago
  • Income Tax

Rent of land not appurtenant to building taxable as income from other sources

Rent of land not appurtenant to building is taxable as income from other sources. Rent only from buildings and land…

4 years ago