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Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...
Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : ITAT Pune rules that late filing of Form 67 does not bar foreign tax credit under Section 90. Read about the case of Shashank Sada...
Income Tax : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...
Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...
Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...
Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...
Umeshkuamr Harilal Shah Vs ITO (TDS) (ITAT Ahmedabad) It is undisputed fact that the assessee is not a manufacturer and the scrap which was sold by the assessee was not from the manufacturing activity. The decision of the Special Bench in case of Bharti Auto Product (supra) was observed that scrap means wasted which is […]
ITO Vs Logix Buildtech Private Limited (ITAT Delhi) ITAT held that Penal interest arises out of default in payment of installment / lease rent as per the schedule agreed and the normal interest along with penal interest compounded half yearly was agreed to be paid on the default amount and for the default period as […]
ITAT Chennai held that the VAT payment would not attract the provisions of section 40(a)(iib) of the Income Tax Act and hence, is allowable u/s.37 read with section 43B of the Act
ITAT Lucknow held that statement recorded u/s 133A of the Income Tax Act is not an incriminating material for the purpose of making search assessment u/s 153A.
ITAT Chennai held that deduction under section 10A of the Income Tax Act should be computed after excluding unrealized sale proceeds from export turnover as well as total turnover.
Commissioner of Central Excise Customs And Service Tax Mysore Vs Such Silk International Ltd. (Supreme Court of India) High Court has dismissed the appeal filed by the Department under Section 130 of the Customs Act as not maintainable by observing that as the dispute can be said to be a dispute with respect to valuation […]
SC held that that on non-convertible debentures and fixed deposit of the value less than Rs.5,000/-, there shall not be any TDS leviable.
ITAT Mumbai held that assessee is entitled to claim benefit of Article 13(4) of DTAA in respect of entire current year Short/Long Term Capital Gains, without setting of the Brought Forward Short/Long Term Capital Gains.
When additional evidence entertained by the CIT(A) has not been brought on record in accordance with Rule 46A subsequent findings on the same are vitiated because there is not even a whisper of remand report admittedly submitted in this case by the AO.
Code modifications carried out by the stock broker should not affect the claim of the assessee unless it is proved that the assessee has colluded with the stock broker in carrying out the modification
