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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...
The present appeal is preferred by the revenue. The only issue in this appeal of the Revenue is against the order of CIT(A) deleting addition made by the AO towards unexplained expenditure u/s.69C of the Act in respect of trade payable settled outside books of accounts.
The controversy in the present appeal relates to inclusion of an entity named E4e Healthcare Business Services Private Limited, as a comparable entity for benchmarking the international transaction of provision of IT-enabled services.
Putting together a structure of plywood sheets cannot be construed as constructing a residential house. The Inspector had also reported that there was no electricity or water connection on the land and electricity was used by genset.
Notification No. 124/2024 revises Income Tax Rules, introducing safe harbour provisions for foreign companies selling raw diamonds, effective April 1, 2024.
Learn about the taxation of undisclosed foreign income & assets under the Black Money Act, 2015, including penalties and legal provisions.
Kerala HC rules minor tax payment shortfalls under the Direct Tax Vivad Se Vishwas Scheme can be remedied, ensuring benefits aren’t denied for procedural errors.
CIT(A) partly allowed the appeal and directed the AO to re-compute the “Income From Other Sources” after deducting the amount of Rs 24,25,426/-u/s 57(iii) of the Act. Being aggrieved, the present appeal is filed.
ITAT Mumbai held that Goods and Services Tax (GST) amount while computing presumptive income under section 44B of the Income Tax Act cannot be included. Thus, issue decided in favour of assessee.
Appellant has preferred the present appeal. The solitary issue that is raised is whether CIT(A) is justified in confirming the addition of Rs.35,13,000/- as unexplained money by invoking the provisions of section 69A of the Act.
ITAT Mumbai deleted additions made under section 43CA of the Income Tax Act by considering the stamp duty value on the date of registration of agreement as prescribed under section 43CA(3) of the Income Tax Act.
