CBDT extends deadline to comply with section 54 to 54GB provisions considering then prevailing Covid 19.
Circular No. 1 of 2023, dated 6-1-2023.
HC cannot interfere with finding of facts recorded by ITAT without framing a specific question of law.
Muthoot Leasing and Finance Ltd. v. Commissioner of Income-tax – [2023] 146 taxmann.com 53 (SC).
Purchase by assessee could not be treated as bogus if AO did not dispute corresponding sales transactions.
Principal Commissioner of Income-tax v. Nitin Ramdeoji Lohia – [2022] 145 taxmann.com 546 (Bombay).
Sec. 201 – ITAT Order not accepted by department and pending appeal should be followed by Dept. for succeeding assesssment years unless operation of order is stayed/suspended.
Income Tax Officer (International Taxation) IT Ward 2(3)(2) v. GIA Laboratory (P.) Ltd. – [2022] 145 taxmann.com 650 (SC).
Sec. 40(a)(iib) – Surcharge as sales tax or turnover tax paid by assessee company to State Government was not a ‘fee or charge’ coming within scope of section 40(a)(iib); review petition dismissed.
Assistant Commissioner of Income-tax v. Kerala State Beverages Manufacturing and Marketing Corporation Ltd. – [2022] 145 taxmann.com 513 (SC).
Central Govt. notifies Special Court in Odisha for the purpose of Income Tax & Black Money Act.
Notification No. S.O. 6066 (E), dated 26-12-2022.