Bombay High Court quashes CBDT order denying delay condonation for Bharat Education Society, citing procedural lapses and lack of personal hearing.
Bombay HC ruled on Anandkumar Dhanraj Rathod’s tax case, addressing natural justice claims and directing him to appeal the assessment order under IT Act.
The Finance Bill 2025 proposes 11 significant amendments to GST provisions, addressing anomalies and introducing new mechanisms. Effective April 2025, input tax credit (ITC) distribution by input service distributors (ISD) now explicitly includes IGST for reverse charge transactions, correcting prior limitations. A clarification on the definition of “local authority” expands the scope to include funds […]
Understand how to compute total income and tax liability under the Income Tax Act, including adjustments for business, capital gains, and other income.
Learn about income tax filing requirements for proprietors in the USA, including forms, schedules, deductions, deadlines, and penalties for non-compliance.
Understand the changes to the Cost Inflation Index for FY 2024-25, including indexation removal on long-term capital gains and new tax rules for assets post-July 23, 2024.
ITAT Chennai dismisses FLsmidth’s appeal, upholding PCIT’s order for reassessment due to lack of verification by AO.
Bombay HC quashes order by Additional CIT, emphasizing CBDT or its members must explicitly issue orders under Section 119(2)(b) of the Income Tax Act.
ITAT Mumbai upholds addition under Section 68 of ₹4.89 Cr. Vijay Maneklal Bhansali’s appeal dismissed, citing lack of evidence on commodity transactions.
ITAT Chennai sends ₹42.72 lakh cash deposit case back to AO for fresh assessment after assessee fails to justify deposits made during demonetization.
