Rental Income

Income Tax

Foreign Company Income Not Taxable in Shareholders’ Hands, HC Clarifies. | Biz Flow Kit
Byadmin April 30, 2026

Foreign Company Income Not Taxable in Shareholders’ Hands, HC Clarifies The case arose from a search conducted on Pradeep and Neera Wig, during which documents were found relating to luxury flats in London owned by Carmichael Capital Limited (CCL), a company incorporated in the British Virgin Islands. The entire shareholding of CCL was held by…

Read More Foreign Company Income Not Taxable in Shareholders’ Hands, HC Clarifies. | Biz Flow Kit
Income Tax

ITAT Quashes Assessment for Invalid Section 143(2) Notice; Grants Multiple Reliefs to Assessee | Biz Flow Kit
Byadmin April 19, 2026

ITAT Quashes Assessment for Invalid Section 143(2) Notice; Grants Multiple Reliefs to Assessee The assessee, ABC India Limited, filed its return declaring a loss for AY 2022-23, which was selected for scrutiny under CASS. The Assessing Officer completed the assessment under Section 143(3) read with Section 144B, making multiple additions, including capital gains on the…

Read More ITAT Quashes Assessment for Invalid Section 143(2) Notice; Grants Multiple Reliefs to Assessee | Biz Flow Kit