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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...
An object beneficial to a section of the public is an object of general public utility. But the section of the community sought to be benefited must be sufficiently defined and identifiable by some common quality of a public order or impersonal nature.
ITAT Mumbai held that addition under section 69 of the Income Tax Act based on tally data having various inherent discrepancy is unsustainable as AO failed to verify or ask the assessee to reconcile the same from actual books of accounts or physical stocks.
Find out how Nykaa issued Bonus Shares in the ratio of 5:1 to its existing shareholders & how to calculate Capital Gain on Issue of Bonus Shares (The Nykaa Strategy). Get the story of Nykaa and its IPO now!
M.P. Police Sakh Sahkari Sanstha Maryadit Vs PCIT (ITAT Indore) Co-operative societies engaged in banking business are eligible for deduction u/s. 80P on their interest income from bank deposits- ITAT Indore Facts of the Case 1. The assessee is a co-operative society engaged in the business of banking which filed ITR claiming deduction u/s 80P. […]
ITAT Mumbai held that in absence of rights in the domain name, receipt from domain name registration doesn’t fall in the category of royalty as defined under Article 12(3) of India-UAE DTAA.
ITAT Mumbai held that addition with regard to unexplained payment unsustainable in the hands of the employee as employee merely handled the cash on behalf of the employer.
Assessee not liable for penalty under Section 271(1 )(c) when an addition is being made with the help of deeming provision of Section 50C
Any action on part of the Assessing officer to verify utilization of amount deposited in capital gains account scheme needs to be undertaken or examined in the year when the period of three years from the date of transfer of original asset expires and not in year of transfer of original asset.
Section 200A deals with processing of TDS statement & Clause (c) of sub-section (1) of section 200A was inserted w.e.f. 01-06-2015 providing for levy of fee u/s. 234E
ITAT held that Investment referred in Section 142A pertains to Investment made by assessee in construction of property and not investment made in purchase of ready built house property.
