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Income Tax : New Income Tax Bill 2025, replacing the 1961 act, focuses on simplification and clarity. Learn about the key changes and retained...
Income Tax : Understand key changes in proposed Income Tax Bill 2025. This FAQ covers definitions, tax year, non-profits, exemptions, salary, h...
Income Tax : Learn about the simplification, stakeholder consultation, and structural reforms in the new Income-Tax Bill aimed at reducing redu...
Income Tax : Explore the key takeaways of the New Income Tax Bill 2025, including structural changes, simplified provisions, and updates in tax...
Income Tax : Learn about unexplained cash credits under Section 68, tax implications, key legal cases, and compliance requirements to avoid pen...
Income Tax : Income-Tax Bill 2025 simplifies tax laws by reducing sections, chapters, and words while ensuring no policy or tax rate changes. K...
Income Tax : Explore the section mapping of the New Income-Tax Bill 2025, comparing provisions with the Income-Tax Act, 1961. See key changes, ...
Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
Income Tax : Analysis of income tax return filings in India over five years, including trends, zero-tax cases, and government initiatives to en...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
Income Tax : Allahabad HC quashes two Section 154 tax orders, citing laconic reasoning and violation of natural justice. Fresh hearing ordered....
Income Tax : Supreme Court dismisses Bihar Police Building Construction Corporation's tax appeal due to significant delay....
Income Tax : Patna High Court rules interest earned on government grants for construction is taxable income, not capital receipt....
Income Tax : Supreme Court dismisses tax case due to delay and lack of merit. Bombay High Court quashes reassessment notice against Teleperfor...
Income Tax : Bombay High Court quashes reassessment notice in Teleperformance case due to lack of application of mind in granting approval unde...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
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...
The Appointments Committee of the Cabinet has approved the appointment of the following officers as Members, Central Board of Direct Taxes (CBDT): (i) Ms. Anu J. Singh, IRS (IT:85034) (ii) Shri J.B. Mohapatra, IRS (IT:85031) (iii) Anuja Sarangi, IRS(IT:85053)
The principles of natural justice are based on the following rules: 1. Rule Against Bias — No one should be a judge in his own cause. 2. Justice should not only be done, but manifestly and undoubtedly be seen to be done. 3. The Rule Of Fair Hearing – Hear the Other Side 4. No […]
Giving is not just about making a Donation. It is about making a Difference. Swipe Right to know how you can save up on your taxes by making a donation. Section 80G of the Income Tax Act, provides for Deduction in respect of donations to certain funds, charitable institutions, etc. All assesses are eligible to […]
Ritnand Balved Education Foundation (Umbrella Organization of Amity Group of Institutions) Vs National Faceless Assessment Centre & Ors. (Delhi High Court) 1. In our view, since the statute itself makes the provision for grant of personal hearing, the respondents/revenue cannot veer away from the same. 2. The impugned assessment order as well as the impugned […]
Smt. Bachupally Laxmi (alias Routhu Laxmi) Vs ITO (ITAT Hyderabad) For the purpose of computation of LTCG arising out of the development agreement cum GPA, the Assessing Officer has accepted that the assessee has acquired the flats as on 9.11.2009 and therefore, in the year 2012 when the assessee has sold the flat, the holding […]
Devgiri Exports Vs ITO (Rajasthan High Court) FULL TEXT OF THE JUDGMENT/ORDER OF RAJASTHAN HIGH COURT Learned counsel relies on judgements passed by the High Court of Delhi, Madras and Bombay to submit that the faceless assessment done under section 144B of Income Tax Act, 1961 has been examined by the High Court without insisting […]
Goldman Sachs (India) Finance Private Limited Vs DCIT (ITAT Mumbai) We are of the considered opinion that in this regard if the assessee is not called upon to pay any tax on book profit as taxes on normal computation are higher even after the aforesaid exercise of increase of the book profit by the amount […]
International Air Transport Association (Canada) Vs ACIT (ITAT Mumbai) At this stage, we may herein observe that as in the present case before us, in the case of Delmas France (supra) also there was no finding of the lower authorities that the transactions between the principal and agent were done in arm’s length conditions. Under […]
ACIT Vs Yashovardhan Tyagi (ITAT Delhi) he issue in the present ground is with respect to the addition of Rs.20,00,000/- made u/s 69A of the Act. AO made the addition u/s 69A of the Act and treated the amount of Rs.20,00,000/- from M/s. Eagle Home Entertainments Pvt. Ltd. to be as not recorded in the […]
MS Lokesh Constructions P Ltd Vs ACIT (Delhi High Court) 1. It is required to be noted that initially, the petitioner had declared its income as ₹ 87,55,390/-; which was revised to ₹ 73,59,500/-. 2. Via the impugned assessment order dated 07.04.2021, an addition of ₹ 13,95,890/-, has been made to the declared income of […]
