Professional Update for the Day: DIRECT TAX: Income Tax: CBDT has issued a standard operating procedure for handling AIR transactions without valid PAN videF.No.225/193/2016/ITA.1I dated 22nd July 2016. Income tax… Read More
Professional Update for the Day: DIRECT TAX: Income Tax: CBDT launches paperless PAN & TAN application process vide Press release dated on 22nd July 2016.Under the new process PAN/TAN to be… Read More
Professional Update for the Day: DIRECT TAX: Income Tax: Leasehold rights in a land not eligible for an allowance of depreciation Cyber Park Development & Construction Ltd. v. Deputy Commissioner… Read More
Professional Update for the Day: DIRECT TAX: Income Tax: ITAT Ahemdabad confirmed the addition of unexplained investments in purchase of agricultural land u/s 69 as the co-purchaser admittedly is not entitled to… Read More
Professional Update for the Day: DIRECTTAX: Income Tax: Interest paid by contractor to finance its business wasn't includible in cost of inventory; No understatement of WIP Deputy Commissioner of Income-tax,… Read More
Professional Update for the Day: DIRECT TAX: Income Tax: CBDT has notified the transfer pricing- computation of arm's length price. It notified percentage under third proviso to section 92C vide… Read More
Professional Update For the Day: DIRECT TAX: Income Tax : No denial of Sec. 54F relief if taxpayer is unable to get possession of flat due to builder's fault Rajeev… Read More
Professional Update For the Day: DIRECT TAX: Income Tax : Penalty levied for excess claim of unabsorbed depreciation u/s 115JB; ITAT denies theory of carry backward of losses SBI DFHI… Read More
Professional Update For the Day: DIRECT TAX: Income Tax : No penalty on firm when it agreed to treat partner's contribution as its income to buy peace Choupal Plywood v.… Read More
Professional Update For the Day: DIRECT TAX: Income Tax : Where assessee trust was carrying on microfinance business in a commercial manner so as to earn profit and there was… Read More