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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...
As per provisions of section 153C of the Act, notice required to be issued to the other person would be a notice under section 153C of the Act, but even then assessment is to be framed in accordance with the procedure prescribed under section 153A of the Act.
ITAT Jaipur rules in favor of Deepak Kumar Samtani, dismissing penalty under Section 272A(1)(C) due to lack of evidence of non-compliance with issued notices.
Learn how CRS and FATCA enhance tax transparency, requiring foreign asset disclosure in India. Avoid penalties with complete, accurate income reporting.
ITAT Ahmedabad held that CIT(A) erred in upholding addition made by AO without considering the additional evidence. Such failure to admit and evaluate the additional evidence constitutes a violation of natural justice. Thus, matter remanded back for fresh adjudication.
ITAT Nagpur held that the addition made under section 69A of the Income Tax Act towards unexplained money is liable to be quashed since the nature and source of deposit is clearly established.
ITAT Vishakhapatnam held that addition u/s. 69 r.w.s. 115BBE of the Income Tax Act merely on the basis of excel sheet seized from third party without any independent enquiry and independent corroborative evidences is unsustainable in law.
ITAT Chennai held that corrigendum issued by AO to rectify the mistake made while issuing original assessment order is legal and valid. Accordingly, matter remanded back to CIT(A) for adjudication on merits.
ITAT Ahmedabad restored the matter back to the file of CIT(A) after imposing cost of Rs. 5,000 on the assessee for negligence in diligently prosecuting the appeal before CIT(A). It is directed that amount is to be deposited in the Prime Minister’s Relief Fund.
Delhi High Court held that re-assessment proceedings set aside as assessment in respect of the AY 2015-16 falls beyond the period of ten years as stipulated u/s. 149 read with Section 153C of the Income Tax Act.
Delhi HC ruled reassessment under Section 147 is not valid post-closure of Section 143 proceedings if income underassessment results from AO error, not assessee fault.
