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Income Tax : Budget 2025-26 focuses on growth, tax relief, and investment. GDP projected at 6.3-6.8%, new tax slabs ease burden on middle class...
Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...
Income Tax : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...
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 : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
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 deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evid...
Income Tax : Kerala High Court held that recovery of tax arrears by income tax department from property that was already auctioned by Kerala Ge...
Income Tax : Delhi High Court held that license fees paid to M/s. Remfry & Sagar for use goodwill vested in the company is allowable as deducti...
Income Tax : ITAT Delhi held that Long Term Capital Gain [LTCG] earned from transaction in penny stock is liable for addition. Accordingly, app...
Income Tax : ITAT Mumbai held that adjustment of disallowance of deduction u/s 80P(2)(d) is not permissible adjustment under section 143(1) of ...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
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...
Dinesh Agarwal Vs ACIT (Calcutta High Court) Considering these facts, HC was of the considered view that this case clearly falls under the amended Act relating to proceedings under section 147 of the Act under which issuance of notice under section 148A of the Act is mandatory before issuing any notice under section 148 of […]
Armstrong Pure Water Services Pvt. Ltd. Vs Union of India (Bombay High Court) Petitioner should have been proactive and promptly communicated the stay granted by this Court to the Assessing Officer so that he would have had enough time to make enquiries with his Advocate and also check on the website about orders passed. In […]
Integrated Finance Company Limited Vs ACIT (ITAT Chennai) The ld. Counsel for the assessee has submitted that the assessee company, being under liquidation, was under strenuous pressure of running behind the Hon’ble High Court and public depositors as well as bond holders for consolidation and recover the dues with lack of sufficient staff and thereby […]
Poosabban Thangaraju Vs ITO (ITAT Chennai) On perusal of the Form 5 dated 25.03.2021 issued under VSVS by the Designated Authority for both the assessment years, we find that the Form 5 has been issued for full and final payment of ₹.6,250/- as taxes in terms of VSVS order under section 5(2) dated 05.02.2021 pertains […]
It is settled law that exclusion or inclusion of one or other comparable would by itself not constitute a question of law unless it is shown that there are important functional dissimilarities or vital material facts which go to the root of profitability or where other material circumstances are involved.
We find that in view of Section 14 of IBC 2016 no proceedings can continue against the corporate debtor during the pendency of insolvency proceedings.
Esteem Finventures Limited (Now Kapedome Enterprises Limited) Vs ACIT (ITAT Delhi) ITAT is of considered opinion that the ld. CIT(A) has confirmed the addition by stretching too far the rules of prudence. The Ld. AO himself observed in the order that the services engaged were from top most legal professionals. If that was the view […]
B. Braun Medical (India) Private Limited Vs DCIT (ITAT Mumbai) ITAT deletes Transfer Pricing (TP) Adjustment as TPO adopts Wrong Gross Profit (GP) Margin of Comparable Company The assessee raised an additional ground before the Ld. DRP stating that the gross profit margin of ADS Diagnostics Ltd., had been wrongly worked out by the Ld. […]
PCIT Vs Madhur Mittal (Delhi High Court) The scope of jurisdiction in Section 260A is very well settled. It is a settled proposition that ITAT is the final arbiter of the facts. High Court can interfere in the order of the ITAT only if there is substantial question of law or there is manifest illegality […]
Easily navigate the process of filing the Statement & Certificate of Section 80G Donation using Form 10BD for the FY 2021-22. Learn about due dates, required details, filing steps, and penalties for non-compliance. Stay informed about the new norms for a transparent deduction process under Section 80G.
