Tax Guru4h
Section 254 Allows ITAT to Entertain New Claims, But Power Must Be Exercised During Hearings: SC
The ITAT while dealing with the situation directed the AO to allow the claim of deferred revenue expenditure even though the ...
Tax Guru4h
Disallowance u/s. 14A without recording proper satisfaction untenable: ITAT Cochin
ITAT Cochin held that disallowance under section 14A read with rule 8D of the Income Tax Rules in a mechanical manner without recording proper satisfaction is unsustainable in law. Accordingly, ...
Tax Guru5h
Analyzing India’s High Direct Tax Rate and Low Yield
Analyzing the various factors that contribute to the low yield of direct taxes in India despite high tax rates. These factors ...
Tax Guru5h
No LTCL from off market sale could be offset against capital gains if it was a colourable device to evade tax
Conclusion: Long term capital loss (‘LTCL’) from off market sale of listed securities could not be offset against current and future capital gains, if it did not fall under the ambit of legitimate tax ...
Tax Guru5h
Revisionary proceedings u/s. 263 resulting into second opinion/ view of PCIT impermissible: ITAT Ahmedabad
ITAT Ahmedabad held that invocation of provisions of section 263 of the Income Tax Act by PCIT impermissible as exercise of such provisions amounts to second opinion/ view which is unsustainable in ...
Tax Guru5h
Digital Taxation & Tax Compliance: Challenges and Embracing Technology
The challenges of digital taxation are not limited to jurisdictional issues. Determining the value of digital goods and services, such as data and user participation, adds complexity to the taxation ...
Tax Guru5h
Pending Criminal Case Doesn’t Bar Long-Term Opportunities: Delhi HC
In conclusion, it is made amply clear by the Delhi High Court in this noteworthy judgment that mere pendency of criminal case does not automatically disqualify individual from exercising the right to ...
Tax Guru12h
RBI draft circular on Forms of Business and Prudential Investment Regulation
RBI releases draft circular on Forms of Business and Prudential Regulation for Investments The Reserve Bank of India today released the draft circular on ‘ Forms of Business and Prudential Regulation ...
Tax Guru1d
IBBI not obligated to provide RTI information beyond its direct control
1. The Appellant has filed the present Appeal dated 27 th August 2024, challenging the communication of the Respondent dated 23 rd August 2024 in his RTI application no. ISBBI/R/E/24/00138. As this ...
Tax Guru1d
Request to Amend Discriminatory Probate Law for Hindus, Buddhists, Sikhs & Jains
Sub: Cancellation of or suitable amendment in Sections 57 and 213 of the Indian Succession Act, 1925, which makes mandatory to obtain Probate only to Hindus, Buddhists, Sikhs and Jains residing in ...
Tax Guru1d
RTI Act doesn’t mandate public authorities to provide opinions on Reliance Big FM’s acquisition
On October 3, 2024, the Insolvency and Bankruptcy Board of India dismissed an appeal by Unni Gorla regarding an RTI application submitted on August 24, 2024. The appeal challenged the Central Public ...
Tax Guru1d
Business Activities by GPU Trust/NGOS Post Supreme Court Judgment
This article intends to deal with business activity by Trusts, NGOS and other organization more particularly engaged in ...