CBDT extends due date of furnishing ITR for A.Y. 2022-23 from Oct. 31, 2022 to Nov. 7, 2022.
Circular No. 20/2022 [F. No. 225/49/2021/ITA-II], dated 26-10-2022.
SC ruling brings much needed clarity on charity for tax exemption purposes by interpreting the definition of ‘Charitable purpose’ in section 2(15) of the Act.
ACIT (Exemptions) v. Ahmedabad Urban Development Authority – [2022] 143 taxmann.com 278 (SC).
‘Solely’ in section 10(23C)(vi) means exclusively/only. This interpretation will apply prospectively to avoid disruptive effect.
New Noble Educational Society v. CCIT – [2022] 143 taxmann.com 276 (SC).
Quoted Equity shares which are in ‘lock-in-period’ are not ‘quoted shares’ but ‘unquoted shares’ for the purposes of valuation under Wealth-tax Act.
Deputy Commissioner of Gift-tax, C.C. II v. BPL Ltd. – [2022] 143 taxmann.com 222 (SC).
Govt. asks for suggestions on direct & indirect taxes changes for Budget 2023-24 proposals.
Notification F. No. 334/6/2022 – TRU, dated 14-10-2022.
HC quashes Benami proceedings initiated against AAP’s Minister Satyendar Jain; cites SC ruling.
Jaladi Prasuna v. UOI – [2022] 143 taxmann.com 188 (Delhi).