Corporate and Professional updates 7th March 2018 Direct Tax: Under section 57(iii) of the Act, only those expenditure are to be allowed which are related to earning of income from… Read More
Corporate and Professional updates 6th March 2018 Direct Tax: ITAT upholds Revenue's plea that assessee (a private limited company & engaged in real estate business) received high share premium as a… Read More
Quick review on Insolvency and Bankruptcy code The meaning of Insolvency and Bankruptcy is not the same. “Insolvency” means the situation where an entity (the debtor) cannot raise enough… Read More
CORPORATE AND PROFESSIONAL UPDATES 5Th MARCH 2018 Direct tax CBDT has decided to give a last chance to persons who have not filed income tax returns for the last two… Read More
Direct Tax: 10(23C) is independent of sec. 11; relief to trust available even if sec. 10(23C) conditions not complied with- Charging of fees is a part of receipt during course of… Read More
Direct Tax: 153A proceedings not restricted to those materials which were already available with dept. before search -Where pursuant to search and enquiry unaccounted consideration from purchaser had been unearthed,… Read More
Direct Tax: Mumbai ITAT allows set off of brought forward house property losses of AY 2009-10 and 2010-11 against income of relevant AY 2012-13 to assessee, holds Sec. 79 provisions… Read More
Direct Tax: Gujarat HC upholds ITAT order, confirms unexplained cash credit addition u/s 68 in case of assessee (an individual), with respect to receipt of unsecured loan despite confirmation from lender; [TS-71-HC-2018(GUJ)] Pune ITAT deletes… Read More
CORPORATE AND PROFESSIONAL UPDATES 24TH FEB 2018 Profit from sale of land after dividing it into small plots not to be considered as business income-Where assessee sold its land held… Read More
SIDBI Assistance to MSMEs for Recovery & Organic Growth during COVID 19 pandemic @ 5.50% - 6% p.a- AROG- SCHEME Target Customer / Purpose MSME is involved in the production or… Read More