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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 : This blog explores the implications of this tax policy, the distinction between games of skill and chance, the applicability of Ta...
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 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 : Bombay HC quashed Trent Ltd.’s tax refund adjustment under Section 245 of the IT Act, citing a violation of natural justice. Rev...
Income Tax : ITAT Pune dismisses revenue appeal, upholding CIT(A)'s decision that a tax reassessment based on a cancelled PAN was invalid....
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...
In draft submissions before the First Appellate Authority, challenge the issuance of a Section 148 notice sent to the wrong address, affecting the assessment proceedings.
Sh. Yasir Bilal Khan Vs DCIT (ITAT Amritsar) ITAT Amritsar held that penalty u/s 271B for non-furnishing of audit report within specified date leviable as assessee failed to prove nexus between non-completion of the audit report u/s. 44AB with the flood of Kashmir. Facts- The penalty was levied by the ld. AO u/s. 271B of […]
ITAT Bangalore held that income from sale of developed flat, obtained under Joint Development Agreement (JDA), is to be treated as income from short term capital gain/ long term capital gain and not as income from business.
ITAT Amritsar held that provisions of section 115BBE of the Income Tax Act cannot be made applicable where assessee has made a statement that the excess stock was a result of suppression of profit in respect of sales made outside the books of accounts.
The taxation of cross-border digital and e-commerce transactions has always been a huge trouble for the entire world, including India, since it has created endless ways for doing the business virtually from anywhere in the world without having any physical presence.
ITAT Pune held that as NFAC dismissed the claim of deduction u/s 80P on legal issue without considering the case on merits, matter remanded back for fresh adjudication.
Presently RSU (Restricted stock unit also known as Sweat Equity) allotted by a foreign grand parent company, free of cost to employee of Indian subsidiary, is being taxed as ‘perquisite’; and for the purpose, the FMV of the ‘vested units’, as on the date of vesting, is considered as the taxable perquisite value.
Learn about Section 54 exemption from capital gains tax on the sale of a house property as per the Finance Act 2023. Understand eligibility, conditions, limits, consequences, and revocation of the exemption.
Calcutta High Court held that invocation of provisions of rule 8D(2)(ii) of the Income Tax Rules by AO without examining the accounts of the assessee and without examining the claim made by the assessee is unjustified.
ITAT Delhi held that reassessment proceedings without issuance of notice under section 143(2) of the Income Tax Act is bad in law and liable to be quashed.
