Scope of deduction under section 37(1)
AO is in no position to outrightly decide whether or not an expenditure has been incurred for business purpose until and unless he places himself in the shoes of the business owner/ professional.
Bharti Airtel Case-Denial of GST Refund
The excess payment made in place of making use of the ITC was the result of the department’s fault for not having operationalized the Forms GSTR-2, GSTR-2A, and GSTR-3. Thus, the HC concluded that Bharti Airtel should not be made to suffer.
Can Assessee Be Assessed As An Hindu Undivided Family Even After Partition Thereof?
The deciding factor is whether the assesssee has been assessed as an HUF in the past.
Clarification Pertaining To Section 36(1)(xvii)
CBDT has issued clarification in pursuance of instances of additional payments being made as income distribution to farmers by cooperative sugar mills for purchase of sugarcane.
MCA General Circular For Extension of Due Date for Form 8
Form 8 happens to be a Statement of Account and Solvency prescribed for LLP which is supposed to be filed every year.
Taxing provisions – Opting from different interpretations
If two reasonable constructions of a taxing provision are possible, that construction which favours the assessee must be adopted
Can Deduction u/s 24(b) Be Claimed Even If Property Is Not Owned?
The methodology of arriving at the annual value for computing income chargeable under the head of House property is based on ownership rather than possession.
Taxability of Different Supplies Under GST – CBIC Clarifies
Clarification released regarding various taxation issues under GST.
