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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 : 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 : 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 : ITAT Pune rules that late filing of Form 67 does not bar foreign tax credit under Section 90. Read about the case of Shashank Sada...
Income Tax : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...
Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...
Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...
Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...
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...
ITAT Delhi held that amount received towards service rendered by the assessee is in connection with installation/erection of plant and machinery involved in mining of natural resources fall within the exceptions provided under Article 12(5)(f) and 12(5)(g) of India – Portugal DTAA and hence not taxable.
ITAT Hyderabad held that interest payment on late payment of TDS is not compensatory in nature and is not allowable as deduction u/s 37(1) of the Income Tax Act.
Held that prior to 1-4- 2024 there was no bar on assessee claiming exemption under section 10 (23EC) and under section 11 and 12 of the act. Accordingly, contribution received from commodity exchange and members thereof is exempt u/s 10(23EC) of the Income Tax Act.
Read Notification No. 87/2023-Income Tax dated 6th October, 2023, granting exemption to Dental Council of India from specified income under Income-tax Act, 1961
Bombay High Court held that re-opening of assessment under section 148 of the Income Tax Act, without indicating basis for having a reason to belief that income has escaped assessment, merely based on change of opinion is unsustainable in law and liable to be quashed.
ITAT Kolkata remanded the matter back to CIT(A) as relief was granted to the assessee on the basis of various submissions which were for the first time furnished before CIT(A) and CIT(A) prior to granting relief didn’t conduct any enquiry on the same.
ITAT Raipur held that assessee-society not being wholly and substantially financed by the government is not entitled for claiming exemption under Section 10(23C)(iiiab) of the Income Tax Act, 1961.
In ACIT Vs Sanjay Kumath case, ITAT Indore ruled on Section 54F deduction eligibility based on period of holding of a flat from date of allotment letter. Learn about detailed analysis and conclusion of this case.
In Sanjeev Lal vs CIT case, the Supreme Court of India ruled on capital gains and Section 54 exemption. Learn about judgment and its implications
Explore Delhi High Court’s judgment on disallowance under Section 14A of Income Tax Act, 1961, in case of Punjab National Bank (Erstwhile United Bank of India)
