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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...
The writ petition is not maintainable challenging the notice issued under Section 148 of the Income Tax Act. The Hon’ble Supreme court in GKN Drive Shafts’ case reported in 259 ITR 19 (SC), clarified the procedure to be followed, when notice is issued under Section 148. Therefore, the petitioner has to follow such procedure including by asking the reasons for reopening the assessment. Upon the request so made, the reasons can be furnished and the petitioner can file objections and the Officer thereafter has to pass a speaking order before proceeding with the assessment. In this case, the writ petitioner has not filed the return and on the other hand filed the present writ petition straightaway.
The issue raised by the assessee challenging the action of AO in holding the income from providing IT support services as taxable for fees for technical services.
The issue under consideration is whether the exemption u/s 54 can be denied only with the reason that the new property has been purchased in the name of son and not in the name of that assessee.
Therefore, according to the Finance Act, 2015, prior to 01.06.2015, your good self had no authority to levy fee, if any, under Section 234E of the Act and thus levy of fee under Section 234E of the Act while processing the statement is beyond the scope of Section 200A of the Act.
Parle Hindu Devalaya Mandal Vs DCIT (ITAT Mumbai) The dispute in the present appeal is confined to denial of assessee’s claim of exemption under section 11(2) of the Income Tax Act, 1961. The assessee is a charitable trust and has been granted registration under section 12AA of the Act. For the assessment year under dispute, […]
Since there was no material available before AO that assessee had paid anything more than what was mentioned in the sale deed, therefore, no addition was warranted in the instant case by invoking the provisions of section 69.
Addition by AO under section 41(1) as liability of ‘Trade Payables’ written off was not justified as the balance-sheets filed by assessee were neither signed by the Auditor nor by the Director and, therefore, the same were not reliable and assessee had failed to produce any confirmation to the effect that the assessee received payment from M/s. O as interest free unsecured loan.
Disputed tax in relation to an assessment year or financial year, as the case may be, means the income-tax, including surcharge and cess (hereafter in this clause referred to as the amount of tax) payable by the appellant under the provisions of the Income-tax Act, 1961, as computed under different circumstances
Service of notice upon a dead person under section 142(1) would not authorise him to assume jurisdiction to pass assessment order on the L/Rs. also.
How much Vivad would be closed and how much Vishwas the Vivad se Vishwas scheme will be able to achieve that in coming months would be in front of all of us,but this scheme has proved the true integrity that we professionals have. It is the professionals who foregoing their professional opportunities and are educating […]
