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Income Tax : Understand the revised 2% TDS rate on rent from Oct 1, 2024. Learn the correct rate, avoid overpayments, and claim refunds for exc...
Income Tax : Bombay High Court rules on tax evasion by Buniyad Chemicals, addressing unexplained credits, money laundering, and regulatory acti...
Income Tax : Understand the New Income Tax Bill 2025, key policy changes, structural revisions, and interpretation methods. Learn how these upd...
Income Tax : Article explores effectiveness and influence of Bilateral Investment Treaties (BITs) on FDI flows with particular emphasis within ...
Income Tax : Learn about deductions allowed under Section 57 of the Income Tax Act, 1961, for income from other sources, including family pensi...
Income Tax : CBDT invites stakeholder suggestions on simplifying Income Tax Rules and Forms under the Income Tax Bill, 2025. Submit feedback vi...
Income Tax : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...
Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...
Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...
Income Tax : The Income Tax Bill 2025 aims to simplify tax laws with no major policy changes. It enhances clarity, reduces ambiguities, and ali...
Income Tax : ITAT Delhi affirms PCIT’s order under Section 263, ruling AO’s assessment erroneous & prejudicial to revenue. Key precedents c...
Income Tax : ACIT vs Prashant Prakash Nilawar case where ITAT Mumbai dismissed Rs. 17 Cr addition based on WhatsApp messages without concrete e...
Income Tax : ITAT Ahmedabad dismisses ITO's appeal against Sun Gold Capital Ltd due to low tax effect under CBDT Circular 09/2024. Key issues i...
Income Tax : Analysis of ITAT Ahmedabad's ruling in Rakesh Saxena Vs PCIT. The tribunal upheld the revision order, treating VRS benefits as tax...
Income Tax : Madras High Court quashes assessment order citing lack of proper notice and violation of natural justice for a non-resident taxpay...
Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...
Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
Alleged interest income is from the Fixed Deposits, which were made by the assessee in the course of business and in order to comply the statutory requirements of the West Bengal Cooperative Societies Act, 2006. Therefore, the same should be treated as part of the business income and is eligible for deduction under section 80P(2)(a)(i) of the Act and should not be treated as income from other sources.
Explore the case of Shri T. Sriranga (HUF) vs ITO (ITAT Bangalore), where the Income Tax Appellate Tribunal remanded the issue of cash deposit disallowance back to the Assessing Officer for verification in accordance with CBDT circulars.
Read the detailed analysis of the ITAT Kolkata’s ruling in the case of Community For Social Work vs. ITO, highlighting jurisdictional discrepancies in the assessment process under the Income-tax Act.
Learn how ITAT Delhi’s ruling favored Manoj Mediratta in a capital gain assessment case, setting aside the addition made by the assessing authority and remanding the issue for fresh consideration.
In the case of DCIT Vs Pravardhan Seeds Pvt. Ltd., ITAT Hyderabad ruled that agricultural activities for seed production qualify for tax exemption under section 10(1) of the Income Tax Act.
Chandigarh Freight Carrier vs PCIT case delves into tax deduction issues under Section 194C. Detailed analysis reveals how compliance and jurisdiction were evaluated by ITAT Delhi.
Explore the recent ITAT Delhi decision (Amit Tyagi vs DCIT) highlighting that the non-production of directors doesnt justify addition for advancing loans. Assessee’s documentary evidence, PANs, and banking transactions were deemed valid. Get insights into the arguments, observations, and legal perspective.
Kiran Agarwal challenges an order under Section 148A(d) of the Income Tax Act, citing jurisdictional issues. Calcutta High Court quashes the order due to non-compliance with approval formalities.
ITAT Delhi deletes penalties imposed under section 271(1)(c) for concealment of income/filing inaccurate particulars in Babita Khurana vs DCIT case. Detailed analysis and ruling provided.
Shri Palabathuni Chandra Ravi Vs ITO (ITAT Hyderabad) Facts of the case, in brief, are that the assessee is an individual and filed his return of income electronically on 21.1.2018 declaring total income at Rs.6,21,210/-. During the course of assessment proceedings, it was noticed by the Assessing Officer that the assessee deposited a total of […]
