Home Highlights April 2020 Year 2020 This

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1. The assessee had been following the mercantile system of accounting, wherein book profits are taken for tax assessment, though credit or debit amounts may not be...

2. Proper authority / Jurisdiction to launch Prosecution Proceedings - It is the contention of the Revenue that the Deputy Director of Income Tax is a senior officer and...

3. Reopening of assessment - Validity of approval granted by the CIT - earlier Revision u/s 263 dropped - Notwithstanding this order passed by the Principal Commissioner of...

4. Revisional powers u/s 263 with respect to the deduction claimed u/s 36 (1) (viii) - With respect to the inclusion of interest on income tax refund considered both by the...

5. THE INCOME DECLARATION SCHEME, 2016 - Meaning of various terms defined.

6. Offence under Section 277 - Whether all the Directors of the Company can be prosecuted for any violation of the Income Tax Act in terms by relying on the inclusive...

7. Jurisdiction - Additional Director General of DRI was a proper officer or not - The Additional Director General of DRI not having, in the first instance, assessed and...

8. Disclosure of income under VDIS - set off of tax under VDIS with advance tax (including TDS) in regular course - a Section 70 and 71 mandate that the income disclosed in...

9. Seeking grant of anticipatory bail - The respondents in their reply stated that for affecting the arrest of anybody for offences punishable under Section CGST Act, 2017,...

10. The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

11. Penalty order u/s 271AAB for treating an amount included in the Return of Income as 'undisclosed income' was found unjustified. The Commissioner of Income Tax (Appeals)...

12. Levy of service tax - remuneration paid by a company to the Managing Director and the whole time Executive Director - whether such income is a salary income or otherwise...

13. Aggrieved Persons - removal of nominee director of the Corporate Debtor - powers of Directors in a ‘Compulsory Liquidation’ - There is no simmering doubt that the...

14. Interest u/s 234B - The term “assessed tax” has been defined in Explanation-1 of Section 234B (1). As per said Explanation-1 “assessed tax” means the tax on the total...

15. RELATIONSHIP BETWEEN THE PRINCIPAL AND PROFESSIONAL – TREATMENT UNDER INCOME TAX PROVISIONS