Provisions of Sec. 14A inapplicable on profits from shares where shares were held as stock-in-trade and not as investment particularly by banks.
Pr. CIT v. Punjab National Bank, 2022-TIOL-888-HC-DEL-IT.
CBDT issues guidelines for TDS u/s 194S where VDAs are transferred through an exchange.
Circular No. 13/2022 [F. No. 370142/29/2022-TPL] (Part-1), dated 22-06-2022.
It is trite law that if Revenue does not challenge a High Court’s judgement on an issue in respect of one assessee, then it cannot challenge such verdict in respect of some other assessee.
CIT v. Tata Teleservices Ltd., 2022-TIOL-878-HC-DEL-IT.
CBDT notifies Challan-cum-statement Form 26QE for payment of tax deducted on VDAs.
Notification No. 67/2022, dated 21-06-2022.
Section 50B: Negative figure of net worth cannot be ignored for working out capital gains in case of a slump sale u/s 50B.
Medi Assist Insurance TPA (P) Ltd. v. Deputy Commissioner of Income-tax – [2022] 139 taxmann.com 162 (Bangalore-Trib.).
Remuneration received from firm cannot be construed as gross receipt for purposes of tax audit u/s 44AB.
Perizad Zorabian Irani v. PCIT – [2022] 139 taxmann.com 164 (Bombay).