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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 : 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 : 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 : ITAT Pune rules that late filing of Form 67 does not bar foreign tax credit under Section 90. Read about the case of Shashank Sada...
Income Tax : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...
Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...
Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...
Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...
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...
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...
ITAT Jaipur held that where no books of account are maintained, penalty should be imposed for non-maintenance of books of account u/s 271A of the Income Tax Act. However, in such circumstances imposing penalty u/s. 271B for not getting books of accounts audited is not justifiable.
Madras High Court held that impugned assessment order passed without granting time despite of specific request from the petitioner is liable to be quashed and remanded back as against the principles of natural justice.
Gujarat High Court dismissed the petition as being prematured. It is directed to dispose the objections raised by petitioner by the concerned authority.
ITAT Rajkot held that denying the exemption under Section 80P of the Income Tax Act merely on the ground of belated filing of return by the assessee is not justifiable.
Aggreko Energy Rental India Pvt. Ltd. Vs DCIT (ITAT Pune) ITAT Pune held that appellate authority has power to entertain any new claim for the first time though not made before the Assessing Officer as the intention of the revenue would be to tax real income. Accordingly, revised claim of depreciation on goodwill made otherwise […]
ITAT Mumbai held that provisions contained in section 56(2)(x) of the Income Tax Act are not attracted in case of the trust created for the benefit of the members / relatives of the settler who have been identified as beneficiaries.
ITAT Delhi held that by mere putting a seal as approving statement is not sufficient for initiation of reassessment proceedings u/s 147. It proves that approving authority has granted the approval in mechanical manner without application of mind and hence initiation of reassessment proceedings invalid.
We are drawing your kind attention towards Proposed Amendment in Section 43B of The Income Tax Act, 1961, which is detrimental to MSME Sector.
Understand the differences between the UN and OECD Model Tax Conventions and their application in Indian tax treaties. Dive into article-by-article comparisons and India’s unique tax treaty policies.
Understand the intricacies of Transfer Pricing regulations in the UAE with an overview of the CT Law, including the Arm’s Length Principle, Related Parties, Payments to Connected Persons, and Transfer Pricing Documentation requirements.
