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Income Tax : Explore the concept of agricultural income under Income Tax Act 1961, including definitions, exemptions, and conditions for income...
Income Tax : IT Dept scrutinizes political donations ₹5L+ for tax fraud. Learn about Section 80GGC/80GGB, penalties, and steps to ensure comp...
Income Tax : Why does tax evasion still thrive despite all the efforts to stop it? And more importantly, what can be done to fix it? This blog ...
Income Tax : Through tax laws on Virtual Digital Assets (VDAs) like cryptocurrencies and Non-Fungible Tokens (NFTs), India has initiated the pr...
Income Tax : Explore evolution of tax laws from ancient times to the modern era, highlighting key changes, global trends, and challenges shapin...
Income Tax : Comprehensive list of 30 banks available at the e-Filing Portal's e-Pay Tax service. Find out the new and migrated banks, along wi...
Income Tax : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...
Income Tax : ITAT Pune remands the appeal of Mula Parisar Serva Seva Sangh regarding TDS refund claim for 2018-19, citing past precedents....
Income Tax : ITAT Chennai sets aside CIT(E)’s rejection of 80G registration for SKNNSM Society, citing inadequate time for response. Case sen...
Income Tax : ITAT directed AO to verify Factory Premises rental income and compute taxability under section 57, allowing proportionate expense...
Income Tax : Delhi High Court directs NFAC to expedite pending appeals, expressing concern over prolonged delays in taxpayer cases, including a...
Income Tax : Delhi ITAT rules Section 56(2)(viib) of the IT Act does not apply to transactions between holding and subsidiary companies, quashi...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
Income Tax : Learn about high-risk CRIU/VRU case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA port...
Income Tax : Learn about suspected benami, undisclosed foreign assets, and TDS compliance cases assigned under Risk Management Strategy via the...
Income Tax : The IT Dept. has flagged high-risk non-filers for AY 2019-22 on the Insight Portal under RMS Cycle 5. Assessing Officers can revie...
Income Tax : Delhi Building and Other Construction Workers Welfare Board receives tax exemption on cess, fees, and interest income under Sectio...
CIT Vs. Nova Nordisk Pharma India Ltd. (HC of Karnataka)- We find that this is not simply a situation of a product manufactured to the specifications of the assessee, being sold to the assessee at the price fixed by the supplier but this is a situation where a product manufactured out of raw materials supplied by a foreign company who had direct interest in the assessee company so manufactured to the specification of the assessee company utilising the technical know-how supplied by it and also labelling the product with the brand name of the assessee and supplying the entire product only to the assessee company
ACIT Vs. M/s Sikka Papers Mills Ltd. (ITAT Delhi)- In this case the identity of the share holders has not been established in order to ascertain the genuineness of the transactions, Assessing Officer issued commission u/s. 131(d) to the departmental officers in Lucknow and Agra as well as and asked for information 133(6) of the Act directly from the share applicants. The letters issued by registered post to the aforesaid share applicant companies u/s. 133(6) remained unserved while the departmental officers found that no such companies existed at the given address.
CIT Vs. Software Consultants (Delhi High Court)- For exercise of power under Section 263 of the Act, it is mandatory that the order passed by the Assessing Officer should be erroneous and prejudicial to the interest of the Revenue. In the present case, the Assessing Officer did not make any addition for the reasons recorded at the time of issue of notice under Section 148 of the Act.
Mahindra Satyam today said it has received a provisional attachment order from the Income Tax Department attaching land and buildings of the company. The company had received a provisional attachment order dated January 30, 2012, from the Additional Commissioner of Income Tax (ACIT), Central Range — 3, Hyderabad attaching land and buildings of the company, it said in a filing to the BSE.
ORDER NO. 1/FT&TR/2012 [F.NO. 500/15/2011-FT&TR-I], dated 31-1-2012 -In exercise of powers conferred under section 144C of the Income-tax Act, 1961, and in supersession of earlier orders, the Board hereby constitutes the Dispute Resolution Panel (DRP) comprising of three Commissioners of Income-tax/Directors of Income-tax as Members of DRP at the places given below, who shall perform such duties in addition to their regular duties with immediate effect and until further order:
PTC India Ltd. Vs ACIT (ITAT Delhi)- This is the appeal filed by the assessee against the order dated 30.9.2011 of CIT(A)-XVII, New Delhi pertaining to A.Y. 2008-09. However at the time of hearing no one was present on behalf of the assessee nor any adjournment application was placed before the Bench. The date of hearing was intimated to the assessee on the date appeal was filed. Signatures of the person filing the appeal in the Registry are available on record as such the appeal was passed over twice.
Faced with a formidable task of collecting Rs 9.32 lakh crore taxes during the fiscal ending March 31, Finance Minister Pranab Mukherjee today said he is exerting pressure on revenue officials to improve realisation.
In Re WaveField Inseis ASA (AAR) When this Authority took the view in Monte Harris and other cases that the date of the filing of the application before the Authority should be the crucial date for determining the question of the applicability of clause (i) of the proviso to section 245R(2) of the Act and not the date when the application comes up for hearing either under section 245R(2) or under section 245R(4) of the Act,
Liquor baron Ponty Chadha today refuted reports that cash to the tune of Rs 100 crore has been seized from a mall owned by him in Noida near here during searches carried out by the Income Tax officials. In a statement, Wave Infratech owned by him said widespread rumours and wrong information have been circulated to tarnish the image of the group with ‘malafide intention’.
Laxman Das took over as the new chairman of the Central Board of Direct Taxes (CBDT) on Wednesday. The former chairman of the CBDT, M C Joshi, retired yesterday.
