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Income Tax : Understand key differences between legal and tax terms like Act vs Rule, Exemption vs Deduction, TDS vs TCS, and more for better c...
Income Tax : ITAT Mumbai ruled in favor of an auto-rickshaw driver, rejecting a ₹103 Crore income addition, citing insufficient investigation...
Income Tax : Understand the new 1% TCS on luxury goods above ₹10 lakh in India, effective April 2025. Learn which items are included, implica...
Income Tax : Learn about India's TCS on luxury goods. Effective April 2025, 1% TCS applies to sales over ₹10 lakh for watches, art, yachts, a...
Income Tax : Learn about the latest changes in TCS under Section 206C(1F) for luxury goods exceeding ₹10 lakh. Find the list of notified item...
Income Tax : Understand CBDT's Notification 38/2025 on non-deductible settlement expenses under Income-tax Act for SEBI, Competition Act violat...
Income Tax : Representation highlights long delays at NFAC affecting over 5 lakh appeals, urging CBDT to expedite resolutions and restore taxpa...
Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...
Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...
Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...
Income Tax : ITAT Raipur held that providing unreasonably short period of time of six days for furnishing reply vide notice issued u/s. 148A(b)...
Income Tax : AO could not reject the LTCG Exemption claim based on mere surrounding circumstances or probabilities without presenting any legal...
Income Tax : ITAT Jaipur accepts LTCG claim of Vivek Agarwal; rejects AO's addition under Section 68, citing adequate evidence of share transac...
Income Tax : ITAT Kolkata deletes addition under Section 68, accepting LTCG on share sale by Kiran Kothari as genuine, rejecting AO's reliance ...
Income Tax : ITAT Bangalore rules software development as "production", allowing Bosch's claim under Sections 32(1)(iia) and 32AC for depreciat...
Income Tax : CBDT notification details income tax exemption for Mysore Palace Board. Covers income from palace, fees, rent from government agen...
Income Tax : CBDT notification clarifies that expenses to settle proceedings under SEBI, Securities Contracts, Depositories, and Competition Ac...
Income Tax : The Central Government notifies the National Mission for Clean Ganga as exempt from income tax under Section 10(46A), effective AY...
Income Tax : The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ｹ10 lakh, effectiv...
Income Tax : Latest income tax rule changes effective April 2025. Form 27EQ updated with new categories for tax collection at source on various...
Explore the ITAT Visakhapatnam’s resolution in the case of Smt. Sabhapathi Padmasree vs. ITO regarding deemed dividends. Learn how collateral security provided by the assessee impacted the tax treatment of loans and advances under section 2(22)(e).
Explore the ITAT Chennai resolution in the case of Shri Krishnapandian Balaji vs. DCIT regarding unexplained cash deposits during demonetization. Learn how the assessee justified the source as rental income.
Explore the ITAT Mumbai decision in Swati Jignesh Jain vs. ITO regarding the imposition of penalty u/s. 271(1)(b). Learn how the AO deemed condonation of the assessee absence influenced the verdict.
ITAT held that excise duty subsidy and interest subsidies given in pursuant of new industrial policy were held to be capital receipts.
Dive into the analysis of Steril-Gene Life Sciences’ appeal against DCIT’s treatment of forex loss as capital expenditure. Understand the impact on machinery cost and depreciation.
Explore the legal intricacies of Anil Kumar Khetawat case vs. ACIT. Uncover how a jurisdictional flaw in issuing notice under section 143(2) renders the assessment proceedings void.
Explore the case of Mahesh Arvind Tilve vs. PCIT (ITAT Mumbai) where the validity of the assessment is questioned. Assess the jurisdictional challenges and the significance of cash transactions.
The undisputed position that emerges is that the assessee has received short-payment against invoices from various transport undertakings. The same is evident from the ledger extract furnished by the assessee. Undisputedly, these undertakings are the customer of the assessee and the shortfall of amount so received by the assessee has been claimed as bad-debts / discounts.
Explore the Harpreet Singh Grover vs. ITO case at ITAT Amritsar. Analysis of cash deposit controversy, CIT(A) decision, and ITAT’s order for de novo adjudication.
Explore the Orissa Power Transmission Corporation Ltd vs. ACIT case at ITAT Cuttack. Analysis of interest income, business vs. other sources, and prior period expenses.
