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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 : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
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 : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
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 rules that late filing of Form 67 does not bar foreign tax credit under Section 90. Read about the case of Shashank Sada...
Income Tax : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...
Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...
Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...
Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...
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...
Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...
Sumeru Enterprises Vs ITO (ITAT Jaipur) It is the case of the assessee that it had cancelled the allotment of certain flats in its commercial complex as the allottees/debtors refused to pay the outstanding amount towards the interest, complex maintenance charges and electric installation charges and the same were reversed and written off in respective […]
Vodafone Idea Ltd. Vs ITO (ITAT Delhi) At the outset, we find merit in the contention of the Ld. Counsel of the Assessee that in the absence of any adverse judgment by the Hon’ble Jurisdictional High Court, i.e., the Hon’ble High Court of Punjab & Haryana, there being divergence of judicial opinion on the subject […]
Mehrunnisa Mohamed Fazal Maniar Vs ITO (Gujrat High Court) The case on hand is not a case where the Income Tax Officer seeks to draw any fresh inference which could have been raised at the time of the original assessment on the basis of the materials placed before him by the assessee relating to the […]
Order under Para 4 of the Faceless Penalty Scheme, 2021 for directing the National Faceless Assessment Centre /Regional Faceless Assessment Centre/ Assessment Unit/ Review Unit to act as the National Faceless Penalty Centre /Regional Faceless Penalty Centre/ Penalty Unit/ Penalty Review Unit under the Scheme – regarding.
F No. 187/4/2021-ITA-I Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi – 110001. Dated the 20th January, 2021 ORDER Subject: Order under Para 3 of the Faceless Penalty Scheme, 2021, for assignment and disposal of penalty cases under the scheme- regarding. The Central Board of […]
Discount offered on some of the prepaid mobile services did not partake the character of commission under Section 194H and hence there was no obligation to withhold tax on such discounts on prepaid services.
Sumeru Enterprises Vs ITO (ITAT Jaipur) The Ld. CIT(A) has ascertained the factual aspect that this is not a closure of business but temporary discontinuance of business. We further noted that in earlier years the interest expenditure claimed by assessee were allowed by the department itself. However, in the year under consideration the same was […]
Mr. Tushar Hemani, the learned counsel appearing for the writ applicant submits that the stay application has also been filed way back in the July, 2020.
JCIT (OSD) Vs Kingfisher Airlines Limited (ITAT Bangalore) The first issue is related to disallowance of helicopter expenses. We notice that the A.O. was constrained to make adhoc disallowance since the assessee has failed to furnish details called for by the A.O. We also notice that the assessee did not appear before Ld. CIT(A) also. […]
The present article covers deduction available under section 35ABB of the Income Tax Act for obtaining a licence for operating telecommunication services. The article briefly explains the treatment on the transfer of the licence and also treatment in case of amalgamation/ demerger. Deduction as per section 35ABB of the Income Tax Act– The provisions of […]
