Monday, 11 October 2021

Daily digest for Gupta Chandan & Associates, on October 11, 2021

posted: "INCOME TAX : Where on basis of information from Investigation Wing that assessee had received ingenuine donations from donors, registration granted under section 12AA to trust was withdrawn and cancelled, since there was no tangible evidence to effect tha"
posted: "The Income-tax Dept. has conducted search and seizure operations across India. Search carried out in Kanchipuram, Chennai, Vellore and Hyderabad. Search conducted in Hyderabad was on a major Pharmaceutical group. It has resulted in seizure of unexplained "
posted: "INCOME TAX : Where alleged money on account of share application or share premium was received in an earlier year, same could not be taxed in current financial yearINCOME TAX : Where alleged money on account of share application or share premium was recei"
posted: "INCOME TAX : Where assessee had deposited a certain sum as security with 'T' for leave and license operations to take over operations of 'T' for a period of 24 months at an agreed monthly lease rent, however, assessee was able to carry on business only fo"
posted: "INCOME TAX : Where Tribunal held that monies advanced by company 'GIPL' to company 'PL' under an agreement was deemed dividend in hands of assessee who was shareholder in both of these companies and assessee contended that said loan was given by 'GIPL' fo"
posted: "The SEBI has issued Directions to NCDEX debarring it from launching new mustard seeds contracts till further orders with a view to curb rising prices of mustard oil. In respect of running contracts, no new position will be allowed to be taken. Only squari"
posted: "The RBI clarified that facility of bank lending to NBFCs (other than MFIs) for on-lending to be classified as Priority Sector Lending up to September 30, 2021. The facility has been extended till March 31, 2022 keeping in view the increased traction obser"
posted: "INCOME TAX : Where Assessing Officer passed impugned assessment order without affording an opportunity of personal hearing to assessee as Delhi was under lockdown due to second wave of Covid-19 Pandemic between date of notices and date by which replies ha"

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Daily digest for Gupta Chandan & Associates, on February 23, 2026

Income Tax Forms as applicable from 1st April 2026. Old forms under income tax Act 1961 added for better search....