Mesne profits and interest on mesne profits awarded by Court for unauthorised occupation by tenant taxable tax u/s 23(1) ABCAUS Case Law CitationABCAUS 3419 (2020) (11) HC Important case law relied upon by the parties:CIT vs. P. Mariappa Gounder 147 ITR 676CIT vs. Smt. Leela Ghosh 205 ITR …

Change in Policy and Guidelines for setting up of Inland Container Depots (ICDs), Container Freight Stations (CFSs) and Air Freight Stations (AFSs). CBIC has issued Circular No. 50/2020-Customs which bring about a change in the policy and guidelines for setting up various Inland Container Depots, Container Freight Stations …

Use of scrips for payment of specified duties of Customs under RoSL Circular No. 49/ 2020-Customs F. No. 605/04/2019-DBK (Vol.I)(Pt. I)Government of IndiaMinistry of Finance, Department of Revenue Central Board of Indirect Taxes & Customs Drawback Division Dated the 3rd November, 2020 ToAll Principal Chief Commissioners/Chief Commissioners of …

Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10BB for Assessment Year 2016-17 and subsequent years   Circular No. 19/2020 F. No.197/135/2020-ITA-I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes   New Delhi, the …

ICAI Guidance Note on Applicability of AS 25 and Measurement of Income Tax Expense for Interim Financial Reporting ICAI Guidance Note – Applicability of AS 25 & Measurement of Income Tax Expense for Interim Financial Reporting ICAI has issued a combined Guidance Note revising its previous Guidance notes …

Accounting for Share-based Payments – ICAI Guidance Note  In an equity-settled share-based payment, the employer company offers equity shares (including share options) as consideration in lieu of services of the employees.  In India large number of entities in India are involved in share-based payment transactions.  Such payments are …