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Income Tax : Section 80E of the Income Tax Act provides deduction towards interest paid on loan taken for higher education. The current article...
Income Tax : Explore how Section 170 of Income Tax Act applies to post-amalgamation assessments, with key judicial decisions and implications f...
Income Tax : The Supreme Court's rulings clarify reassessment procedures under the Income Tax Act, addressing validity, TOLA implications, and ...
Income Tax : Find out whether the Income Tax Recovery Officer can attach a taxpayer's overdraft or cash credit account for outstanding tax dema...
Income Tax : Explore challenges of digital taxation and how technology, like blockchain and AI, is transforming tax compliance. Learn about glo...
Income Tax : ICAI requests CBDT to allow rebate u/s 87A on short-term and long-term capital gains under Sections 111A and 112, citing inconsist...
Income Tax : CBDT forms a committee to review the Income-tax Act and invites public suggestions on simplification and compliance via the e-fili...
Income Tax : Supreme Court disposes of 573 direct tax cases due to increased appeal limits from the Union Budget 2024-25, reducing tax litigati...
Income Tax : Join our webinar on TDS amendments from Budget 2024 and learn their impact on tax audits, filing procedures, and compliance....
Income Tax : Tax professionals face technical issues on the Income Tax portal, hindering tax audit report submissions before the 30th Sept 2024...
Income Tax : Himachal Pradesh High Court held that attachment of account like Cash Credit or Overdraft by exercising powers conferred under sec...
Income Tax : Chhattisgarh High Court held that addition u/s. 68 r.w.s. 69A of the Income Tax Act towards unexplained income sustained since ass...
Income Tax : ITAT Delhi held that addition under section 69A on account of income from undisclosed source sustained in assessee deliberately fa...
Income Tax : AO, however, did not accept the explanation of the assessee and the accumulation of income of Rs.5,92,352/-in A.Y. 2008-09, which ...
Income Tax : Assessee challenged the disallowance before the Chennai bench of ITAT arguing that the disallowance of Rs. 134.25 crore under Sect...
Income Tax : CBDT extends deadline for trusts and institutions to submit audit reports in Form 10B/10BB until November 10, 2024....
Income Tax : TDS on agents commission reduced from 5% to 2% as per the Finance Bill 2024. New rate effective from October 1, 2024, under Sectio...
Income Tax : DGIT issues notification on the procedure for filing Form-1 under the Direct Tax Vivad Se Vishwas Scheme, 2024. Learn about the on...
Income Tax : CBDT designates OCAC Chairman for identifying genuine beneficiaries of Odisha's social welfare schemes under Section 138 of the In...
Income Tax : CBDT issues comprehensive guidelines for condonation of delay in filing returns claiming refunds or losses under Section 119(2)(b)...
Key tax changes from the July 2024 Budget effective October 1. Covers TDS rates, share buyback taxation, VSV 2.0, and other important reforms for taxpayers.
ITAT Indore partly upheld disallowance of cash payments under Section 40A(3, affirming Rs. 1.14 crore in disallowed transactions for the year 2014-15.
Explore the ITAT Mumbai’s ruling on Vipul Vasant Patil’s foreign tax credit claim and interest levies for FY 2018-19. Learn more about the case details.
ITAT Mumbai rules on the appeal by Valuable Technologies regarding the set off of long-term capital loss against capital gains for FY 2020-21.
CBDT issues comprehensive guidelines for condonation of delay in filing returns claiming refunds or losses under Section 119(2)(b) of the Income-tax Act, 1961.
Explore how India’s tax reassessment laws shifted after Finance Act 2021, focusing on the difference between change of opinion and fresh tangible material.
In view of above facts, we restore this appeal back to the learned Assessing Officer with the direction to the assessee to substantiate the status of the assessee as trust and also eligibility of relevant provisions of Sections 11 and 12 by producing the registration u/s. 12AA of the Act.
The Revenue’s action in mulcting the penalty by asking the assessee to prove the reasonable cause [COVID- 19] with documentary evidence capable of suggesting non-application of mind by the tax authorities.
ITAT Ahmedabad held that invocation of revisionary jurisdiction under section 263 of the Income Tax Act not justified as view taken by PCIT was second view and the same is not permissible u/s. 263.
Himachal Pradesh High Court held that in view of the provisions of Section 151A of the Income Tax Act read with the Scheme dated 29th March, 2022 the notices issued by the Jurisdictional Assessing Officers and not in prescribed faceless manner are invalid and bad in law.
