Home Highlights February 2019 Year 2019 This

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1. Effect of the amendment - Retrospective or prospective - It may be clarified that the expression “proceed to determine” is found in the amendment made to the KVAT Act...

2. Allowability of Education cess paid - in the Finance Bill, 2022 introduced in the Parliament an amendment to Section 40 was proposed by insertion of Explanation 3 with...

3. Period of limitation for initiating assessment - amendment with retrospective effect - it can be inferred that the amendment in Section 40 by virtue of the Amendment...

4. CSR expenditure - whether a allowable business expenditure? - explanation to Section 37(1) of the Act would not be applicable as it was with effect from the assessment...

5. The High Court considered a case involving the effect of a retrospective amendment in Section 50 of the CGST Act, 2017 by the Finance Act, 2021. The petition was...

6. Deduction claimed u/s 80G for donations qualifying as CSR expenditure was expressly disallowed u/s 37(1). The court held that even though there is no explanation for...

7. Disallowance u/s 14A read with Rule 8D - Assessing Officer did not record objective satisfaction for not accepting suo moto disallowance made by assessee. ITAT directed...

8. This case deals with the disallowance of expenditure u/s 14A of the Income Tax Act, which pertains to expenditure incurred in relation to exempt income. The key points...

9. 100% EOU - purchase of certain machinery from another 100 % EOU - Effective date of amendment - From the date of notification or from retrospective effect - The...

10. Addition u/s 43CA - difference between sale value of the flats sold and the stamp duty value of the same - The net effect of the judgment of the Supreme Court is that if...

11. Amendments made to Section 40(a)(ia) by Finance Act, 2010 - Retrospective effect or Prospective effect - The amended section 40(a)(ia) expands and further liberalises...

12. Deduction u/s. 80G - CSR - No specific tax exemptions have been extended to CSR expenditure. The Finance Act, 2014 also clarifies that expenditure on CSR does not form...

13. MCA’s Frequently Asked Questions on eligibility of CSR expenditure related to COVID-19 activities - News

14. The case concerns the retrospective nature of an amendment to u/s 32(1)(ii) by the Finance Act, 2015, relating to additional depreciation on plant or machinery. The...

15. Disallowance u/s 14A r.w.r. 8D - scope of amendment made by the Finance Act, 2022 to Section 14A - Amendment is retrospective or prospective in nature - the amendment of...