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Tag : #income-tax

Income TaxLatest

CBDT issues clarification regarding carry forward of losses in case of change in shareholding due to strategic disinvestment

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by Team Taxcharcha0451
Central Board of Direct Taxes (CBDT) has issued the clarification regarding carry forward of losses in case of changes in shareholding due to strategic disinvestment....
GSTLatest

Anyalysis of Recommendations of 43rd GST Council Meeting

Team Taxcharcha
by Team Taxcharcha0434
Amnesty scheme to provide relief to taxpayers regarding late fee for pending returns For furnishing the Form GSTR 3b for the period July 2017 to...
Income TaxLatestRecent Case Laws

Mentioning of wrong section and wrong facts in the reasons recorded for reopening of the assessment u/s 148 made the reassessment liable to be quashed – ITAT Delhi

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by Team Taxcharcha02264
Maheshwari Roller Flour Mills Pvt. Ltd. vs. ITO ITA No. 4257/Del/2019 Pronounced on 17.12.2020 In the recent judgment by the Hon’ble ITAT Delhi, it was...
Income TaxRecent Case Laws

Where the Petitioner fails to acknowledge the complete details during the search procedure of “Primary Persons”, the same can be the basis for “reason to suspect” for issuance of new WOA for carrying on the Search on Petitioner – Delhi High Court

Team Taxcharcha
by Team Taxcharcha0492
Shilpa Chowdhary vs. Principal Director of Income Tax (Investigation) W.P.(C) 5207/2020 & CM Appl 18787/2020 dated 07.12.2020 In short In a recent judgment by the...
Income TaxLatest

Finance Ministry issues Taxation and other Laws (Relaxation of Certain Provisions) Ordinance, 2020 today

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by Team Taxcharcha0386
In order to give effect to the announcements made by the Union Finance Minister vide Press Release dated 24.03.2020, regarding several relief measures relating to statutory and...
CGST Rate NotificationGSTGSTLatestTax Notifications

Notification No. 02/2020-Central Tax – Rate on maintenance, repair and overhaul (MRO) services in respect of aircraft from 18% to 5% with full ITC

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by Team Taxcharcha0747
[docxpresso file=”https://taxcharcha.com/wp-content/uploads/2020/03/NN-02-2020-CT-Rate.odt” comments=”true” SVG=”true”] To download the Notification, click here NN 02-2020-CT-Rate...
Income TaxLatestRecent Case Laws

the provisions of Sec.2(22)(e) were not applicable since the payment was mere reimbursement of expenditure by M/s PHL – ITAT Mumbai

Team Taxcharcha
by Team Taxcharcha0611
The provisions of Sec.2(22)(e) were not applicable since the payment was mere reimbursement of expenditure by M/s PHL. However, Ld. CIT(A) proceeded on wrong footing...
Income TaxLatestRecent Case Laws

Service of notice upon a dead person under section 142(1) would not authorise him to assume jurisdiction to pass assessment order on the Legal Representatives – ITAT Ahemdabad

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by Team Taxcharcha01941
It is found that before service of notice under section 142(1), assessee had already expired. His legal heirs did not file return for this assessment...
Income TaxIncome TaxLatestRecent Case Laws

Where the assessee provided all the confirmation of the creditors at the CIT(A) level, the orders of the lower authorities set aside and send back for reconsideration – ITAT Delhi

Team Taxcharcha
by Team Taxcharcha0969
During the assessment proceedings, the Assessee fails to provide confirmation of 04 creditors and the AO added the whole amount of creditors to its income....