Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
“It is saddening to note that tax evasion has been mushrooming in our State / Country day-by-day, which is purely illegal, and such evasion includes hiding true income and portrayal of false income, not reporting cash flow, etc” In a recent decision, a Division Bench of the Madras High Court expressed its sadness about the […]
In the present geopolitically unstable times, India is projected to become even more appealing as an investment location with the Union Budget 2023-24 announcements on February 1. The development of the information technology industry will probably play a significant role in achieving this objective. In 2023, information technology investment in India is expected to increase […]
The ITAT Delhi Bench stated that the department does not permit travel apart from the issues engaged in limited scrutiny cases. The two-member bench of Pradip Kumar Kedia (Accountant Member) and N.K. Choudhary (Judicial Member) has seen the taxpayer was chosen for limited scrutiny along with the sum in hand shall not derive from the […]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that there shall be no tax implications on the profits of the businesses which is earned on the basis of the reinsurance business in the lack of the fixed place permanent establishment (PE) in India. The two-member bench, Pramod Kumar (Vice President) and Anikesh […]
Usually, companies take the risk of losing the tax credits (TDS and TCS) because of a lack of regular reconciliation between books of accounts and government records Form 26AS. The year-on-year TDS credit lock-up directed to inefficiencies in the working capital which would be the major subject to think about for CFOs and tax heads […]
The Kolkata Bench of the ITAT has refused the revisionary order that the Income Tax Authority is passing without quoting Document Identification No. (DIN) in the mentioned order, as required by the CBDT Circular No.19/2019, on 14.08.2019. The Bench, consisting of Mr Sanjay Garg (Judicial Member) and Mr Girish Agrawal (Accountant Member), ruled that since […]
The Income Tax Appellate Tribunal (ITAT), Ahmedabad Bench, ruled that rural agricultural land taken via Government for business activity u/s 2 (13) is qualified for Exemption. The taxpayer, Shri Jitendra Shanabhai Patel secures his income from the salary, capital gain, and income from additional sources. The taxpayer would pay the income tax return showing the […]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) which consists of Shri Saktijit Dey, Judicial Member Shri Pradip Kumar Kedia, Accountant Member has allowed TDS credit to the assessee in the assessment year when the credit accrued subject to conditions that the assessee had not claimed the same in the past years and […]
The Calcutta High Court ruled that the GST department would not seize the vehicle in the absence of a second e-way bill since the first GST e-way bill was valid in the period of interception. A bench of Justice T. S. Sivagnanam and Justice Hiranmay Bhattacharyya was acknowledging an appeal by the department questioning the […]
