Sec. 28(iv) – Grant paid by Dutch Govt. directly to Dutch Co. to subsidise import of windmill by Indian Co. is not taxable u/s 28(iv).
Commissioner of Income-tax v. Tube Investments of India Ltd. – [2022] 140 taxmann.com 93 (Madras).
Faceless Appeal Scheme, 2021 mandating grant of personal hearing is curative amendment; applies retrospectively: ITAT.
Bank of India v. ACIT – [2022] 140 taxmann.com 41 (Mumbai-Trib.).
NFT whose transfer results in a transfer of ownership of an underlying tangible asset is not VDA.
Notification No. 75, dated 30-06-2022.
CBDT notifies Form 26 QF for filing of statement of tax deposited u/s 194S by ‘Exchange’.
Notification No. 73/2022, dated 30-06-2022.
Gift vouchers, reward points, and website subscription is excluded from definition of VDA.
Notification No. 74/2022, dated 30-06-2022.
Sec. 234A – Where assessee paid interest on late payment of tax belatedly after application to waive such interest amount got rejected, assessee was liable to pay interest on such late payment of interest.
Ravikumar Dhandhania v. Income-tax Officer – [2022] 139 taxmann.com 342 (Madras).