Baisakhi Ganguly

Some FAQs about GST- Understanding Scope and Provisions of GST 4 min read

• GST

Some FAQs about GST- Understanding Scope and Provisions of GST

Baisakhi Ganguly 8 years ago

The Goods and Services Tax or GST has been launched on the 1st of July, this year and it is set to change the process... Read More

Assessing Officer cannot review total order of Income Tax u/s 154 assessment on debatable issues 5 min read

• Income Tax

Assessing Officer cannot review total order of Income Tax u/s 154 assessment on debatable issues

Baisakhi Ganguly 8 years ago

The Case pertains and revolves around the issue that the mistake sought to be corrected u/s 154 by Assessing Officer must be obvious that such... Read More

Accounting of Income -whether on receipts or accrual basis 4 min read

• Income Tax

Accounting of Income -whether on receipts or accrual basis

Baisakhi Ganguly 8 years ago

The Hon’ble Income Tax Appellate Tribunal, Amritsar in the case of Income Tax Officer, Ward 1(2), Jalandhar (Appellant) vs. Mala Tandon, wife of Shri Rohit... Read More

Is TCS on jewellery abolished in Union Budget 2017-18 or its limit lowered? 3 min read

• Income Tax

Is TCS on jewellery abolished in Union Budget 2017-18 or its limit lowered?

Baisakhi Ganguly 8 years ago

The Union Finance Minister Mr. Arun Jaitley in the Union Budget 2017-18 has abolished TCS on jewellery. The provisions regarding the TCS on sale of jewellery... Read More

Provisions of section 206AA of the Act will not override all other provisions of the Act 5 min read

• Income Tax

Provisions of section 206AA of the Act will not override all other provisions of the Act

Baisakhi Ganguly 8 years ago

The Income Tax appellate Tribunal at Hyderabad in the case of Nagarjuna Fertilizers and Chemicals Limited vs. ACIT being Income Tax Appeal No. 1187/H/2014 has... Read More

Transactions in cash and future segment cannot be segregated for the purpose of Income Tax 6 min read

• Income Tax

Transactions in cash and future segment cannot be segregated for the purpose of Income Tax

Baisakhi Ganguly 8 years ago

The Income Tax Appellate Tribunal at Mumbai in the case of ITA No.3654/M/2014 Assessment Year 2009-10 filed by M/s. J.M. Financial Services Ltd., (Formerly J.M.... Read More

CBDT declares that no disallowance for exempt income if the securities are stock-in-trade 5 min read

• Income Tax

CBDT declares that no disallowance for exempt income if the securities are stock-in-trade

Baisakhi Ganguly 8 years ago

The Special Jurisdiction (Income Tax) of the Hon’ble High Court at Calcutta, Original side, with reference to the circular dated 11.02.2014 passed by the Central... Read More

Assessing Officer is entitled to withhold Income Tax Refund if he has doubt 3 min read

• Income Tax

Assessing Officer is entitled to withhold Income Tax Refund if he has doubt

Baisakhi Ganguly 8 years ago

The Central Board of Direct Taxes has held that Assessing Officer is entitled to withhold Income Tax refund in any case if he has doubt... Read More

Income tax department can reopen old cases, even upto ten years, in case of big deals 3 min read

• Income Tax

Income tax department can reopen old cases, even upto ten years, in case of big deals

Baisakhi Ganguly 8 years ago

As per the memorandum of the Finance Bill 2017, the Income tax department can reopen old cases and the books of accounts of an assessee... Read More

Expenses on Stock Options are deductible Revenue Expenditure 6 min read

• Income Tax

Expenses on Stock Options are deductible Revenue Expenditure

Baisakhi Ganguly 8 years ago

The Income Tax Appellate Tribunal at Delhi in the case of ITA No.2283/Del/2013 Religare Commodities Ltd, D3, P3B, District Centre, Saket, New Delhi vs. ACIT,... Read More