Extension of due date of furnishing of Income Tax Returns and Audit Reports
In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the
taxation
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
Advance tax ruling system| Detailed report on what the Supreme Court said
Supreme Court: The bench of SK Kaul and Indu Malhotra, JJ has recommended the Central Government to consider the efficacy of the
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
Medical Oxygen IP and Nitrous Oxide IP are ‘drugs’ as per Section 3(b)(i) of the the Drugs and Cosmetics Act 1940
Supreme Court: The bench of Dr. DY Chandrachud and Ajay Rastogi, JJ has held that Medical Oxygen IP and Nitrous Oxide IP
PMLA | Search, seizure and retention of property pertaining to offence of money laundering requires compliance with provisions of PMLA, 2002
Appellate Tribunal for SAFEMA, FEMA, PMLA, NDPS & PBPT Act: A Coram of Manmohan Singh (Chairman), J. and G.C. Mishra (Member) set
SC explains meaning of “total turnover” under the Karnataka Sales Tax Act
Supreme Court: While examining the applicability of the turnover tax as defined under Section 6 B(1) of the Karnataka Sales Tax Act, 1957, the bench of AM Khanwilkar and Ajay Rastogi, JJ held: “the expression ‘total turnover’ which
SC elaborates on the scheme of determining additional purchase price under Clause 5A under Sugarcane Control Order, 1966
Supreme Court: On the question relating to assessment of the taxable income of a Co-operative Society engaged in the business of production
Motilal Pesticides overruled as it missed the difference in the terms ‘Income’ and ‘Gross Total Income’
Supreme Court: The 3-judge bench of Dr. AK Sikri, SA Nazeer and MR Shah, JJ decided an issue relating to interpretation of
Remembering S.P. Sathe: 13th National Conference on Taxation Laws
Reported by Saranya Mishra
Remembering S.P. Sathe: The 13th National Moot Court Competition, 2018-19
Reported by Saranya Mishra
No tax on Equity Share Transfers made before 31-03-2018: FAQs released on Taxation of Long Term Capital Gains proposed in Finance Bill, 2018 [Read FAQs]
The existing regime has led to significant erosion in tax base resulting in revenue loss and the problem has been further compounded
Supreme Court to decide whether NOIDA is a corporation established by the Uttar Pradesh Government
Supreme Court: The bench of R.K. Agrawal and A.M. Sapre, JJ agreed to examine a plea of the income tax department whether
Formula One liable to taxation for the business conducted though it’s permanent establishment i.e. Buddh International Circuit
Supreme Court: Holding that Formula One World Championship Limited (FOWC) is liable to taxation for organising the Formula One Grand Prix of
Legislative intent behind R. 3(2)(c) first proviso of the Karnataka Value Added Tax Rules, 2005 is to sustain realistically the benefit of trade discount
Supreme Court: In the matter where the first proviso to Rule 3(2)(c) of the Karnataka Value Added Tax Rules, 2005 was being
9-judge bench upholds the validity of entry tax imposed on goods imported from other States
Supreme Court: Writing down a long judgment of 883 pages, the 9-judge bench, by a 7:2 majority, upheld the validity of the