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Income Tax : The Finance Act (No. 2), 2024, has brought a significant change by imposing a time limit on TDS correction statements. Until now, ...
Income Tax : Budget 2025 highlights income tax changes, revised tax slabs, TDS amendments, IFSC incentives, updated return filing limits, and d...
Income Tax : The Income Tax Bill 2025, set to replace the 1961 Act, redefines the role of Chartered Accountants in tax compliance and represent...
Income Tax : Explore the key takeaways of the New Income Tax Bill 2025, including structural changes, simplified provisions, and updates in tax...
Income Tax : New Income Tax Bill 2025, replacing the 1961 act, focuses on simplification and clarity. Learn about the key changes and retained...
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 section mapping of the New Income-Tax Bill 2025, comparing provisions with the Income-Tax Act, 1961. See key changes, ...
Income Tax : Analysis of income tax return filings in India over five years, including trends, zero-tax cases, and government initiatives to en...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
Income Tax : ITAT Mumbai remands Rotary Charity Trust’s 80G approval case due to an inadvertent section error in Form 10AB. Matter sent back ...
Income Tax : ITAT Ranchi permits Gajanand Bhalotia to withdraw appeal as he opts for the Vivad se Vishwas Scheme, with an option for restoratio...
Income Tax : ITAT Chennai overturns AO's Rs.53.02 lakh addition to J.K. Jewel Craft’s income, ruling that suspicion alone cannot justify unex...
Income Tax : Delhi High Court clarifies Nokia India’s tax reassessment after a notice was issued in the name of a non-existent company, align...
Income Tax : Supreme Court rules on penalty under Section 271E of the Income Tax Act in CIT vs. Jai Laxmi Rice Mills. Find out how assessment o...
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...
ITAT Delhi rules only actual income from bogus sales/purchases can be taxed. Disallows additions exceeding declared income. Key insights into tax assessment process.
Government specifies IFSC units exempt from tax collection under Section 206C(1H) for eligible purchases. Details outlined for buyers and sellers.
Before ITAT, it was submitted that it is impossible for the assessee to mention new registration number in ITR-7 as it was filed on 13.03.2022 and the same was obtained on 04.04.2022 after filing of ITR-7.
Assessee filed return for AY 2013-14 declaring Nil income. The case of the assessee was reopened based on information received from investigation unit that the assessee is one of the beneficiaries of accommodation entries and bogus LTCG.
In the case abovementioned ITAT remanded the matter to CIT (A) after observing that delay of 32 days was explained satisfactorily. Assessee was salaried employee and not used to the proceedings of income-tax litigation.
ITAT considered two issues on this aspect. Firstly, whether PCIT rightly exercised its revisional jurisdiction and secondly whether order u/s 263 was passed on merits regarding to the net foreign exchange gain.
The Delhi High Court rejects the regularization plea of Kanchanjunga building employees, upholding the Industrial Tribunal’s decision on employer-employee relationship.
During the pendency of assessment proceedings assessee died and notice u/s. 142(1) dated 12.03.2022 has been issued to legal heir/representative of the assessee as per provisions u/s. 159.
Mechanical approval under Section 153D invalidates assessment orders, per ITAT Delhi in Kavita Jain vs DCIT. Analysis of procedural lapses and judicial precedents.
Madhya Pradesh High Court directs refund with interest to Birla Corporation Limited, ruling on delays in tax refunds and TRACES Portal issues.
