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Income Tax : The Income-tax Bill, 2025 has been tabled in Parliament on 13th February 2025, marking a significant step toward simplifying the l...
Income Tax : Overview of key income tax changes for non-residents, charitable trusts, and individuals, including SEP rules, fund management, an...
Income Tax : Budget 2025 focuses on economic growth, tax reforms, and infrastructure. Key changes include new tax rates, financial sector refor...
Income Tax : Explore tax benefits available for parents under the Income Tax Act, including education, health insurance, and deductions for med...
Income Tax : Understand tax rules for debt mutual funds based on purchase date. Learn about slab rates, LTCG tax, indexation, and rebate eligib...
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 : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...
Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...
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 ITAT Jaipur decision in Mujmmeel Vs ACIT, examining Section 263 order invoking unexplained investments and its implica...
Income Tax : ITAT Chandigarh rules against penalty on estimated income in AKM Resorts vs ACIT, reinforcing that additions based on estimation d...
Income Tax : Supreme Court reaffirms that charitable trust registration under Section 12AA of the Income Tax Act should be based on proposed ac...
Income Tax : ITAT Pune dismisses Indrayani Seva Samiti's appeal due to an unexplained 8-year delay, citing lack of sufficient cause and uphold...
Income Tax : ITAT Bangalore held that addition under section 69A towards cash deposits during demonetization deleted since cash deposit was mad...
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...
TAT Mumbai held that the addition of Rs. 3.05 crore u/s 69A of the Income Tax Act was based on suspicion, ruling it as impermissible without proper inquiry.
Kerala High Court held that revision proceedings under section 263 of the Income Tax Act righty invoked as claim was accepted by assessing officer without any enquiry. Accordingly, jurisdiction rightly invoked.
ITO Vs Shivsahyadri Sahakari Pathpedhi (ITAT Mumbai) – Credit co-operative society investments in co-operative bank claimed as allowable u/s. 80P(2) because co-operative banks are also registered under co-operative society
Finance Ministry designates key Income Tax Dept. IT systems as protected under the IT Act. Learn about restricted access and authorized personnel.
ITAT deletes addition of Rs. 48.48 lakh for penny stock investment, ruling that no concrete evidence was presented by the Income Tax authorities.
ITAT Ahmedabad held that services do not qualify as Fee for Technical Services [FTS] under India-Netherlands tax treaty since department failed to demonstrate that technology was ‘make available’ to recipient of services.
ITAT remits the case of Rahul Kumar Singh to the AO after the assessee’s failure to respond to notices, directing the inclusion of new evidence submitted by the appellant.
Assessee was entitled for exemption under section 10(10B) for Voluntary Retirement Scheme (VRS) compensation on whole of the amount received citing that the Central-Government approved schemes that benefited Employees.
AO had raised queries on two issues i.e. (i) assessee claimed only 15% depreciation on the Higher Efficiency Boilers (being energy saving device), when it was eligible for depreciation allowance of 80% on the Written Down Value (WDV).
Every deposit in the bank account cannot always be an income. Therefore, condition of deposit of advance tax could not be imposed blindly without considering contention of assessee that his income was below the taxable limit.
