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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 : 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...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
ITAT Mumbai allows the claim of deduction u/s. 80JJAA for the assessment year 2020-21, as the taxpayer had filed the original return of income on time. The claim was initially denied due to an error in categorizing the revised return as an original return.
Explore the ITAT Delhi’s ruling on a case, ITO Vs Logix Buildcon Pvt Ltd, asserting that the interest incurred towards project expenses cannot be deducted.
Section 11, deals with taxation of income from property held for charitable or religious purposes. This article aims to provide a detailed analysis of Section 11, including its provisions, scope, exclusions, and implications.
रेसजुडिकाटा और आयकर अधिनियम, 1961:– “रेसजुडिकाटा का तर्क यह है कि मुकदमेबाजी का अंत होना चाहिए। मूल रूप से, पुनर्न्याय के सिद्धांत का उद्देश्य अपमानजनक और दोहरावपूर्ण मुकदमेबाजी को रोककर, जनता और वादियों दोनों के हित में न्याय के अच्छे प्रशासन का समर्थन करना है। सीआईटी बनाम में एन.पी. मैथ्यू [(2006)280 आईटीआर 44(के.आर.)] यह प्रिंसिपल […]
In a significant ruling, ITAT Ahmedabad relieves an assessee from penalties due to accountant’s mistake. Full review of Dharmendrakumar B Mehta Vs ITO case here.
ITAT Jaipur held that the difference in the closing stock is emanating from the difference in the working for the preceding years and that such difference cannot be attributed for the year under consideration. Accordingly, order not erroneous and jurisdiction of section 263 not invocable.
Explore ITAT Raipur’s verdict on tax collection by District Mining Officer (DMO). Understand the implications of not collecting tax at source (TCS) on compounding fees from illegal miners/transporters. Analysis of Section 206C(1C) and obligations under the Income Tax Act.
Discover the impact of India’s ‘angel tax’ modification on startup investments. Analyze arguments for and against the change and explore suggestions for improvement. Learn about enhanced oversight measures and potential effects on reverse flipping.
ITAT Ahmedabad held that transfer pricing adjustment should be restricted only in respect of turnover of assessee-company relating to international transactions. In nut-shell, transfer pricing addition should be restricted only qua international transaction and not entity level transactions.
Read the detailed analysis of ITAT Mumbai’s decision on DCIT Vs ICICI Bank Ltd., addressing disallowance of exempt income, inordinate delay, and the crucial role of interest-free funds.
