Section 87A tax rebate on STCG led to disputes after ITD software changes. Bombay HC & CIT(A) rulings clarify eligibility. Learn about legal and tax implications.
Bombay High Court, in Chamber of Tax Consultants v. Director General of Income Tax (Systems) (2025), ruled that flaws in the ITR utility should not prevent taxpayers from making valid claims, particularly rebate under Section 87A of Income Tax Act.
Bombay HC allows refund of ₹78.65 lakhs in stamp duty, despite delay in filing. Court prioritizes substantive justice over technical lapses in cancellation case.
Understand tax audit requirements under Section 44AB for AY 2024-25. Detailed analysis for businesses and professionals, including turnover and presumptive taxation rules.
Explore the Prevention of Money Laundering Act (PMLA) in India, ED powers, and significant Supreme Court rulings impacting anti-money laundering efforts.
Understand the Hindu Succession Act’s rules of inheritance for coparcenary property, including amendments for daughters’ rights. Learn how property is distributed among Class I and Class II heirs, agnates, and cognates.
Explore the new manufacturing norms (NMN) in India aimed at boosting SME growth. Learn about eligibility criteria, investment thresholds, and benefits for small and medium enterprises.
Explore the implications of GST on contributions to housing societies. Learn about exemptions, liability on corpus funds, and taxation on common area electricity charges.
Explore the impact of Income Tax Sections 269SS, 269ST, 269SU, and 269T on transactions via Journal/Book Entries. Learn about legislative framework, judicial interpretations, and penalties.
Explore ITAT Mumbai’s order on sundry creditors from bogus purchases. Learn about tax implications, sections 68 and 41(1), and the importance of accepted transactions.
