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Taxpayer Has Duly Established Existence Of Subscriber Companies: Kolkata ITAT Deletes Addition Made Towards Share Premium U/s 68

Referring to the decision of Bombay High court in the case of PCIT v. Paradise Inland Shipping Pvt Ltd. [2017] 84 taxmann.com 58 (Pan), the Kolkata ITAT deleted the addition made towards share. ....

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Undisclosed Income Taxed In The Hands Of Flagship Company Can't Be Again Subjected To Tax In The Hands Of Assessee Companies: Delhi High Court

The Delhi High Court has held that undisclosed income taxed in the hands of flagship companies cannot be again subjected to tax in the hands of assessee companies.The bench of Justice Rajiv Shakdher. ....

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Karnataka High Court Disqualifies JD(S) Leader Prajwal Revanna As MP Over Violations In Poll Affidavit

Karnataka High Court Disqualifies JD(S) Leader Prajwal Revanna As MP Over Violations In Poll Affidavit
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I-T department serves show-cause notice to former CM Chandrababu Naidu

The notice, reviewed by HT, was issued by the Central Circle, Hyderabad, on August 4 | Latest News India ....

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Income Tax Settlement Commission's Purpose Is To Give Assessee Chance To Disclose Undisclosed Income To Seek Immunity : Supreme Court

A Division bench of the Supreme Court, while hearing an appeal, discussed the objective and purpose behind setting up a Settlement Commission under the Income Tax Act 1961. The Court opined:“We find. ....

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