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Income Tax : Learn about the Lower Deduction Certificate under Sections 197 & 206C(9) of the Income Tax Act. Understand eligibility, applicatio...
Income Tax : Income of minors is clubbed with parents' income unless earned through personal skill or manual work. Tax planning strategies can ...
Income Tax : Understand the revised 2% TDS rate on rent from Oct 1, 2024. Learn the correct rate, avoid overpayments, and claim refunds for exc...
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 : Learn about new rules restricting TDS/TCS correction statements under Income-tax Act Section 200(3) from April 2025. Key dates and...
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 : ITAT Pune rules Form 10B filing not mandatory for Section 11/12 exemption claims, citing Gujarat High Court precedent, remands cas...
Income Tax : ITAT Pune allows patent drafting & translation expenses as revenue expenditure u/s 37, overturning lower authority's capital expen...
Income Tax : ITAT Mumbai rules PCIT's revision under Section 263 as erroneous. The tribunal holds non-initiation of penalty proceedings cannot ...
Income Tax : DCIT Vs Meridian Chem Bond Private Limited (ITAT Pune) Does Proving the Three Main Ingredients by Assessee U/S 68 Shift the Burden...
Income Tax : ITAT Bangalore sets aside ex-parte order against senior citizen, ruling that email-only notices denied a fair hearing. Case remand...
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...
It must be grasped that judiciary is respected not on account of its power to legalize injustice on technical grounds but because it is capable of removing injustice and is expected to do so.
ACIT (Intl. Taxn) Vs Allscripts (India) Pvt. Ltd. (ITAT Ahmedabad) It is pertinent to note that Section 201(3) specifies the time limit in respect of TDS for residents only. The CIT(A) observed that the order dated 25.03.2019 is beyond four years in light of Hon’ble Delhi High Court decision in case of NHK Japan Broadcasting […]
Definition the Profits derived from the operation of ships or aircraft in international traffic, in the India- Singapore DTAA is exhaustive enough not only to include the air passengers but also mail, livestock or There is nothing mentioned in the India-Singapore DTAA to make an inference that the profits from transport of air passengers should not be covered under Article 8 of the Indo-Bhutan DTAA.
ITAT Ahmedabad held that undisclosed income declared during the course of search is treated as gross income as genuineness of expenditure claimed against the same is not doubted by AO.
ITAT Pune held that disallowance of 1% is reasonable as admittedly the share transactions were manipulated through entry provider stockbrokers in order to obtain fraudulent income by rigging share prices and selling them in order to justify the unaccounted income of the assessee.
ITAT Mumbai held that reopening of assessment alleging that assessee has failed to provide fully and truly all material facts necessary for his assessment is bad in law as details already made available to AO during the course of scrutiny assessment proceedings.
ITAT held that credit of bona fide assessee cannot be denied in case where assessee committed technical/typographical error during return filing.
Yum Restaurants India (P) Ltd Vs ACIT (ITAT Delhi) The undisputable fact in this case is that while the lease rentals are paid based on a fixed percentage on the net revenue, the Common Area Maintenance (CAM) charges are based on the per sq. ft. area. The observation of the ld. CIT(A) is that the […]
CIT International Taxation Vs Bellsea Ltd. (Delhi High Court) HC held that duration of a permanent establishment would commence with the performance of business activities in connection with the building site or assembly project. A building site or an assembly project can only be construed at fixed place of business only when an enterprise commences its […]
Jurisdictional notice under Section 143(2) of the Act was issued against the dead person and the assessment order has also been passed against the dead person on his PAN without bringing on record all his legal representatives, therefore, the said assessment order and the subsequent notices are null and void and are liable to be set aside.
