Home Highlights February 2019 Year 2019 This

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1. Effect of the amendment - Retrospective or prospective - It may be clarified that the expression “proceed to determine” is found in the amendment made to the KVAT Act...

2. Allowability of Education cess paid - in the Finance Bill, 2022 introduced in the Parliament an amendment to Section 40 was proposed by insertion of Explanation 3 with...

3. Period of limitation for initiating assessment - amendment with retrospective effect - it can be inferred that the amendment in Section 40 by virtue of the Amendment...

4. CSR expenditure - whether a allowable business expenditure? - explanation to Section 37(1) of the Act would not be applicable as it was with effect from the assessment...

5. 100% EOU - purchase of certain machinery from another 100 % EOU - Effective date of amendment - From the date of notification or from retrospective effect - The...

6. Addition u/s 43CA - difference between sale value of the flats sold and the stamp duty value of the same - The net effect of the judgment of the Supreme Court is that if...

7. Amendments made to Section 40(a)(ia) by Finance Act, 2010 - Retrospective effect or Prospective effect - The amended section 40(a)(ia) expands and further liberalises...

8. Deduction u/s. 80G - CSR - No specific tax exemptions have been extended to CSR expenditure. The Finance Act, 2014 also clarifies that expenditure on CSR does not form...

9. MCA’s Frequently Asked Questions on eligibility of CSR expenditure related to COVID-19 activities - News

10. Disallowance u/s 14A r.w.r. 8D - scope of amendment made by the Finance Act, 2022 to Section 14A - Amendment is retrospective or prospective in nature - the amendment of...

11. Capital gain Computation - Stamp duty valuation u/s 50C - Once legislature very graciously accepts, by introducing the legal amendments in question, that there were...

12. Disallowance made u/s 35(1)(ii) - withdrawal of recognition with retrospective effect - claim weighted deduction of 175% - the donor (i.e assessee herein) cannot be...

13. Disallowance of expenditure towards development of property - no supporting bills of expenditure were provided - CIT(A) has allowed on ad hoc basis only 40% of the...

14. Cancellation of GST registration of petitioner with retrospective effect - the SCN did not indicate that the petitioner’s GST registration was proposed to be cancelled...

15. Cenvat Credit - Supply to SEZ - Amendment to rule 6 - whether retrospective or prospective - the amendment is clarificatory in nature - held as retrospective - HC