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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...
Till Now, Form 26AS had always been an annual credit statement issued by the income tax department to help taxpayers cross-verify income earned, Tax deducted at Source (TDS) and tax deposited during a given financial year. In the new picture, Form 26AS will now be a complete profile of the taxpayer which will have comprehensive […]
मोदी ने ईमानदार करदाताओं को दी सौगात, फेसलेस असेसमेंट और टैक्सपेयर्स चार्टर लागू !! ‘Transparent Taxation – Honouring the Honest’ A new platform Lunched through video conferencing by honourable Prim Minister Mr. Narendra Modi. देश में चल रहा Structural Reforms का सिलसिला आज एक नए पड़ाव पर पहुंचा है। 21वीं सदी के टैक्स सिस्टम की […]
Microsoft Corporation (India) Pvt Ltd Vs DCIT (ITAT Delhi) The issue under consideration is whether expenditure on account of civil and interior works liable for depreciation at 10% or at 15%? ITAT states that, they have perused the items of the expenditure which has been reproduced by the assessing officer in the assessment order and […]
whether the tribunal is correct in holding that the assessee is carrying on manufacturing activity as per SEZ Act, 2005 and hence eligible for deduction U/s.10AA?
The issue under consideration is whether Section 41(1) is applicable in case of waiver of liability incurred in respect of purchase of capital asset?
Sumit Balkrishna Gupta Vs ACIT (Bombay High Court) The issue under consideration is whether the issuing of a notice u/s 143(2) in the name of the wrong person is sustainable in law? High Court states that it is a fact that the petitioner had filed return for the assessment year 2016-17 in the name of […]
The issue under consideration is whether the assessment order passed by the assessing officer under section 153C is bad in law and void ab-initio?
DCIT Vs DHL Logistics Pvt. Ltd. (ITAT Mumbai) The issue under consideration is whether assessee is eligible for Depreciation on Goodwill resulting from acquisition of business unit? ITAT states that the issue as regards the entitlement of the assesses towards claim of depreciation on intangible (i.e goodwill) is squarely covered by the orders of the […]
The issue under consideration is whether the expenditure incurred in renovation and redecoration of rooms in a hotel is a revenue expenditure or capital expenditure?
whether disallowance of the expenses only on the basis that there was reduction in the sharing of the revenue in comparison to the earlier years is justified in law?
