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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 : 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 : 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 : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....
Income Tax : ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do...
Income Tax : Telangana HC upholds tax addition under Section 69A, ruling that the assessee’s land was not under cultivation, rejecting agricu...
Income Tax : Supreme Court confirms that Section 153C notices issued without a valid satisfaction note are invalid, aligning with the Delhi Hig...
Income Tax : Delhi High Court rules on Section 153C notices for AYs 2014-15 to 2020-21 in Dev Technofab Limited Vs DCIT, citing lack of incrimi...
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...
Land sold by assessee was agricultural Land and did not qualify as capital asset in terms of Section 2(14)(iii) as it was subsequent to purchase of land, its use was changed to non-agriculture purpose, therefore, the capital gain earned on the piece of land as not being liable to tax.
Read about the ITAT Mumbai’s decision in the case of Sanghamitra Prakash Patel vs. ITO where a penalty was imposed on the assessee for failure to appear before the CIT(A).
Madras High Court quashes a cheque dishonour case, ruling an illegal claim cannot be construed as legal. Detailed analysis of Davidraj Vs V. Pavel’s case
Hindu Undivided Family (HUF) under Income Tax Act, its formation, advantages, and disadvantages. Understand difference between coparceners and members.
Read Madras High Court’s judgment in case of Ramasamy Rajkumar vs. PCIT regarding a deposit reduction to Rs.10 Lakh in a tax appeal. Get insights into decision.
ITAT Ahmedabad rules on the treatment of cash receipts from sale of gold/gold ornaments in case of Abhishek Prakashchand Chhajed Vs ITO.
ITAT Chennai held that the termination of the call option merely relinquishes the right of to buy shares, however, there is no element of non-compete obligation inherent in the agreement and hence provisions of Section 28(va) of the Income Tax Act cannot be triggered.
ITAT Raipur held that AO having jurisdiction over the case passed the order u/s 143(3) of the Income Tax Act without issuing notice u/s 143(2). Accordingly, the matter quashed for want of valid assumption of jurisdiction as notice u/s 143(2) was issued by non-jurisdictional AO.
ITAT Ahmedabad held that gratuity premium paid to LIC was to be treated as business expenditure and the same is allowable under section 37(1) of the Income Tax Act.
Jharkhand High Court held that TCS is not to be collected in the transaction of purchase of coal which is used in generation of power. Accordingly, illegal sum collected as TCS is ordered to be refunded back with interest.
