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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 : 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 : 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 : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....
Income Tax : ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do...
Income Tax : Telangana HC upholds tax addition under Section 69A, ruling that the assessee’s land was not under cultivation, rejecting agricu...
Income Tax : Supreme Court confirms that Section 153C notices issued without a valid satisfaction note are invalid, aligning with the Delhi Hig...
Income Tax : Delhi High Court rules on Section 153C notices for AYs 2014-15 to 2020-21 in Dev Technofab Limited Vs DCIT, citing lack of incrimi...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
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...
R.P. Polypacks Pvt. Limited Vs DCIT (ITAT Kolkata) In brief, the issue according to the ld. Commissioner is that the assessee had made provision of Excise Duty, which was not an allowable expenditure and ld. Assessing Officer has erred in accepting this claim of the assessee in an assessment order passed under section 143(3) of […]
Dinesh Babu Saxena Vs ITO (ITAT Delhi) As against the penalty order dated 30/09/2016, the assessee has preferred the Appeal before the CIT(A) with a delay of more than 12 months. It is the specific case of the assessee before the CIT(A) that the assessee has not received any notice u/s 271(1)(c) or the order […]
Euro Diamonds Pvt. Ltd. Vs ITO (ITAT Mumbai) We noticed that the assessing officer has made the impugned addition on the basis of generalised information given by investigation wing that M/s Bhanwarlal Jain group is engaged in the business of providing accommodation sales bills without actually supplying the goods. There is no material on record […]
Vikrant Anthony Joseph Vs ITO (Gujarat High Court) Law is well settled that unless the heirs and legal representatives of the deceased assessee could be said to have been submitted to the jurisdiction of the assessing officer and have participated in the assessment or re-assessment proceedings, notice to the dead assessee and commencement of assessment […]
PCIT Vs Delhi International Airport Pvt. Ltd. (Delhi High Court) present case is covered by the Division Bench judgment in Cheminvest Ltd. vs. CIT, [2015] 61 com 118 (Delhi), wherein this Court has held that the expression ‘does not form part of the total income’ in Section 14A of the Act means that there should […]
Whether ITAT erred in law in deleting addition as Income from Other Sources and holding it eligible for calculation of deduction under Sections 10A and 10B of Income Tax Act, 1961?
ITAT Pune remands to CIT(A) for discrepancy issue in Sanjay Dayal vs ITO. Assessee’s appeal partly allowed for statistical purposes.
Vishnunarayan R. Modani Vs CIT (A) (ITAT Mumbai) Assessee has not furnished any material to show that the share transactions entered by him are genuine transactions. Accordingly, I am of the view that the Assessing Officer was justified in treating the capital gain of Rs.136,812/- and Rs.150,575/- as income under the head ‘income from other […]
PCIT Vs IFFCO LTD (Delhi High Court) In view of Section 14A(1), no deduction is to be allowed in respect of expenditure incurred by the assessee in relation to income which does not form part of the total income under the As per Section 2(45) of the Act, ‘total income’ means the total amount of […]
Nagesh Trading CO. Vs ITO (Delhi High Court) Directions given by the Supreme Court in Ashish Agarwal (supra) were applicable to cases, where notices under Section 148 of the Act had been issued during the period 01st April, 2021 to 30th June, 2021 – which is not the case in the present matter. Consequently, the […]
