The organized freelancer will make sure the amount here is right.; Credit: Photo by Great Beyond via Flickr Creative Commons

For freelancers, consultants, actors and other self employed people, life gets complicated this time of year. Digging around for the paperwork to fill out tax forms practically qualifies as exercise.

"They have a nightmare trying to find receipts," said accountant Tristan Zier.

Zier founded Zen99 to help freelancers manage their finances, including filing their taxes.  His most important advice to freelancers: keep track expenses and receipts year round rather than pursuing a paper chase as April 15 nears.  

"When they can’t find receipts, they can’t write off their expenses," he said. "And they’re paying more money to the government instead of keeping it for themselves."

Zier and others have come up with a lists of common mistakes freelancers make at tax time. 

Here are seven don't - or, deadly sins, for freelances at tax time:

1. Not knowing what they owe.  Zier says there are 20 different 1099 forms that get sent out to workers to track freelance gigs.  One of them is the 1099-K, which only has to be sent to you by a company in paper form if you make over $20,000. "People think, 'Great, no paper form, no taxes on that," says Zier. "Big mistake there.  You still have to self-report the income."   
2. Not knowing WHEN they owe.  For freelancers who owe more than $1,000 in taxes for a year, tax time comes more often than just April 15.  They have to pay taxes quarterly. But then it's not coming out of paychecks like it does for permanent employees. 

3.  Not tracking and writing off the right types of business expenses. Zier says many freelancers fail to realize they can write off part of their cell phone bill as a business expense.  Expenses vary by the type of work.  "A rideshare driver's biggest expense will be related to their car, while a web developer's biggest expense might be their home office," Zier says. "Figuring out what expenses are important to your type of work is important is maximizing your tax savings."

4. Writing off personal expenses.  This goes back to that cell phone.  If you use the same phone for personal and business purposes, don't be tempted to write the whole bill off. Estimate the amount you use it for your work. The same goes for your vehicle. Don't go trying to write off miles driven to the beach. 

5. The Double No-No: counting expenses twice.  Speaking of vehicles, Zier says most people use the Standard Mileage Rate ($0.56/mile for 2014), which factors in gas, repairs and maintenance and other costs like insurance and depreciation. But if you use this rate, you can't also expense your gas receipts and repair bills.  

6. Employee AND employer.  At lifeofthefreelancer.com, financial consultant Brendon Reimer reminds freelancers they play both roles. For regular employees, Federal, State, and payroll taxes are withheld from a paycheck, and distributed on the employee’s behalf. It's how Social Security and Medicare are funded. The IRS mandates that the employer must pay half of every employee’s payroll tax, and the employee is responsible for the other half.  Independent contractors have to handle both halves.  "The IRS does give you a small benefit by letting you deduct the half that you pay yourself as a business expense," Reimer writes. Zier said the freelancer's sin here is believing he or she pays more taxes than the regular working stiff.  

7. Not keeping adequate records. The IRS requires you to keep proof of all business receipts, mileage, etc.  If you can't show these, the IRS  could refute the expense and force you to pay back taxes. Zier says the good news is there are other ways to prove expenses if you've lost the receipt. A bank or credit card statement with the date and location might do the trick. "The IRS is surprisingly accommodating if you are doing your best," Zier says. "If you're being a headache, they're going to be a headache as well." 

In separate reports, Zen99 and the consumer finance web site nerdwallet ranked Los Angeles the best city for freelancers.

Each considered housing and health care costs, the percentage of freelancers in an area as factors. Zier said even before the sharing economy began to take off, the entertainment industry and growing tech scene were already strong sources of freelance gigs in L.A.

"Even back in 2012, L.A. had twelve percent of people report themselves as self-employed on the Census," Ziers said.   "You know your Ubers and companies like that  are really bringing a lot of attention to the contractor market, but it was a very robust community before."

This content is from Southern California Public Radio. View the original story at SCPR.org.

Shout out to my 20 million brothers and sisters-  The one in seven U.S. taxpayers who waited until the last minute to file. 

This year, the IRS even gave us 'til April 18th-  So the 18th is when I filed- For my extension!  See you in October!

In my defense, it was not due to lack of effort.  It feels like I spent 200 hours on my taxes this year, because they were unusually complicated. 

Back when I was in my twenties?  Much effort was put into stacking red milk crates for bookshelves and trying to fold up a futon without mangling my fingers-30 years later, I'm trying to do really smart grown-up things.

To wit, my life partner and I have been business partners for almost 20 years.  We used to be young-  Now we're-ahem-"less young"-  Picture the Boomers you see in those ads, silver-haired, in wet suits, running towards the ocean with surfboards, very at peace with nature and our fully-funded 401-K plans - Except that we don't surf and, regarding those 401-K plans?

Well, what I have written on the notepad I stole from Charles Schwab is-  And I quote:
"Retirement and write it off, and something about medical." 

When I look at this enigmatic scribble, an image comes to me: A friendly thirty-something man dressed in charcoal gray business casual- And a desk, and a plant-  And that man is saying:

"Sandra, by all means, you need to form a C corp!  NOT an S corp!"

But wait, is that what he said? Maybe it was:
"Sandra, by all means, you need to form an S Corp!  NOT a C corp!"

It was like being in school and confronting a page of long division- Or sitting in a deadly after-lunch class like "US Government"-  There's this mix of incomprehension, coupled with boredom, that makes it all sound like white noise.

S corp, C corp-  These things involve a part of my brain that refuses to fire.  All I know is there was one kind that was right, it's not the one I did, at some moderate expense, and now I'm going to jail. 

Where at least I won't have to fold a futon.  I think.

Next week: Separate Bathrooms, Separate Quicken Accounts

This content is from Southern California Public Radio. View the original story at SCPR.org.

Dave Ramsey—  The financial radio talk show host—  Says every couple has two people.  One is the nerd with the calculator.   The other is the spendy free spirit. 

In my couple, I am the nerd.  I am calmed by a seven-by-seven Ken Ken and a mechanical pencil.  No surprise that I have used Quicken now for several decades.  But it seems in the last five or 10 years—  What with the Russian hackers stealing our info to get porn—  The cheapo, Windows-based laptops Quicken favors have gotten very buggy. 

So buggy, I bought a sacrificial Dell laptop just for Quicken.   But even that lasted barely six months without crashing.  So Charlie, the free spirit, took over paying the bills!  Writing checks by hand!  Notating them in a large, impressive leatherette binder!  The checks are pretty—tan and sort of antique-looking.  There's a stagecoach on them.

This was all charming until I realized it was tax time. To get all my financial info into the computer, I was going to have to hand-enter each check.  With a quill pen and a butter churn.

While in the joyous process of hand-inputting each check that went out in calendar year 2016— I learned some interesting things!

That beautiful 8-lane highway we drove on that time we visited friends in Orange County? That was a toll road that we apparently didn't pay for. 250 dollar fine! Plus--We're subscribers to something called Cook's Country Magazine, even though I am NOT into "homestyle cooking." And -- we've been paying hundreds of dollars a month for gym memberships that I didn't know we have!

Argh!

Losing it, I throw in the towel and buy myself my own personal version of Quicken—for Mac—  There's a help line to call—  And unbelievably, an operator immediately answers.  He's a courteous gentleman with a lilting, slightly British accent.  He answers my "sign in" question, and asks: "Do you want me to stay on the line while you try it?" "Sure!" I say, surprised.

We click pleasantly through a few more windows—  He's marvelously patient, and attentive—  Wanting to be entertaining, I actually start reciting my passwords aloud as I type them.  

"Let's see—2, 3, 4—asterisk, star, Sparky Sparky, that was my first pet— "Now I'm actually going to have to go downstairs to get my purse," I say, "and maybe go to the ladies' on the way 'cause I've had a lot of coffee— "
"It's fine!" he says—
"Well you can continue playing Solitaire or whatever you're doing!" I say.  And he chuckles!
Doing your taxes?  It takes a village.  And a butter churn.

This content is from Southern California Public Radio. View the original story at SCPR.org.

California Jerry Brown will sign a bill to expand California's film and television tax credit program into law in Hollywood; Credit: Justin Sullivan/Getty Images

A moment Hollywood's been waiting a while for will take place... in Hollywood. 

A ceremony is planned for Thursday morning at the Chinese Theater where Governor Jerry Brown will sign the "California Film and Television Job Retention and Promotion Act" into law.

The bill - also known  as AB 1839 — will more than triple the funding for California's film and television production tax credit program. 

The push to expand and enhance the tax credit program has been going on for more than a year. In August of 2013, Los Angeles Mayor Eric Garcetti used the term "state of emergency" to characterize the flight of film and television production to other states and countries. Garcetti is expected to speak at the ceremony. 

Los Angeles-area Assemblymen Mike Gatto and Raul Bocanegra are also expected to be on hand. They introduced AB 1839 in February and moved it strategically through the legislature in Sacramento. While there were few vocal opponents of expanding the tax credit program, the big question was by how much. Many supporters hoped to see the annual pot raised from the current $100 million to at least $400 million, but an exact dollar amount wasn't specified until very late in the legislative process.

In April, the state Legislative Analyst's Office released its hard look at the current tax credit program, pointing out that the state is only getting back 65 cents in tax revenues for every dollar it’s spending on the film and TV subsidy.  The bill to expand the program kept moving.

California's magic number turned out to be $330 million dollars, not as high as chief rival New York State's $420 million per year, but still more than triple California's current offering. Along with the extra cash, AB 1839 also changes the way the tax credit program will be administered.   Rather than using a one-day lottery to determine which productions receive the credit, the state will measure the projects based on their potential to create jobs.   A project that overestimates that potential could be penalized.  

In this file photo, California Gov. Jerry Brown speaks during a news conference on January 17, 2014 in San Francisco, California. Brown on Thursday signed a bill that more than triples the state's annual tax credit for film and TV production to $330 million.; Credit: Justin Sullivan/Getty Images

Gov. Jerry Brown has headed to the cradle of the Hollywood film industry to sign legislation that more than triples the state's annual tax credit to $330 million a year for films and TV shows produced in California.

Brown says the increase is needed to help prevent other states and countries from hijacking film and TV production by offering their own lucrative incentives.

Brown signed the bill Thursday at the former Grauman's Chinese Theatre, where handprints and footprints of stars from the eras of Humphrey Bogart to Robert De Niro are embedded in concrete.

Under the new system, credit will be awarded based on the number of jobs a production creates and its overall positive impact on the state.

The historic cinema is now called the TCL Chinese Theatre IMAX.

Film tax credit doc

Allies of the film industry in the Louisiana Legislature said Wednesday they will work to salvage the state’s production incentive, after the House voted to repeal it this week. The state House of Representatives voted on Tuesday to sunset the $150 million program on June 30, 2025, as part of a tax reform package that […]

“This year’s PLP Throne Speech promised taxi owners a payroll tax relief, but legislation still has to be tabled and passed before the relief can be meted,” Shadow Transport Minister Susan Jackson said. Ms Jackson said, “Taxi owners expected the tax relief in September, but were met with resistance from TCD staff. Now there’s confusion […]

Geração de emprego atinge patamar recorde, mas esconde problemas como altos índices de informalidade, subutilização da força de trabalho e jornadas exaustivas

The online survey shows only 16 per cent of respondents are comfortable with further tax increases than what was already approved for the 2023-26 operating and capital budgets. 

The Ottawa Police Services Board tabled a net operating budget of $388.7 million Wednesday morning, up $16.3 million from 2024. 

Ottawa city staff have drawn up a budget that would hike taxes and transit fares to patch over a gaping transit deficit.

Treasury has published a discussion document on phase 2 of the carbon tax, which kicks in 1 January 2026

Amid the anticipated increase in revenues this coming Christmas season, the Bureau of Internal Revenue (BIR) issued a warning to online marketplaces to pay the right taxes, saying that they are closely monitoring them this Yuletide season. “If retail or physical stores are registered and paying their taxes, online stores should do the same. In the coming months, we are expecting an increase in revenue of online businesses due to the holiday spending spree,” BIR Commissioner Romeo Lumagui Jr. said in a statement. The government’s tax agency said that they can block website access, similar to their “oplan kandado program” […]...

Keep on reading: BIR reminds e-commerce platforms to pay right taxes this holiday season

• Hike in petroleum levy, imposition of GST on petroleum products not expected anytime soon
• Govt sees economic activity picking up next month due to stable rupee, lower policy rate
• Senate body points to issues in Islamic banking, fraudulent POS receipts, fake ATM notes
• 10pc levy on transport with Iran has left over 600 trucks stalled

ISLAMABAD: The Inter­national Monetary Fund (IMF) is reported to have expressed satisfaction over the increase in the tax-to-GDP ratio by nearly 1.5 percentage points, relieving the authorities from any push for additional tax measures through a mini-budget.

According to sources closely involved in ongoing discussions with the visiting IMF mission, the Federal Board of Revenue’s (FBR) revenue collection target for the current fiscal year will remain unchanged at Rs12.97 trillion. Authorities have ruled out the need for additional taxes or a mini-budget, citing the IMF’s positive response.

Officials said that economic activity is expected to pick up by December in view of a stable exchange rate and a reduction in the State Bank’s policy rate, likely offsetting a tax shortfall of around Rs190 billion recorded in the first four months (July to October) of the fiscal year.

There would neither be any increase in the petroleum levy nor would general sales tax (GST) be imposed on petroleum products, the sources said after a meeting of the Senate Standing Committee on Finance and Revenue presided over by PPP Senator Salim Mandviwalla.

They said the tax-to-GDP ratio had increased from 8.8pc to 10.3pc and the IMF was satisfied with this 1.5 percentage point improvement.

The sources reiterated the commitment given to the IMF that tax collection on agriculture income would start from the next fiscal year. They said that tax reforms were progressing and the draft Tax Laws Amendment Ordinance 2024 had been presented to the prime minister for approval. The ordinance contains a new family income tax return system and abolishes the concepts of non-filers and late filers.

The sources, however, hinted at tinkering with the Tajir Dost Scheme to effectively bring in traders into the tax net and said these were being discussed with the IMF mission during the ongoing meetings.

The IMF has been told that the FBR collected Rs12bn from retailers during the first quarter of 2024-25, although only 500,000 potential retailers were the target out of three million small shopkeepers.

‘Slow progress on Islamic banking’

Earlier, the Senate panel decided to call scholars of the Council of Islamic Ideology to have input on the working of Islamic banking operations in Pakistan, for which a special session would be arranged.

The central bank’s deputy governor told the panel that Riba was the main difference between conventional banking and Islamic banking.

Senator Farooq H. Naek pointed out that full implementation of Islamic banking was committed for 2027, but progress had been very slow. The SBP’s deputy governor emphasised the need for continued deliberation on Islamic banking and assured the committee that several banks were actively working towards compliance.

FBR Chairman Rashid Mehmood Langrial told the panel that FBR’s enforcement would be improved in the coming months after approval of a transformation plan, including enhancing the board’s operational expertise, organisational capacities and anti-smuggling measures.

Key discussions during the meeting included the contentious 10pc levy on transport and businesses between Pakistan and Iran, raised by Senator Manzoor Ahmad Kakar in a Senate session. The committee resolved to report to the house that the issue may be referred to the Standing Committee on Communications, noting that the levy, imposed with the federal government’s approval, did not pertain to the Federal Board of Revenue.

While FBR officials emphasised that this specific tax was not their responsibility, Senator Kakar raised concerns that Pakistani trucks were being unfairly taxed, with over 600 trucks currently parked due to the levy. The committee agreed to forward the matter to the Communications Committee for further deliberation.

The committee also discussed concerns raised by Senator Mohsin Aziz regarding the fee collected by FBR for point of sale (POS) services and its utilisation. The FBR chairman confirmed the introduction of a policy to penalise businesses that are issuing fake POS receipts, imposing fines of Rs500,000 and shutting down shops involved in such practices.

Senator Aziz highlighted weaknesses in enforcement, with some fake receipts circulating in the mar­ket, including a bill in Islamabad marked “tentative”. The FBR chairman acknowledged the issue and assured that enforcement mea­sures would be strengthened soon.

A key briefing by the SBP highlighted the performance of banking branches in smaller provinces, revealing that as of June 30, 2024, there were 3,334 banking branches operating in Balochistan, Khyber Pakhtunkhwa, Azad Jammu and Kashmir and Gilgit-Baltistan, accounting for 20pc of the total nationwide branches. Additionally, 199 branches of microfinance banks were serving these regions, representing 13pc of the country’s total microfinance network.

Another pressing issue discussed was the problem of counterfeit currency dispensed from ATMs. Senator Kakar cited a case where a young man received fake Rs5,000 notes from an ATM. The CEO of a commercial bank assured the committee that security measures were being enhanced to address this issue.

Published in Dawn, November 14th, 2024

President Joe Biden's Environmental Protection Agency finalized a new rule Tuesday taxing methane emissions from the oil and gas sector, but critics argue the move is "irrelevant" and will serve to boost Big Oil and stifle innovation.

Republicans do not have the luxury of wasting all their political capital on a damaging internal family feud that would drag on for weeks or months.

The fight over Canada's controversial digital services tax may escalate this week, as a deadline looms for the Biden administration to decide whether to proceed with dispute arbitration under the revised North American trade deal amid retaliation threats from Donald Trump's next administration.

A woman was sent flying after she was hit by a car on Wednesday (Nov 13) morning. The incident occurred at the junction of Orchard Road and Handy Road. In a video posted to the SG Kaypoh Facebook group, the woman is seen crossing the road while the traffic light was not in her favour.   She appears to be looking down at her phone. The driver involved in the accident did not notice her till it was too late and collided with her head-on. In the video, the woman is sent flying and lands several metres in front of the car upon impact. She manages to sit up after landing, and looks stunned from the impact.   The driver and his passenger also rush out of the vehicle to assist.  Speaking to AsiaOne, the Singapore Civil Defence Force said that the female pedestrian was conveyed conscious to Tan Tock Seng Hospital. When contacted, the police said they were alerted to an accident involving a taxi and a pedestrian at the junction of Orchard Road and Handy Road on Nov 13 at about 3.15am.

So i have some doubts regarding my freelance income and the tax and gst on it.If i file under section 44ada , the thing is if i have income of 40lakh and i file tax on 20lakh (50%) than how can i justify if i invested around 16lakh in stocks and suppose 8 lakh i payed for the prep

On November 12, 2024, the Central Board of Direct Taxes (CBDT) issued a notification granting tax-exempt status to the Petroleum and Natural Gas Regulatory Board (PNGRB) under section 10(46A)(b) of the Income-tax Act, 1961. ...

The upcoming GST Council meeting in Rajasthan on December 21-22, 2024, may bring potential tax relief for insurance policyholders. ...

As the Union Budget 2025 approaches, the CBDT is reportedly focused on introducing a streamlined version of India’s income tax laws. ...

RAVINDER DUDEJA, J.

1. The instant appeal, at the instance of the Revenue, impugns order dated 28.05.2018 passed by the Income Tax Appellate Tribunal ["ITAT"], whereby, the ITAT ruled in favour of the respondent/Assessee and dismissed the appeal preferred against the order passed by Commissioner of Income Tax (Appeals) ["CITA"]. The appeal has been admitted on the following substantial questions of law:-

"A. Did the Income Tax Appellate Tribunal ["ITAT"] fall into error in holding that the entity assessed was no longer in existence having regard to the circumstance that M/s. Infovision Information Services Pvt. Ltd. merely underwent a name change and had responded to the Revenue's notices, having regard to Section 292B of the Income Tax Act, 1961 ["Act"]?

These four appeals filed by two separate assessees have arisen from separate appellate orders passed by learned Commissioners of Income-tax (Appeals), Ahmedabad for the assessment years, 2010-11 & 2011-12.

2. Since facts and issues involved in all these four appeals are similar which is agreed to by both the rival parties before us and that these four appeals were heard together, we deem it appropriate to dispose of all these appeals by this consolidated order for the sake of brevity and convenience. We will first take up the appeal of the assessee in ITA No. 2498/Ahd/2013 for A.Y. 2010-11, and our decision in this appeal shall apply mutatis mutandis to remaining three appeals.

These four appeals filed by two separate assessees have arisen from separate appellate orders passed by learned Commissioners of Income-tax (Appeals), Ahmedabad for the assessment years, 2010-11 & 2011-12.

2. Since facts and issues involved in all these four appeals are similar which is agreed to by both the rival parties before us and that these four appeals were heard together, we deem it appropriate to dispose of all these appeals by this consolidated order for the sake of brevity and convenience. We will first take up the appeal of the assessee in ITA No. 2498/Ahd/2013 for A.Y. 2010-11, and our decision in this appeal shall apply mutatis mutandis to remaining three appeals.

These four appeals filed by two separate assessees have arisen from separate appellate orders passed by learned Commissioners of Income-tax (Appeals), Ahmedabad for the assessment years, 2010-11 & 2011-12.

2. Since facts and issues involved in all these four appeals are similar which is agreed to by both the rival parties before us and that these four appeals were heard together, we deem it appropriate to dispose of all these appeals by this consolidated order for the sake of brevity and convenience. We will first take up the appeal of the assessee in ITA No. 2498/Ahd/2013 for A.Y. 2010-11, and our decision in this appeal shall apply mutatis mutandis to remaining three appeals.

These four appeals filed by two separate assessees have arisen from separate appellate orders passed by learned Commissioners of Income-tax (Appeals), Ahmedabad for the assessment years, 2010-11 & 2011-12.

2. Since facts and issues involved in all these four appeals are similar which is agreed to by both the rival parties before us and that these four appeals were heard together, we deem it appropriate to dispose of all these appeals by this consolidated order for the sake of brevity and convenience. We will first take up the appeal of the assessee in ITA No. 2498/Ahd/2013 for A.Y. 2010-11, and our decision in this appeal shall apply mutatis mutandis to remaining three appeals.

These cross appeals are filed by the Revenue and Assessee against order dated 12.03.2020 passed by the CIT(A)-1, Ahmedabad for the Assessment Year 2012-13.

2. The Revenue has raised the following grounds of appeal :-

ITA Nos.345 & 383/Ahd/2020 Assessment Years: 2012-13 "(1) The ld. CIT(A) has erred in facts and law in deleting the transfer pricing adjustment made in respect of Corporate guarantee fees of Rs.60,83,440/-

(2) The id. CIT(A) has erred in facts and law in deleting the interest disallowance of Rs.1,64,86,560/- u/s.36(1)(iii) of the Act.

These cross appeals are filed by the Revenue and Assessee against order dated 12.03.2020 passed by the CIT(A)-1, Ahmedabad for the Assessment Year 2012-13.

2. The Revenue has raised the following grounds of appeal :-

ITA Nos.345 & 383/Ahd/2020 Assessment Years: 2012-13 "(1) The ld. CIT(A) has erred in facts and law in deleting the transfer pricing adjustment made in respect of Corporate guarantee fees of Rs.60,83,440/-

(2) The id. CIT(A) has erred in facts and law in deleting the interest disallowance of Rs.1,64,86,560/- u/s.36(1)(iii) of the Act.

IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER आ.(खो और ज).सं./IT(SS)A Nos.103 -108/RJT/20 17 ( नधारण वष /Assessment Years: (2007-08 to 20 12 -13) Deputy Commissioner of Income Karim K. Makhani Tax, Central Circle-1, "Amruta Vs. Flat No.201, Block No.37, Race Estate", 2nd Floor, M.G. Road, Course Park, Rajkot Rajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) आ.(खो और ज). सं./IT(SS)A Nos.1 25-130/RJT/20 17 ( नधारणवष / Assessment Years: (2007-08 to 20 12 -13) Karim K. Makhani Assistant Commissioner of Income C/o SADP & Co. Chart ered Vs. Tax, Central Circle-1, 2nd Floor, Accountants, BB House, 5- Amruta Estate, Room No.215, M.G Collegewadi, Near Kathiyawad Road, Rajkot-360001 Gymkhana, R ajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) आयकर अपील सं./ITA Nos.210 -213/RJT/2018 ( नधारण वष /Assessm ent Years: (2 008-09 to 20 09 -10, 2011-12 & 2013-14) Deputy Commissioner of Income Karim K. Makhani Tax, Central Circle-1, "Amruta Vs. 37/301, Race Course Park, Airport Estate", 2nd Floor, M.G. Road, Road, Rajkot Rajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) IT(SS)A Nos.103-108/Rjt/2017, 125-130/Rjt/2017 & ITA Nos.210-

IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER आ.(खो और ज).सं./IT(SS)A Nos.103 -108/RJT/20 17 ( नधारण वष /Assessment Years: (2007-08 to 20 12 -13) Deputy Commissioner of Income Karim K. Makhani Tax, Central Circle-1, "Amruta Vs. Flat No.201, Block No.37, Race Estate", 2nd Floor, M.G. Road, Course Park, Rajkot Rajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) आ.(खो और ज). सं./IT(SS)A Nos.1 25-130/RJT/20 17 ( नधारणवष / Assessment Years: (2007-08 to 20 12 -13) Karim K. Makhani Assistant Commissioner of Income C/o SADP & Co. Chart ered Vs. Tax, Central Circle-1, 2nd Floor, Accountants, BB House, 5- Amruta Estate, Room No.215, M.G Collegewadi, Near Kathiyawad Road, Rajkot-360001 Gymkhana, R ajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) आयकर अपील सं./ITA Nos.210 -213/RJT/2018 ( नधारण वष /Assessm ent Years: (2 008-09 to 20 09 -10, 2011-12 & 2013-14) Deputy Commissioner of Income Karim K. Makhani Tax, Central Circle-1, "Amruta Vs. 37/301, Race Course Park, Airport Estate", 2nd Floor, M.G. Road, Road, Rajkot Rajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) IT(SS)A Nos.103-108/Rjt/2017, 125-130/Rjt/2017 & ITA Nos.210-

IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER आ.(खो और ज).सं./IT(SS)A Nos.103 -108/RJT/20 17 ( नधारण वष /Assessment Years: (2007-08 to 20 12 -13) Deputy Commissioner of Income Karim K. Makhani Tax, Central Circle-1, "Amruta Vs. Flat No.201, Block No.37, Race Estate", 2nd Floor, M.G. Road, Course Park, Rajkot Rajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) आ.(खो और ज). सं./IT(SS)A Nos.1 25-130/RJT/20 17 ( नधारणवष / Assessment Years: (2007-08 to 20 12 -13) Karim K. Makhani Assistant Commissioner of Income C/o SADP & Co. Chart ered Vs. Tax, Central Circle-1, 2nd Floor, Accountants, BB House, 5- Amruta Estate, Room No.215, M.G Collegewadi, Near Kathiyawad Road, Rajkot-360001 Gymkhana, R ajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) आयकर अपील सं./ITA Nos.210 -213/RJT/2018 ( नधारण वष /Assessm ent Years: (2 008-09 to 20 09 -10, 2011-12 & 2013-14) Deputy Commissioner of Income Karim K. Makhani Tax, Central Circle-1, "Amruta Vs. 37/301, Race Course Park, Airport Estate", 2nd Floor, M.G. Road, Road, Rajkot Rajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) IT(SS)A Nos.103-108/Rjt/2017, 125-130/Rjt/2017 & ITA Nos.210-

IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER आ.(खो और ज).सं./IT(SS)A Nos.103 -108/RJT/20 17 ( नधारण वष /Assessment Years: (2007-08 to 20 12 -13) Deputy Commissioner of Income Karim K. Makhani Tax, Central Circle-1, "Amruta Vs. Flat No.201, Block No.37, Race Estate", 2nd Floor, M.G. Road, Course Park, Rajkot Rajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) आ.(खो और ज). सं./IT(SS)A Nos.1 25-130/RJT/20 17 ( नधारणवष / Assessment Years: (2007-08 to 20 12 -13) Karim K. Makhani Assistant Commissioner of Income C/o SADP & Co. Chart ered Vs. Tax, Central Circle-1, 2nd Floor, Accountants, BB House, 5- Amruta Estate, Room No.215, M.G Collegewadi, Near Kathiyawad Road, Rajkot-360001 Gymkhana, R ajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) आयकर अपील सं./ITA Nos.210 -213/RJT/2018 ( नधारण वष /Assessm ent Years: (2 008-09 to 20 09 -10, 2011-12 & 2013-14) Deputy Commissioner of Income Karim K. Makhani Tax, Central Circle-1, "Amruta Vs. 37/301, Race Course Park, Airport Estate", 2nd Floor, M.G. Road, Road, Rajkot Rajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) IT(SS)A Nos.103-108/Rjt/2017, 125-130/Rjt/2017 & ITA Nos.210-

IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER आ.(खो और ज).सं./IT(SS)A Nos.103 -108/RJT/20 17 ( नधारण वष /Assessment Years: (2007-08 to 20 12 -13) Deputy Commissioner of Income Karim K. Makhani Tax, Central Circle-1, "Amruta Vs. Flat No.201, Block No.37, Race Estate", 2nd Floor, M.G. Road, Course Park, Rajkot Rajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) आ.(खो और ज). सं./IT(SS)A Nos.1 25-130/RJT/20 17 ( नधारणवष / Assessment Years: (2007-08 to 20 12 -13) Karim K. Makhani Assistant Commissioner of Income C/o SADP & Co. Chart ered Vs. Tax, Central Circle-1, 2nd Floor, Accountants, BB House, 5- Amruta Estate, Room No.215, M.G Collegewadi, Near Kathiyawad Road, Rajkot-360001 Gymkhana, R ajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) आयकर अपील सं./ITA Nos.210 -213/RJT/2018 ( नधारण वष /Assessm ent Years: (2 008-09 to 20 09 -10, 2011-12 & 2013-14) Deputy Commissioner of Income Karim K. Makhani Tax, Central Circle-1, "Amruta Vs. 37/301, Race Course Park, Airport Estate", 2nd Floor, M.G. Road, Road, Rajkot Rajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) IT(SS)A Nos.103-108/Rjt/2017, 125-130/Rjt/2017 & ITA Nos.210-

IN THE INCOME TAX APPELLATE TRIBUNAL, RAJKOT BENCH, RAJKOT BEFORE DR. ARJUN LAL SAINI, ACCOUNTANT MEMBER AND SHRI DINESH MOHAN SINHA, JUDICIAL MEMBER आ.(खो और ज).सं./IT(SS)A Nos.103 -108/RJT/20 17 ( नधारण वष /Assessment Years: (2007-08 to 20 12 -13) Deputy Commissioner of Income Karim K. Makhani Tax, Central Circle-1, "Amruta Vs. Flat No.201, Block No.37, Race Estate", 2nd Floor, M.G. Road, Course Park, Rajkot Rajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) आ.(खो और ज). सं./IT(SS)A Nos.1 25-130/RJT/20 17 ( नधारणवष / Assessment Years: (2007-08 to 20 12 -13) Karim K. Makhani Assistant Commissioner of Income C/o SADP & Co. Chart ered Vs. Tax, Central Circle-1, 2nd Floor, Accountants, BB House, 5- Amruta Estate, Room No.215, M.G Collegewadi, Near Kathiyawad Road, Rajkot-360001 Gymkhana, R ajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) आयकर अपील सं./ITA Nos.210 -213/RJT/2018 ( नधारण वष /Assessm ent Years: (2 008-09 to 20 09 -10, 2011-12 & 2013-14) Deputy Commissioner of Income Karim K. Makhani Tax, Central Circle-1, "Amruta Vs. 37/301, Race Course Park, Airport Estate", 2nd Floor, M.G. Road, Road, Rajkot Rajkot-360001 थायीले खासं . /जीआइआरसं . /P AN/GIR No.: AMBPM 6370 J (अपीलाथ /Assessee) ( यथ /Respondent) IT(SS)A Nos.103-108/Rjt/2017, 125-130/Rjt/2017 & ITA Nos.210-

These cross appeals are filed by the Assessee and the Revenue as against separate appellate orders both dated I.T.A No. 198 & 199/Ahd/2023 & Ors. A.Ys. 2016-17 & 2017-18 Page No 2 Suzlon Engergy Ltd. vs. DCIT 28.02.2023 passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, (in short referred to as "CIT(A)"), arising out of the separate assessment orders passed under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') relating to the Assessment Years 2016-17 and 2017-18. Since common issues are involved in both the years namely disallowance u/s.14A rwr 8D and Depreciation on Goodwill, the same are disposed of by this common order for the sake of convenience. Asst. year 2016-17 is taken as the lead case.

These cross appeals are filed by the Assessee and the Revenue as against separate appellate orders both dated I.T.A No. 198 & 199/Ahd/2023 & Ors. A.Ys. 2016-17 & 2017-18 Page No 2 Suzlon Engergy Ltd. vs. DCIT 28.02.2023 passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, (in short referred to as "CIT(A)"), arising out of the separate assessment orders passed under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') relating to the Assessment Years 2016-17 and 2017-18. Since common issues are involved in both the years namely disallowance u/s.14A rwr 8D and Depreciation on Goodwill, the same are disposed of by this common order for the sake of convenience. Asst. year 2016-17 is taken as the lead case.

These cross appeals are filed by the Assessee and the Revenue as against separate appellate orders both dated I.T.A No. 198 & 199/Ahd/2023 & Ors. A.Ys. 2016-17 & 2017-18 Page No 2 Suzlon Engergy Ltd. vs. DCIT 28.02.2023 passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, (in short referred to as "CIT(A)"), arising out of the separate assessment orders passed under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') relating to the Assessment Years 2016-17 and 2017-18. Since common issues are involved in both the years namely disallowance u/s.14A rwr 8D and Depreciation on Goodwill, the same are disposed of by this common order for the sake of convenience. Asst. year 2016-17 is taken as the lead case.

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