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Income Tax : Learn what constitutes capital gains, how they are taxed, the types of capital assets, and distinctions between short-term and lon...
Income Tax : Monetary gifts to individuals or HUFs exceeding ₹50,000 in a year are taxable unless received under specific exemptions like fro...
Income Tax : Learn about the clubbing provisions under the Income Tax Act, covering income transfers, revocable transfers, and taxation of inco...
Income Tax : Understand the provisions of Sections 269SS, 269ST, and 269T under Indian tax law, their implications, and reporting requirements ...
Income Tax : Learn about Sovereign Gold Bonds (SGBs), including eligibility, investment limits, interest rates, redemption, and tax implication...
Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...
Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...
Income Tax : The Central Action Plan 2024-2025 by CBDT aims to optimize India's direct tax system, focusing on revenue, litigation, taxpayer se...
Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...
Income Tax : ITAT Mumbai deletes disallowance of capital gains by DCIT after confirming investment in property with Charity Commissioner approv...
Income Tax : ITAT Mumbai held that confirmation of addition u/s. 69A and 68 of the Income Tax Act without finding any fault with the evidence s...
Income Tax : Madras High Court held that compensation paid to ESOP holders qualifies as perquisite and hence taxable under the head ‘salary�...
Income Tax : ITAT Ahmedabad held that invocation of section 263 by PCIT unjustified due lack of sufficient evidence to support claim that the o...
Income Tax : ITAT Ahmedabad held that deduction under section 54 of the Income Tax Act towards Long Term Capital Gains admissible even when ret...
Income Tax : Finance Act 2023 updates the process for filing applications under Section 10(46A) of the Income-tax Act. Standardized procedures ...
Income Tax : On August 16, 2024, President Droupadi Murmu officially granted her assent to the Finance (No 2) Bill, 2024. With this move, the b...
Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...
Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...
Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...
Held that co-operative banks are liable to deduct TDS on payment of interest on time deposits only from 01.06.2015 and not before that.
Held that in the present case the approving authority has acted casually and granted the approval u/s. 153D in a mechanical manner without judicious exercise of power. According, approval granted u/s 153D was quashed and consequently the assessment order u/s 153A was also quashed.
Held that there is no material/ evidence to say that the assessee was having any business connection in India. Addition unsustainable.
It is held that the Penalty Notice is defective, therefore, the penalty levied under section 271(1)(c) of the Act, is not maintainable.
T P D 101 Uthangarai Milk- Producers Co-operative Society Ltd. Vs ITO (ITAT Chennai) The assessee supposed to have been filed audit report as required u/s.44AB of the Act, on or before 31.10.2015. However, such audit report has been filed on 05.03.2016, which is before the date of completion of assessment proceedings u/s.143(3) of the […]
ACIT Vs Ecocat India Pvt. Ltd. (ITAT Delhi) There is no quarrel on the proposition that the DSIR has approved the weighted deduction for capital expenses. Those expenses were in a sum of Rs. 2,97,57,596/- which is acknowledged in the assessment order by the AO. What has not been permitted u/s 35(2AB) of the Act […]
CIT Vs ITC Limited (Calcutta High Court) Whether on the facts and in the circumstances of the case the Ld. Tribunal has erred in law in allowing the claim of the assessee for deduction under Section 80IC of the I.T. Act, 1961, amounting to Rs.72,21,948/- by disregarding that the captive undertaking is not entitled to […]
Royal Accord Realtors Pvt. Ltd. Vs DCIT (ITAT Mumbai) In a taxing statute one has to look merely at what is clearly said in the section. There is no room for any intendment. There is no concept of equity in tax law. Nothing is to be read in, nothing is to be implied. One has […]
R N Fashion Vs Union of India And Ors (Calcutta High Court) In this case reply was uploaded online by the assessee on 21st March, 2022 and the time limit for filing the reply in terms of notice expired on 18th March, 2022 which was a public holiday and the following two days namely, 19th […]
Held that the act of University in granting affiliation to a private college is service in furtherance of providing education and accordingly the affiliation fees collected is exempted from service tax.
