Daily digest for Gupta Chandan & Associates, on November 30, 2020

posted: "INCOME TAX : Where assessee-trust filed application in Form 10A under section 12AA on 11-3-2009 for granting registration and without pursuing same for 2 years filed another application on 28-6-2011 second application could not be considered as a letter i" New post on Gupta Chandan & Associates CIT was justified in granting registration from 2nd application as no steps were taken to dispose of 1st application INCOME TAX : Where assessee-trust filed application in Form 10A under section 12AA on 11-3-2009 for granting registration and without pursuing same for 2 years filed another application on 28-6-2011 second application could not be considered as a letter in continuation of earlier application; it was to be considered as a fresh application and registration […] Read more of this post November 30, 2020 at 12:00 am | Categories: Latest Case Laws, News | URL: https://wp.me/pcenIR-Ge Comment    See all comments Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/cit-was-justified-in-granting-registration-from-2nd-application-as-no-steps-were-taken-to-dispose-of-1st-application/

posted: "INCOME TAX : Where assessee, carrying on trading activities in stock and commodities, made provision for mark to market loss on trading in derivative and claimed loss as deductable business expenditure, even though loss was not finally crystallized as per" New post on Gupta Chandan & Associates Exp. attributable to exempt income to be added back for MAT computation without resorting to sec. 14A disallowances INCOME TAX : Where assessee, carrying on trading activities in stock and commodities, made provision for mark to market loss on trading in derivative and claimed loss as deductable business expenditure, even though loss was not finally crystallized as per prudent and regular system of accounting, loss had to be accounted for and, thus, same […] Read more of this post November 30, 2020 at 12:00 am | Categories: Latest Case Laws, News | URL: https://wp.me/pcenIR-Gd Comment    See all comments Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/exp-attributable-to-exempt-income-to-be-added-back-for-mat-computation-without-resorting-to-sec-14a-disallowances/