Explained: Explanation 3C of Section 43B of Income Tax Act, 1961 clarificatory or adds a new condition?
Supreme Court: The division bench of RF Nariman* and BR Gavai, JJ has explained the object and scope of Explanation 3C of
Income Tax Act
Del HC | Issuance of prior show cause notice and draft assessment order under S. 144B (7) of Income Tax Act: Is it a mandatory condition before issuing final assessment order? HC answers
Delhi High Court: The Division Bench of Manmohan and Navin Chawla, JJ., noted the mandatory condition provided under Section 144B (7) of
ITAT | Whether DTAA protection in respect of taxation of dividend in source jurisdiction, can be extended to ‘dividend distribution tax’ under S. 115-O, Income Tax Act, in the hands of a domestic company? Matter referred to larger Bench
Income Tax Appellate Tribunal (ITAT): A two-Member Bench of Pramod Kumar, Vice President and Amarjit Singh, Judicial Member, referred a seminal question
Can’t treat unequals equally; No automatic vacation of stay under Section 254(2A) Proviso 3 of the Income Tax Act, 1961 if the assessee is not responsible for the delay: Supreme Court
Supreme Court: Dealing with an important question as to the constitutional validity of the third proviso to Section 254(2A) of the Income
Madras HC refuses to decide vires of Section 40(a)(iib) of the Income Tax Act pending assessment proceedings. SC disapproves the approach
“Vires of a relevant provision goes to the root of the matter.”
Right to Privacy vis-à-vis Tax Information
by Chirag Singla*
Taxation & Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 | Faceless jurisdiction of income-tax authorities [Key Features]
President gave assent to the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 on 29-09-2020. The Taxation and
Bangalore Club not liable to pay wealth tax; SC explains when Section 21AA of Wealth Tax Act applies
Supreme Court: Holding that Bangalore Club is not liable to pay wealth tax under the Wealth Tax Act, 1957, the3-judge bench of
CBDT provides ITR Filing Compliance Check Functionality for Scheduled Commercial Banks
Central Board of Direct Taxes in exercise of powers conferred under Section 138(1)(a) of Income Tax Act, 1961, has issued Order inF.No.
Kar HC | Deductions falling under S. 10-B of Income Tax Act cannot be computed without setting off brought forward business losses and unabsorbed depreciation
Karnataka High Court: A Division Bench of Alok Aradhe and H.T. Narendra Prasad, JJ. set aside the decision of the Income Tax
NCLAT rejects Corporate Creditor’s demand of payment of outstanding operational debt worth Rs 58 crores, after finding ‘plausible contention’ in debtor’s arguments
National Company Law Appellate Tribunal, New Delhi: The 3-Member Bench of Justice Bansi Lal Bhat (Acting Chairperson), V.P. Singh, Member (Technical) and
Disallowance under Section 40(a)(ia) of IT Act whether confined to the amount “payable” and not to the amount “already paid”?SC explains
Supreme Court: Dealing with the question as to whether disallowance under Section 40(a)(ia) of the Income Tax Act, 1961 is confined/limited to
MHA sets up inter-Ministerial panel to probe alleged violations by Rajiv Gandhi Foundation, Rajiv Gandhi Charitable Trust and Indira Gandhi Memorial Trust
As reported by media, Ministry of Home Affairs sets up an Inter-Ministerial panel set up to probe violations by Rajiv Gandhi Foundation,
ITAT | Bar Council of Delhi’s dominant purpose is advancement of general public utility: Held entitled for registration under S. 12-AA and consequent exemption under S. 80-G, Income Tax Act
Income Tax Appellate Tribunal (ITAT): A Division Bench of R.K. Panda (Accountant Member) and Kuldip Singh (Judicial Member), while addressing a matter held,
Extension of various time limits under Direct Tax & Benami laws
In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliance requirements across sectors due to the outbreak
New procedure for registration, approval, etc. of certain entities deferred to 1st October, 2020
In view of the unprecedented humanitarian and economic crisis, the CBDT has decided that the implementation of new procedure for approval/ registration/notification
PAN-Aadhaar Linking | PAN if not linked with Aadhaar by 31-03-2020 will become inoperative
As reported by Hindu, The deadline for linking PAN Card with Aadhaar Card has been extended several times by the Income Tax Department
Public consultation on proposal for amendment of Income-tax Rules 1962, to insert new Rule 29BA and Form 15E, to give effect to the amendment in S. 195 of Income-tax Act, 1961
Section 195 of the Act relates to levy of tax deduction at source (TOS) on any sum chargeable to tax and which