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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...
Understanding the consequences of defaulting on TDS payments under Section 276C. Learn about the legal implications and potential punishments.
Bombay High Court held that in the present case there is full and true disclosure on the part of the petitioner. Reopening of assessment, on the ground that another director of the same company has disclosed the income differently is evidently a change of opinion and unsustainable in law.
ITAT Hyderabad held that in case of violation of provisions of section 269SS of the Income Tax Act, penalty can be only in the year in which violation has taken place and not in any assessment year.
ITAT Jaipur held that delayed payment of employee contribution to PF/ESI as prescribed u/s 36(1)(va) of the Income Tax Act is beyond the ambit of adjustments to be carried out u/s 143(1) of the Income Tax Act.
Guwahati High Court held that any member of a Scheduled Tribe as defined in Clause (25) of Article 366 of the Constitution, residing in any of the areas prescribed u/s. 10(26), is exempted from payment of income tax. However, residing in any area specified cannot be given a narrow and restricted meaning.
ITAT Hyderabad held that it is mandatory for CIT(A) to grant responsible opportunity to the Assessing Officer in case additional evidence is admitted. However, in the present case, the documents based on which relief is granted was already available with the department and hence there is no violation of Rule 46A of the Income Tax Rules.
Bombay High Court held that as between the date of the orders of assessment sought to be reopened and the date of forming of opinion by the Income-tax Officer nothing new has happened i.e. there is no change in law, no new material came on record and no new information has been received. Hence reopening proceedings was just change of opinion accordingly the same is unsustainable in law.
GST Composition Scheme was created to make GST payment easy for MSME businesses and simplify GST return filing. Small taxpayers can avoid time-consuming GST processes by paying GST at a fixed rate of turnover.
Learn about the major amendments in Budget 2023 related to Capital Gains, including changes affecting Residential House Property, Gold, and Market Linked Debentures.
Understand the key amendments regarding Charitable & Religious Trusts in the Finance Bill 2023 through a simplified breakdown in 10 points.
