Direct Tax: Bombay HC sets aside CCIT’s order rejecting assessee-society’s (running a hospital providing medical facilities at subsidized rates) application for grant/continuation of exemption u/s 10(23C)(vic) for AY 2009-10; [TS-641-HC-2017(BOM)] CESTAT… Read More
RESIDENTIAL STATUS UNDER INCOME TAX ACT Tax incidence on an assessee depends on his residential status. For instance, whether an income, accrued to an individual outside India, is taxable in… Read More
Direct Tax: ITAT Delhi held that Section 54/54F flat booked with builder can be considered as construction of flat. ACIT Vs. Sh. Vineet Kumar Kapila (ITAT Delhi) Kolkata ITAT deletes… Read More
Money laundering is the process by which large amounts of illegally obtained is given the appearance of having originated from a legitimate source. So basically, all the ways to convert the black… Read More
Direct Tax: Uttarakhand HC allows Revenue’s appeal, denies Sec. 10B benefit to assessee (engaged in manufacture of handicrafts) for AY 2009-10; Notes that assessee claimed deduction u/s. 80HHC from AYs 1992-93… Read More
E-way bill is an electronic way bill for movement of goods which can be generated on GSTN portal. E-way bill contains the details of transported goods besides the name of… Read More
In its 26th meeting, Arun Jaitley-chaired GST Council (Goods & Services Tax) extended the existing system of filing returns (GSTR-3B and GSTR 1) by another three months till June and… Read More
Direct Tax: Kolkata ITAT deletes penalty levied u/s 271E (for violating conditions u/s 269T by repaying loan other than through banking channels) for conversion of loan into equity by assessee-company… Read More
The Union Cabinet on Wednesday approved the Arbitration and Conciliation (Amendment) Bill, which seeks to establish an independent body to make arbitration process user-friendly, cost-effective and ensure speedy disposal and… Read More
Corporate and Professional updates 9th march 2018 Direct Tax: Kolkata ITAT holds that sale of shares by Emami Infrastructure Ltd. (‘assessee’) to its second step down 100% subsidiary, not transfer… Read More