The Chennai bench of the Income Tax Appellate Tribunal ( ITAT ) presided by Mr. I G. Manjunatha, Accountant Member, and Mr. Anikesh Banerjee, Judicial Member has held that compensation received for relinquishment of right

The Income Tax Appellate Tribunal (ITAT), Jaipur has directed the Assessing Officer to wait till the Supreme Court pronounce a judgment in Sharda Pareek v. Assistant Commissioner of Income Tax & another, where the question

Dissatisfied by the low revenue figures under the GST regime, the Central Government is planning to make strategies and entrusted the State to identify the issues with a view to boost the revenue. Finance Secretary

The Income Tax Appellate Tribunal (ITAT), Raipur bench has held that the compensation received by the assessee- Company for the closure/ termination of business activity resulting in loss of source of income, impairing its profit-making

Reportedly, the request of the State Governments to extend the period of GST compensation beyond five years is likely to be rejected by the 15th Finance Commission. According to the Commission, the tax buoyancy will

In a recent ruling, the Income Tax Appellate Tribunal (ITAT), Delhi bench has held that no TDS can be levied on the enhanced compensation for the compulsory acquisition of the agricultural land. The Tribunal further

The State Government, on Thursday, modified the concerned rules granting the power to the local bodies to determine the compensation to them for the loss of revenue due to the implementation of the Goods and

The Ministry of Finance, Department of Expenditure has on Friday, released the 17th weekly instalment of Rs.5,000 crore to the States to meet the GST compensation shortfall. Out of this, an amount of Rs. 4,730.41 crore

The Tamil Nadu government received Rs 632 crore as compensation from Centre under the new Goods and Services Tax (GST) regime. The compensation is for the period July to October last year. While the state

The Rajasthan High Court has referred the  issue of interest on compensation for motor accident claims exigible to tax, does the insurance companies are required to deduct TDS to Larger Bench. The petitioner, Satya Narayan

The Central Board of Indirect Taxes and Customs ( CBIC ) had notified the extension of the exemption period for the specified goods deposits under the Section 51A(4) of Customs Act, 1962. The period has

Embracing the role of a Chartered Accountant ( CA ) graduate opens doors to a career marked by high demand for specialised skills and financial expertise within the professional realm. This esteemed profession holds a

The Finance Ministry has opened the Special Window to States for meeting the GST Compensation Cess shortfall. Under Option-I States were to be provided a Special Window of Borrowing of ₹1.1 lakh cr, and over

The Himachal Pradesh Court recently observed that the consent of parties for extending arbitral period need not necessarily be in writing. Land, building, trees etc. of the appellants situated in Mandi District were acquired by

The Pune bench of the Income Tax Appellate Tribunal (ITAT) held that the compensation paid by the builder for delay in handing over the possession of the flat is a part of a work-in-progress, thus,