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Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...
Income Tax : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...
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 : 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 Mumbai held that adjustment of disallowance of deduction u/s 80P(2)(d) is not permissible adjustment under section 143(1) of ...
Income Tax : ITAT Agra held that confirming penalty under section 271B of the Income Tax Act before finalization of quantum assessment is unjus...
Income Tax : ITAT Delhi held that provisions of section 68 or 69A of the Income Tax Act for cash deposit during demonetization period unjustifi...
Income Tax : Delhi High Court held that suo moto disallowance with bona fide yet mistaken belief that amount is liable to be offered for taxati...
Income Tax : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....
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...
An in-depth analysis of the ITAT Kolkata case where an auditor’s error resulted in incorrect disallowance sum under Section 43B of the Income Tax Act. The ITAT has directed a re-adjudication of the case.
An in-depth analysis of the case Parag Bhikhubhai Patel vs ITO, exploring implications of using passports to confirm US tax residency for NRIs under India-USA Tax Treaty
ITAT Visakhapatnam held that contributions received for charitable purpose cannot be treated as income u/s 2(24)(iia) of the Act and hence, the provision of section 2(15) do not apply to the corpus fund donations of a charitable institution.
ITAT Jaipur held that ex-parte order passed without considering and dealing with the submission of the assessee is a non-speaking order. Accordingly, matter remanded.
Gujarat High Court held that since the order passed by the Appellate Authority has attained finality and no demand is outstanding against the appellant, it is unjustified to withhold the seized gold. Accordingly, directed to release the remaining gold at the earlier.
An in-depth analysis of case between Blue Reservoir Business Services LLP and DCIT where ITAT Bangalore directed re-adjudication because assessee was not well-versed with ITBA
ITAT Mumbai held that the claim for deduction under section 80G of the Income Tax Act in respect of Corporate Social Responsibility (CSR) expenses cannot be denied.
The ITAT Cochin has upheld the penalty imposed on Paravur Service Cooperative Bank for its failure to furnish the audit report of its accounts audited by the Cooperative Department Auditor within the specified date under Section 44AB of the Income Tax Act.
The Delhi High Court has quashed an income tax notice in the case of Jagannath Haldar Through vs. PCIT. The court found that the Assessing Officer (AO) had not taken into account the petitioner’s reply while passing the order under Section 148A(d) of the Income Tax Act.
An ITAT ruling in the case of Bhartiya Shiksha Prachar Samiti vs DCIT highlights the application of Section 11 of the Income Tax Act and its implications for auditing requirements. Learn more about the details and impacts of this landmark case.
