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Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
Income Tax : Understand how to compute total income and tax liability under the Income Tax Act, including adjustments for business, capital gai...
Income Tax : Learn about income tax filing requirements for proprietors in the USA, including forms, schedules, deductions, deadlines, and pena...
Income Tax : Understand the changes to the Cost Inflation Index for FY 2024-25, including indexation removal on long-term capital gains and new...
Income Tax : Learn how international transactions are taxed under India’s Income Tax Act, including DTAAs, transfer pricing, TDS provisions, ...
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 : Petitioner No.1 is a society registered under the Societies Registration Act of 1860 and the Bombay Public Trusts Act of 1950. It ...
Income Tax : ITAT Delhi held that the expenditure incurred on CSR activities may not have direct nexus with the activities of the assessee but ...
Income Tax : ITAT Mumbai held that sale of Dangerous Goods Regulations manuals could not be characterised as ‘royalty’ within the meaning o...
Income Tax : Orissa HC quashes criminal proceedings against Metaliks Ltd for delayed TDS deposit, citing financial distress and COVID-19 impact...
Income Tax : ITAT Hyderabad rules in favor of Karimnagar DCCB, granting immunity from penalty under Section 270AA. The appeal challenges tax pe...
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...
Income Tax : CBDT authorizes data sharing with the Dept. of Food & Public Distribution to identify beneficiaries under PMGKAY as per Income-tax...
Learn about the Income Tax Return (ITR) filing for Assessment Year (AY) 2023-24 in India. Understand the due date, process, and types of ITR forms.
Bombay High Court held that notice not setting out the material that provided the basis for assumption of jurisdiction u/s. 147 and 148 of the Income Tax Act is without jurisdiction and unsustainable in law.
ITAT Chandigarh held that the income so surrendered by way of account receivables cannot be brought to tax under the deeming provisions u/s 69 r/w section 115BBE of the Income Tax Act.
Shukla Enterprises Private Limited Vs ACIT (Delhi High Court) Writ petition is directed against order dated 29.07.2022 passed under Section 148A(d) and the consequential notice dated 30.07.2022 passed under Section 148 of the Income Tax Act, 1961. Besides this, challenge is also laid to the show cause notice dated 25.05.2022 issued under Section 148 A(b) of […]
Bhagwati Agency Vs Assistant Commissioner, GST & Central Excise (Orissa High Court) 1. This matter is taken up through Hybrid Arrangement (Virtual/Physical Mode). 2. Heard Mr. Sidhhartha Ray, learned Senior Counsel assisted by Mr. S.K. Sahu, learned counsel appearing for the petitioner. We have also heard Mr. A. Kedia, learned Standing Counsel appearing for the […]
ITAT Pune held that payment made voluntarily by the employer out of appreciation for the employee falls outside the rigours of Section 17(3)(iii) of the Income Tax Act.
ITAT Ahmedabad held that proportionate disallowance u/s 35AD of the Income Tax Act is justifiable as only one godown is used for non-agricultural purposes, whereas, other four go-downs are used for agricultural purposes only.
Order under Section 148A(d) appears from record, is perverse and is in total non-application of mind and is liable to be quashed.
Deepak Shriniwas Mantri Vs ITO (ITAT Pune) This appeal by the assessee arises out of the order dated 26-09-2022 passed by the CIT(A) in National Faceless Appeal Centre, Delhi in relation to the assessment year 2008-09. 2. I have heard both the sides and gone through the relevant material on record. It is seen that […]
Record shows that reassessment proceedings have been triggered based on information received by respondent/revenue via a Tax Evasion Petition (TEP).
