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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...
Allahabad HC hears Jai Shree Traders’ GST dispute with UP authorities, orders release of detained goods on bank guarantee, and schedules further proceedings for January 2025.
ITAT Mumbai quashes income tax assessment for AY 2017-18 due to lack of higher authority approval under Section 151 for reopening beyond three years.
ITAT Ahmedabad allows appeal by Digamber Jain Trust, questioning rectification order on unexplained cash deposits for AY 2016-17, due to pending original assessment.
No requirement to prove the irrecoverability of a debt; it suffices if the debt is written off in the books of accounts: ITAT Ahmedabad in Ishan Equipments Pvt Ltd Vs DCIT
ITAT Mumbai quashes PCIT’s Section 263 revision order, ruling AO had duly examined filing fee expenditure for share capital increase in original assessment, thus no error.
ITAT Jaipur upheld CIT(A)’s decision to delete bogus purchase additions, validating a 13.05% profit rate declared by the assessee in the case.
ITAT Ahmedabad excused non-compliance due to CA’s failure, remanding the case for verification of additional evidence related to cash deposits and investments.
ITAT Mumbai rules that shares bought off-market and later sold on stock exchanges with proof of genuine transactions cannot be treated as unexplained income.
Gujarat High Court rules that income tax recovery proceedings cannot proceed while appeals are pending before the CIT(A), impacting numerous taxpayers.
Bombay HC rules in favor of Kusharaj Bhandary, nullifying an assessment and penalty order due to TDS credit error. Outcome highlights rectification rights.
