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Income Tax : Let’s compare and contrast the Annual Information Statement (AIS), Taxpayer Information Summary (TIS), and Form 26AS with th...
Income Tax : Explore the worthiness of investing in NPS under Section 80CCD deduction for salary individuals/HUFs. Learn about tax benefits, re...
Income Tax : Delve into AIS, TIS, and Form 26AS to discern if they aid or perplex the taxpayer. Learn about their contents, differences, and th...
Income Tax : Explore the exemptions and deductions allowed under the new tax regime for FY 2023-24 (AY 2024-25). Learn about the options availa...
Income Tax : Explore Section 119(2)(b) of the Income Tax Act, allowing CBDT to condone delays in ITR filing due to genuine hardships. Learn pro...
Income Tax : Discover how the Income Tax Department's initiative to open filing on day one of the financial year streamlines processes, boosts ...
Income Tax : Ministry of Finance addresses misconceptions regarding CBDT's supposed special drive to reopen cases related to HRA claims, clarif...
Income Tax : CBDT has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial Year...
Income Tax : Stay updated with the latest notification from the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes regar...
Income Tax : Get clarity on the applicability of the new tax regime versus the old tax regime. Understand the differences and choose the regime...
Income Tax : Detailed analysis of Chandarani N. Goyal Vs ITO case where Mumbai ITAT ruled that money received as a security deposit, if refunde...
Income Tax : In Chandresh P. Thakker vs National Faceless Assessment Centre case, Mumbai ITAT allows commission expenses if supported by eviden...
Income Tax : Mumbai ITAT clarifies that action under section 153C can't be based solely on survey material. Detailed analysis of the case and i...
Income Tax : ITAT Mumbai overturns AO's addition of Rs. 80 Lakh against mere Rs. 50,000 share capital infusion, ruling in favor of taxpayer's p...
Income Tax : Learn about the ruling by ITAT Kolkata stating no deduction can be claimed if employees' contributions deducted from salaries were...
Income Tax : Notification No. 38/2024-Income Tax: Central Government approves Amul Research and Development Association for tax benefits under ...
Income Tax : Detailed guidelines from the Central Board of Direct Taxes for the interim action plan FY 2024-25. Learn about key result areas, t...
Income Tax : Explore detailed guidelines & procedures for verifying high-risk refund cases using Insights investigation tool. Learn how to navi...
Income Tax : Discover how jurisdictional assessing officers verify high-risk refund cases with Insight Instruction No. 77. Learn the SOP and st...
Income Tax : Discover how TDS charge officers verify high-risk refund cases using Insight Instruction No. 76. Learn about the SOP, steps, and f...
The ITAT Delhi orders a review of the Institute of Company Secretaries of India’s income tax exemption claim, sending the matter back for verification by the AO.
Delhi High Court dismisses Revenue’s appeal, ruling photocopy of sale agreement insufficient evidence for income addition. Analysis & judgment explained.
Country-by-Country Reporting (CbCR) is a crucial component of the transfer pricing documentation requirements introduced by the Organization for Economic Co-operation and Development (OECD) as part of the Base Erosion and Profit Shifting (BEPS) Action Plan.
Ahmedabad ITAT rules in favor of Mehsana Urban Co-op. Bank Ltd., stating AO’s incorrect calculation isn’t failure to disclose, thus invalidating assessment reopening beyond 4 years.
In the Indian tax system, deductions play a crucial role in reducing the taxable income of individuals. With the introduction of the new tax regime from April 1, 2023, there have been changes in the deductions allowed compared to the old tax regime.
In the case of SVT Wholesale Pvt. Ltd. Vs JCIT, the ITAT Bangalore evaluates the penalty imposed under Section 271D for violating Section 269SS of the Income Tax Act, 1961. Learn about the legal arguments, precedents, and the tribunal’s decision.
Read a detailed analysis of the case of DCIT vs. Flax Apparels Pvt. Ltd. where ITAT Ahmedabad ruled that Section 43B of the Income Tax Act, 1961 doesn’t apply when payment precedes the claim of expenditure.
Read the full text of the ITAT Chandigarh’s decision in the case of Manuj Jain HUF Vs PCIT. The assessment order was upheld, rejecting the Section 263 revision regarding demonetization cash deposits.
Ahmedabad ITAT ruled that vehicles used for business purposes, even if owned by directors, are eligible for depreciation. Case analysis of Mukesh Trends Lifestyle Limited Vs DCIT.
Chennai ITAT ruled that receiving a huge sale consideration in cash violates Sec 269SS, warranting penalty under Sec 271D. Case analysis of Nammalvar Lingusamy Vs ACIT.
