Sec. 193 – No TDS deductible on interest payable as NCDs/FDs is less than Rs. 5,000.
Commissioner of Income-tax (TDS) v. Jai Prakash Associates Ltd. – [2022] 144 taxmann.com 24 (SC).
Sec. 12AA – While considering registration of assessee – trust u/s 12AA, non-commencement of charitable activities could not be ground for rejection of application.
Director of Income-tax (Exemptions) v. Meenakshi Amma Endowment Trust Etc. – [2022] 143 taxmann.com 240 (SC).
GAAR can be invoked against ‘Treaty Shopping’ only if it leads to abuse of tax treaty: Supreme Court of Canada.
Her Majesty The Queen v. Alta Energy Luxembourg S.A.R.L. – [2022] 144 taxmann.com 23 (SCC).
CBDT proposes common ITR by merging all existing Forms except ITR-7; releases draft ‘Common ITR’.
Notification F. No. 370133/16/2022-TPL, dated 01-11-2022.
CBDT condones delay in filing of Form 10A which was required to be e-filed by March 31, 2022.
Circular No. 22/2022, dated 01-11-2022.
Sec. 37(1) – Loss on investment in subsidiary – Notice issued in SLP against order of the HC that loss on account of permanent diminution in value of investment made in subsidiary company in order to expand business being driven by business expediency, would be allowable as revenue expenditure u/s 37(1).
Principal Commissioner of Income-tax v. Vaibhav Global ltd. – [2022] 143 taxmann.com 211 (SC).