Income Tax
Prem Prakash Gupta v. ITO – ITAT Jaipur Ruling on Turnover Definition for Stamp Vendors
Introduction
The concept of turnover under the Income-tax Act often appears straightforward, until it is applied to agency-based businesses. For licensed stamp vendors, where sales...
Income Tax
AI Hallucination in Court: ITAT Recalls Order Over Fake ChatGPT-Generated Case Laws in Buckeye Trust Tax Dispute
A recent tax tribunal order, hastily withdrawn after citing non-existent court judgments, has sparked concerns over the possible use of generative AI—a groundbreaking technology...
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News & Events
CBDT extends various due dates to provide relief to taxpayers in view of COVID – 19: [Circular No. 9 of 2021 in F. No....
In view of the adverse circumstances arising due to the severe Covid-19 pandemic, the CBDT in exercise of its power under section 119 of...
Company Law and IBC
Relaxation granted by MCA due to second wave of Covid-19
Circular-1: Maximum Gap between two Board Meetings under section 173 of the Companies Act, 2013.
MCA has extended a gap between the two board meetings by...
Case Laws
No addition can be made in respect of completed assessments if no incriminating material is found during the course of search.
The DCIT Vs. M/s.Creative Trendz Pvt. Ltd.
Facts of the case
The assessee is a company engaged in the business of embroidery of...
Finance
Lease Financing Model: Lease Financing as a Viable Business Option
Ever heard of businessmen exploring the idea of using an asset on a rental basis on account of a shortage of finance to buy...
Income Tax
File Form 10A in 5 Easy steps
Are you an applicant registered under Section 12A and 80G or Section 12AA? (i.e Trust/Societies/Hospitals, etc.). Then you need to obtain fresh registration in...
Income Tax
Solve your Income Tax puzzle with Us!
Have you received any income tax notice so far? Are you the lucky one? or the unlucky one! If yes, next 5 minutes is...
News & Events
CBDT extends various compliance dates due to Covid-19 Second Wave
In
view of the adverse circumstances arising due to the severe Covid-19 pandemic
and also in view of the several requests received from taxpayers, tax consultants
&...
Income Tax
New Penalty provision under section 270A |A blessing in disguise?
Penalty on Concealment of particulars of income or furnishing inaccurate particulars of income has always been a matter of litigation between the department and...
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