Income Tax

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Income Tax

Deduction Allowed To Co-Operative Society on Interest f...

Deduction Allowed To Co-Operative Society on Interest from Members

ITAT Ahmadabad, through its order dated 7th October 2022, in the case titled  Asstt. Commissioner of Income Tax Versus Visnagar Taluka Majoor Sahakari Ma...

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Income Tax

No Cessation Liability in Presence of Outstanding Credi...

No Cessation Liability in Presence of Outstanding Creditor’s Details

The Calcutta High Court[1], in the case titled PCIT Vs Soorajmul Nagarmull, passed a judgement holding that Cessation Liability is not valid in t...

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Income Tax

Payment of Distribution Fees is not Royalty: ITAT Banga...

Payment of Distribution Fees is not Royalty: ITAT Bangalore

ITAT Bangalore passed a remarkable judgement on 19th October 2022 in the case titled M/s. Google India Private Limited Vs The Deputy Commissioner of I...

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Income Tax

Applicability of Professional Tax Registration in Punja...

Applicability of Professional Tax Registration in Punjab

Professional tax is a state-level tax levied on professions and trades done in different states in India. The rate of professional tax may differ from one...

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Income Tax

Premium on Redemption of Convertible Debentures is Reve...

Premium on Redemption of Convertible Debentures is Revenue Expenditure

The Karnataka High Court in the case of Nitesh Housing Developers (P.) Ltd. v. Deputy Commissioner of Income-tax 2022 has allowed that the premium on redem...

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Income Tax

Proposal for Common ITR by Merging all Existing Forms...

ITR

CBDT issued a notification on 1st November 2022 requesting inputs in respect of the proposal for introducing a common ITR by merging all the existing incom...

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Income Tax

Applicability of Non Jurisdictional High Court’s Deci...

Applicability of Non Jurisdictional High Court’s Decision: ITAT Mumbai

The Income Tax Appellate Tribunal of Mumbai has recently passed an order in the case of Wockhardt Vs DCIT dated 11th  October 2022 regarding the cross...

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Income Tax

No Prosecution against the Assessee without Sanction: H...

No Prosecution against the Assessee without Sanction: HC

The High Court of Delhi pronounced a judgement in the case of Vipul Aggarwal Vs Income Tax Officer on 19th July 2022 regarding the petition for quashing th...

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