posted: "INCOME TAX : A medallion is also classifiable as a pendant; therefore, assessee could not be denied exemption under section 10AA on ground that it had violated approval granted by Development Commissioner, Special Economic Zone for manufacturing gold pend"
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posted: "INTERNATIONAL TAXATION : Where non-resident agents had rendered their services outside India and all agents had overseas offices and they were not having any permanent establishment in India, commission paid to them was not liable to tax in IndiaINTERNATI"
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posted: "INCOME TAX : SLP granted against High Court ruling that benefit of exclusion from purview of section 194A is restricted only to those individuals and Hindu Undivided families whose total sales, gross receipts or turnover from business or profession do not"
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posted: "INCOME TAX : Income brought to tax under section 41(1) by reversal of entry with regard to stock option scheme given to employees was also in nature of 'export income' for purpose of exemption/deduction under section 10A/10BINCOME TAX : Income brought to "
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posted: "GST/EXCISE/ST/VAT : Section 386(2) of Gujarat Provincial Municipal Corporation Act,1949 provides for levy of license fees for license to place advertising hoardings in private properties and sanction of Corporation is subject to control of State Governmen"
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posted: "Section 56(2)(viib) was introduced in the Income-tax Act, 1961 ('IT Act') as an an anti-abuse provision, by the Finance Act, 2012, along with a series of other measures aimed to deter the generation and use of unaccounted money. This important section see"
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posted: "The SEBI has notified the Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2020 wherein 3rd proviso Regulation 24 has substituted which states that an AMC may also become a self-clearing member of the recognized cleari"
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posted: "INCOME TAX : Where assessee-company made investment in its wholly owned subsidiary outside India for business purpose i.e for enhancement of its business activity in global market, however, said subsidiary could not perform upto company's expectations and"
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posted: "The SEBI has notified the Securities and Exchange Board of India (Prohibition of Insider Trading) (Second Amendment) Regulations, 2020 wherein new explanation to regulation 7A has inserted which states that Information shall be considered timely, only if "
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posted: "With the continuing global spread of novel coronavirus COVID-19 ("COVID-19") and to fight against the COVID-19 pandemic the stay-at-home orders issued by various states which abruptly shuttered businesses and shook the stock exchange, driving an economic "
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posted: "INCOME TAX : Where assessee had taken a separate approval in respect of each block and thereby complied with requirement of commercial area in a project not exceeding 5 per cent of built up area, it would be entitled to deduction under section 80-IBINCOME"
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posted: "INCOME TAX : Where no unaccounted cash was found to be paid by buyer to seller in respect of sale-purchase of land and addition made on account of on-money transaction in hands of buyer and seller was also deleted, addition made in hands of assessee-broke"
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posted: "The Ministry of Finance has extended the recently announced LTC Cash voucher scheme, wherein cash allowance of LTC fare is eligible for income-tax exemption on the lines of existing tax exemption available for LTC fare, to non-Central Government employees"
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posted: "GST/EXCISE/ST/VAT : Input tax credit cannot be disallowed on ground that seller has not paid tax to Government, when purchaser is able to prove that seller has collected tax and issued invoices to purchaserGST/EXCISE/ST/VAT : Input tax credit cannot be di"
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posted: "In this article, the author argues that, in CIT v Syndicate Bank [2020] 120 taxmann.com 227 (Karn), the Karnataka High Court erred in applying the provisions of Section 244-A of the Income-tax Act, 1961, inasmuch as the provision correctly applicable is "
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posted: "In this article, the author argues that, in CIT v Syndicate Bank [2020] 120 taxmann.com 227 (Karn), the Karnataka High Court erred in applying the provisions of Section 244-A of the Income-tax Act, 1961, inasmuch as the provision correctly applicable is "
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posted: "INCOME TAX : SLP dismissed against High Court ruling that survey at residential premises of assessee could not have been converted into search and seizure without tax authorities recording that assessee had failed to co-operate or there was a suspicion th"
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posted: "Money laundering is a global problem and compromises the stability, transparency, efficiency of financial systems which results in undermining economic prosperity. As per International Monetary Fund (IMF), global money laundering is estimated between 2%-5"
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posted: "INCOME TAX : Loss sustained by assessee-company from its hundred per cent export oriented unit (EOU) which was entitled to exemption under section 10B could be set-off against profit of its other units under same head of incomeINCOME TAX : Loss sustained "
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posted: "In view of the lockdown situation due the Covid-19 pandemic, the Government had provided the relief of 3 months moratorium on term loans starting from Mar 01 to May 30 which was further extended by three months upto August 31, 2020. The relief soon turned"
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posted: "INCOME TAX : Where during assessment proceedings assessee had made full representation why according to his belief, receipt on sale of leasehold right was not chargeable to tax and High Court upheld order of Tribunal setting aside penalty order, SLP filed"
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posted: "The Ministry of Law and Justice has come up with ordinance which deals with air pollution in Delhi-NCR and adjoining area. The main objective of the Ordinance is to form a Commission for air quality management for better co-ordination, research, identific"
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posted: "INCOME TAX : Substitution of sub-section (5) of section 139 vide Finance Act, 2016 which came into force from 1-4-2017 is prospective in natureINCOME TAX : Substitution of sub-section (5) of section 139 vide Finance Act, 2016 which came into force from 1-"
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posted: "Right from AY 2013-14, when Tax Audit report was first required to be filed online, it is filed along with Income Tax return as due date for filing both Tax Audit Report and Income Tax returns were one and the same. However, Finance Act, 2020 with an obje"
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posted: "GST/EXCISE/ST/VAT : Inadvertent Mistake made by petitioner by not mentioning about penalty imposed upon them in Form SVLDRS-1 would not dis-entitle petitioner from availing benefits under Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019GST/EXCISE/ST"
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posted: "The Reserve Bank of India (RBI) has notified the Foreign Exchange Management (Margin for Derivative Contracts) Regulations, 2020 wherein provisions related to prohibition, and permission related to derivatives have been discussed in details.The Reserve Ba"
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posted: "The Finance Act, 2020 had amended the Chapter-VIII of the Finance Act, 2016 to extend the provisions of Equalisation Levy to the e-commerce supplies. Now, the CBDT has notified the Equalisation levy (Amendment) Rules, 2020 to amend the Equalisation levy R"
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