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Income Tax : Explore how MNCs used the Double Irish & Dutch Sandwich strategy to avoid taxes and the global efforts made to close these loophol...
Income Tax : The 2025 amendment in Section 143(1) of the Income Tax Act introduces new compliance requirements. Taxpayers must ensure consisten...
Income Tax : To give relief to small taxpayers from tedious job of maintaining of books of account and getting accounts audited, Income-tax Act...
Income Tax : Understand income tax rebate u/s 87A and LTCG tax u/s 112A under the new tax regime for FY 2024-25 with calculation rules, limits,...
Income Tax : Tax loss harvesting is a tax planning strategy that allows taxpayers, especially investors, to lower their capital gains tax liabi...
Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...
Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...
Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : Bombay High Court declines to quash reassessment notice against Sanjay Patel, citing incomplete information and liberty to appeal....
Income Tax : Gujarat High Court quashes Income Tax notice u/s 148 and order u/s 148A(d) against Ammann India, citing non-consideration of ITAT ...
Income Tax : ITAT Delhi quashes assessment orders against Splendor Landbase and its director, faulting the JCIT's mechanical approval under Sec...
Income Tax : ITAT Delhi dismisses Ankush Garg's appeal, upholding CIT's order for fresh assessment due to lack of inquiry on cash deposits....
Income Tax : ITAT Delhi cancels reassessment in Jagbir Singh's case due to invalid approval under Section 151. Legal jurisdiction under Section...
Income Tax : ITAT Chandigarh held that ITO Ward-3(1), Chandigarh had no jurisdiction to issue notice to an NRI and hence consequently the asses...
Income Tax : CBDT introduces ITR-B for search and seizure cases under section 158BC of the Income Tax Act, effective from 1st September 2024....
Income Tax : CBDT sets 30 April 2025 as the last date to file declarations under the Direct Tax Vivad se Vishwas Scheme, 2024....
Income Tax : HUDCO bonds issued after April 1, 2025, notified as long-term assets under Section 54EC for capital gains exemption, usable for in...
Income Tax : CBDT grants tax exemption to Prayagraj Mela Pradhikaran under section 10(46A) of the Income-tax Act, effective from assessment yea...
Basics of International Taxation – 2020 (fourth edition) – (Earlier known as Aspects of International Taxation – A Study) International Taxation due to its dynamic and ever changing nature has always been a complex subject not only to study but to practice. Due to increase in cross border transactions, mergers and acquisitions, e-commerce, capital mobility […]
ICAI has released the 8th Edition (August 2020) of the Guidance Note on Report Under Section 92E of the Income Tax Act, 1961 (Transfer Pricing). This Guidance Note was last revised in November, 2019. The ICAI has revised Guidance note on Report under Section 92E of the Income Tax Act, 1961 (Transfer Pricing) based on […]
Representation on Widening the scope of Vivad Se Vishwas Scheme by permitting cases in which Prosecution proceedings has been initiated and the tax involved is within Rs. 5 Crore and also raising other practical issues and difficulty in uploading Form 1 where department has filed appeal or may file appeal.
Order of the PCIT cancelling the registration since inception, u/s 12AA(3) was legally not valid as no material was being referred by PCIT and its applicability to any of the provisions of Section 2(15) and/or Section 12AA(3) while revoking the registration.
Himalaya Drug Company Vs ACIT (ITAT Bangalore) We noticed that the assessee has exported finished goods to its AEs located in various Countries and the AEs have only marketed the goods. Since the finished goods exported by the assessee are drugs and beauty care items, the assessee was required to comply with the requirement of […]
Section 10(23FE)(b)(vi)- CBDT hereby specifies the sovereign wealth fund, namely, MIC Redwood 1 RSC Limited, Abu Dhabi, United Arab Emirates, as the specified person
Canvera Digital Technologies Pvt. Ltd Vs DCIT (ITAT Bangalore) From the details filed, Ld.AO observed that, assessee had computed the value as per DCF method and that there was nothing to suggest that DCF method was an appropriate method to value the shares. Ld.AO rejected DCF method adopted by assessee for the reasons that cash […]
IBBI had prepared and shared a panel of IPs with Adjudicating Authority (NCLT and DRT) in June 2020 which was applicable for appointment of IPs as IRPs, Liquidators, RPs and BTs, from July 1, 2020 to November 25, 2020. The aforesaid panel is expiring on November 25, 2020 and the Board has to submit fresh panel to Adjudicating Authority (NCLT and DRT) which would be applicable for appointment of IPs as IRPs, Liquidators, RPs and BTs, from November 26, 2020 to June 30, 2021.
Dell International Services India Pvt. Ltd. Vs JCIT (ITAT Bangalore) We find that before us, there are 3 grievances of the assessee. The first grievance is regarding assessee’s request for exclusion of comparable M/s. Comp-U-Learned Tech India Ltd. The second grievance is regarding assessee’s request for exclusion of CAT Technology Ltd. The third grievance of […]
Jalarani Jagruti Developers Pvt. Ltd. Vs DCIT (ITAT Mumbai) It is not in dispute that receipts in question have direct nexus with the business of the assessee and represent cash receipts against sale of shops and flats. is also not in dispute that the assessee follows project completion method of revenue recognition and that project […]
