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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 : Rental income from sub-letting is taxed as "Income from other sources," not "Income from house property." Deemed ownership rules a...
Income Tax : Understand presumptive taxation schemes under sections 44AD, 44ADA, and 44AE, including eligibility, computation, and maintenance ...
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...
Neelkanth Town Planners Pvt. Ltd. Vs DCIT (ITAT Delhi) We find that the Assessing Officer has issued the penalty notice stating that, subsequently penalty notice u/s 271(1)(c) was issued on 20.03.2017, fixing the case for hearing on 24.03.2017. The assessee was asked to why penalty u/s 271(1)(c) should not be imposed upon you for concealment […]
Uma Strips Ltd. Vs DCIT (ITAT Delhi) In this case ITAT find that there is no live link presented by the AO between the material available with him i.e. the report of the investigation and to reason to belief that the assessee has tried to evade the assessment for the particular year in question. Simply […]
Shri Sai Co-Operative Thrift and Credit Society Ltd. Vs ITO (Delhi High Court) In the present case, though the petitioner responded to the show cause notice, yet it could not provide all the relevant details and documents, as the time period of three days to respond to the show cause notice was inadequate. Consequently, this […]
Late Shri Nemichand Gunavanthraj Vs ITO (ITAT Chennai) We noted that the assessee has moved this petition under Rule 29 of the ITAT Rules and filed additional evidences i.e., confirmation letters from relatives, copies of Income-tax returns, copies of financial statements, copies of wealth tax returns of the relatives to prove the creditworthiness of the […]
Human rights and taxes today have an obvious and unmistakable connection, with human rights having a tangible and formal impact on many aspects of the tax relationship.
Important precautions for Non-resident Indians selling property in India. Understand the rules and regulations to avoid legal complications and taxes.
Sneha Nerli Vs ITO (ITAT Bangalore) We are of the opinion that assessee has to prove with evidences that sufficient cash was available to deposit to her bank account. In the present case, assessee claimed that she has been working in Dubai and that the cash deposit in India were on account of amounts earned […]
Inconvenience of power of attorney holder (whether he is male or female) is not a reason to deny transfer sought for by the wife.
Learn how to read tax judgements like a pro. Get tips and advice for navigating complex legal documents and understanding their contents.
Giant Construction Company Vs DCIT (Madras High Court) The petitioner assails the communication dated 21.04.2022 by which the objections raised by the petitioner to the reopening of the assessment were rejected. The petitioner asserts that the impugned communication is in contravention of the amended Section 148-A of the Income Tax Act, 1961. Upon the insertion […]