Income Tax

  • Income Tax

Non compete fee paid under deed of covenant held not taxable. Revenue can not guess commercial expediency

Non compete fee paid under deed of covenant held not taxable. Revenue has no business to second guess commercial or…

4 years ago
  • Income Tax

Sharing information of income-tax assessees for PM-KISAN Yojana Beneficiaries

CBDT notifies authority for sharing of information regarding income-tax assessees for identifying eligible beneficiaries under PM-KISAN Yojana MINISTRY OF FINANCE(Department…

4 years ago
  • Income Tax

Project office used as auxiliary office for liaison not PE unless used for core business – SC

Project office used as auxiliary office for liaison not a PE unless core business is carried on therefrom - SC…

4 years ago
  • Income Tax

Sovereign Wealth Fund u/s 10(23EF). Applications, ITR, audit report & quarterly statement to be filed

Sovereign Wealth Fund u/s 10(23EF). Applications, ITR, audit report & quarterly statement to be filed Circular No. 15 of 2020…

4 years ago
  • Income Tax

Disclosure of assessee information to Income Tax. CBDT notifies four more bodies u/s 138

Disclosure of assessee information to Income Tax Department. CBDT notifies four more bodies u/s 138 i.e. Cabinet Secretariat, IB, NCB…

4 years ago
  • Income Tax

Concealment Penalty cannot be levied on rejection of a bona-fide claim

Concealment Penalty cannot be levied on rejection of a bonafide claim. Even assessee with great expertise could make silly mistake…

4 years ago
  • Income Tax

Penalty proceedings initiated on one limb & penalty imposed on two limbs invalid

Penalty proceedings initiated on one limb and penalty imposed on two limbs invalid   ABCAUS Case Law Citation:ABCAUS 3336 (2020)…

4 years ago
  • Income Tax

Income of Tamil Nadu e-Governance Agency Exempted u/s 10(46). CBDT Notification

Income of Tamil Nadu e-Governance Agency Exempted for five years from AY 2019-20 to 2023-24 u/s 10(46) of Income Tax…

4 years ago
  • Income Tax

CBIC & CBDT sign MoU to exchange data on automatic and regular basis

CBIC & CBDT sign MoU to exchange data and information on automatic, regular basis and also on request and spontaneous…

4 years ago
  • Income Tax

CBDT Clarification on validity of notifications granting exemption from section 194N

CBDT Clarification on validity of notifications issued granting exemption under clause (v) of proviso to from section 194N prior to…

4 years ago