Category: Income Tax
Technology Upgradation Fund Subsidy received was capital receipt and not taxable. Supreme Court dismisses the SLP of the Department In the instant case, the Revenue had filed SLP before the Hon’ble Supreme Court challenging the order passed by the Hon’ble High Court in confirming that amount of subsidy …
Further extension of due date of payment under Direct Tax Vivad se Vishwas Act without additional amount MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification Notification No. 94/2021 New Delhi, the 31st August, 2021 S.O. 3536(E).—In exercise of the powers conferred by section 3 of the …
Income Tax Rule 9D- Calculation of taxable interest relating to contribution in a provident fund or recognised provided fund, exceeding specified limit CBDT vide Notification No. 95/2021 dated 31.08.2021 has notified the Income-tax (25th Amendment) Rules, 2021. They shall come into force on 1st day of April, 2022. …
Addition u/s 68 for unsecured loans/share capital on account of amalgamation as per High Court order deleted as no sum was actually received ABCAUS Case Law CitationABCAUS 3545 (2021) (08) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming addition …
CBDT extends due dates for filing of various Forms due to glitches in e-filing portal Due to the difficulties/glitches reported by the taxpayers and other stakeholders in e-filing portal in filing of certain Forms, Central Board of Direct Taxes (CBDT) has issued Circular No. 16/2021 dated …
Resolve glitches in e-filing portal by 15.09.2021 – Finance Minister told Infosys. Finance Ministry had a meeting with Infosys on glitches in e-filing portal of Income Tax Department Resolve glitches in e-filing portal by 15.09.2021 – this is reported to be demanded by Finance Minister from Infosys Yesterday …
Once capital gain taxed in hands of individual member of society, same cannot be taxed again in the hands of society ABCAUS Case Law CitationABCAUS 3544 (2021) (08) ITAT Important case law relied referred:Corporation of India Ltd. – 187 ITR 688 (SC)Mohinder Kaur JoshPunjabi Coop House Building Society …
Prosecution u/s 276C(1) / 277 based on information / photocopies received under DTAA for third country non sustainable In the instant case, the Income Tax Department (Revisionist) had filed a revision petition against the impugned order passed by the Court of Additional Chief Metropolitan Magistrate (ACMM) discharging the …
Signing of ITRS and appearance by authorised representatives for assessees undergoing bankruptcy. The Income-tax (24th Amendment) Rules, 2021 Signing of ITRS and appearance by authorised representatives for assessees undergoing bankruptcy. Section 140 of the Income Tax Act 1961 prescribes who shall verify the income tax return (ITR) for …
CPC can not adjust refund in excess of 20% for disputed outstanding demand. Order u/s 245 or order u/s 220(6) do not authorise recovery in excess of 20%. ABCAUS Case Law CitationABCAUS 3542 (2021) (08) HC Important case law relied referred:Amrit Singh Ahluwalia vs. State of Punjab & …
