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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...
ITAT Bangalore directed authorities not to dismiss rectification application u/s. 154 on the ground of limitation as the assessee was erroneously misled to deposit taxes and it is settled law that no tax can be collected without authority of law.
Calcutta High Court dismisses revenue appeal, affirming ITAT’s decision to invalidate reassessment on alleged bogus long-term capital gains already disclosed in return.
ITAT Delhi orders reassessment in Anita Dabas Vs ITO case due to non-speaking order and lack of fair hearing by CIT(A).
Nagpur ITAT finds no obligation for rectification under Section 154 if clear data is missing in Hariom Biotech Agri Farming Vs DCIT case.
Karnataka HC permits revival of PCIT vs. Stanley Black & Decker appeal due to exceptions in Circular No. 17/2019, despite low tax effect under ₹1 crore.
ITAT Bangalore directs AO to reconsider 80P deduction after lower authorities overlooked Supreme Court precedents in Arjuna Souhardha Pathina Sahakari Niyamitha case.
ITAT Indore remands Real Food Agency Pvt Ltd case to CIT(A) for proper adjudication, citing inadequate opportunity for hearing and procedural issues.
Bombay High Court quashes income tax notices issued to a deceased person. Directs issuance of new notices to legal representatives and requests CBDT for procedure changes.
CBDT designates OCAC Chairman for identifying genuine beneficiaries of Odisha’s social welfare schemes under Section 138 of the Income Tax Act, 1961.
TDS on agents commission reduced from 5% to 2% as per the Finance Bill 2024. New rate effective from October 1, 2024, under Section 194H of Income Tax Act.
