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Income Tax : The Finance Act (No. 2), 2024, has brought a significant change by imposing a time limit on TDS correction statements. Until now, ...
Income Tax : Budget 2025 highlights income tax changes, revised tax slabs, TDS amendments, IFSC incentives, updated return filing limits, and d...
Income Tax : The Income Tax Bill 2025, set to replace the 1961 Act, redefines the role of Chartered Accountants in tax compliance and represent...
Income Tax : Explore the key takeaways of the New Income Tax Bill 2025, including structural changes, simplified provisions, and updates in tax...
Income Tax : New Income Tax Bill 2025, replacing the 1961 act, focuses on simplification and clarity. Learn about the key changes and retained...
Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
Income Tax : Income-Tax Bill 2025 simplifies tax laws by reducing sections, chapters, and words while ensuring no policy or tax rate changes. K...
Income Tax : Explore the section mapping of the New Income-Tax Bill 2025, comparing provisions with the Income-Tax Act, 1961. See key changes, ...
Income Tax : Analysis of income tax return filings in India over five years, including trends, zero-tax cases, and government initiatives to en...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
Income Tax : Supreme Court rules on penalty under Section 271E of the Income Tax Act in CIT vs. Jai Laxmi Rice Mills. Find out how assessment o...
Income Tax : Visakhapatnam ITAT allowed a Section 54F capital gains exemption, even though the assessee didn't deposit the sale proceeds in a s...
Income Tax : Bombay High Court holds that Section 50C of the Income Tax Act does not apply to tenancy right transfers, dismissing the Revenueâ€...
Income Tax : ITAT Mumbai rules that Section 50C of the Income Tax Act does not apply to tenancy right transfers, dismissing the Revenue’s app...
Income Tax : ITAT Nagpur overturns CIT(A) order, allowing deduction under Section 80P for a cooperative society. The tribunal rules AO's disall...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
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...
ITAT Agra held that evidences with regard to deposit of income tax deducted at source (TDS) filed for the first time before ITAT hence appeal allowed with direction to AO to verify the documents.
In the matter abovementioned ITAT Pune after relying upon the decision of jurisdictional HC held that assessee was eligible for deduction u/sec.80P(2)(a) (i) on the Interest earned by assessee.
ITAT Chennai held that payments are in the nature of selling commission to foreign agents who is not having permanent establishment or business connection in India is not taxable in India and accordingly, TDS u/s. 195 not deductible.
ITAT Chandigarh deletes ₹32 lakh addition against Pawan International, ruling cash deposits from opening stock sales cannot be treated as unexplained income.
ITAT Chennai remands ₹36.5 lakh unexplained loans case for reconsideration after assessee fails to provide sufficient evidence of creditors’ financial capacity.
ITAT Ahmedabad held that non-compliance to notices issued u/s. 250 by CIT(A) resulted into delayed appellate proceedings. Accordingly, cost of Rs. 5,000 imposed on the assessee for lack of diligence.
The ITAT Mumbai dismissed the Revenue’s plea on Section 14A disallowance, ruling that the amendment introduced in Finance Act 2022 is not retrospective.
Bombay High Court dismissed PCIT’s appeal in Pravin U. Parmar’s case, upholding ITAT’s 7% gross profit addition on alleged bogus purchases due to lack of evidence.
Analysis of the Bombay High Court ruling on reopening income tax assessments for Aroni Commercials Ltd. under Section 148 of the IT Act, 1961.
The Bombay High Court ruled that reopening assessments under Section 148 based on audit objections without independent reasoning is invalid. Learn more about the case.
