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Income Tax : Supreme Court held a levy is a fee only when linked to a specific service or benefit. Absence of quid pro quo makes it a tax, rega...
Income Tax : Companies renting residential properties often struggle with choosing between 2% and 10% TDS. The key takeaway is that the correct...
Income Tax : Bangalore ITAT held that the Revenue cannot deny the fifth-year deduction under Section 35D after consistently allowing the claim ...
Income Tax : The Income-tax Act, 2025 continues the old specified professions framework without addressing longstanding classification issues. ...
Income Tax : The Supreme Court dismissed the Revenue's review petitions and reiterated that payments for off-the-shelf software do not constitu...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Tribunal observed that even in ex parte proceedings, the CIT(A) must adjudicate issues through a speaking order. The matter wa...
Income Tax : The ITAT Delhi held that no notional rent could be charged for the period during which unsold commercial units remained stock-in-t...
Income Tax : Mumbai ITAT held that payments from accumulated income to institutions registered under Section 12AA attracted Section 11(3)(d). T...
Income Tax : Mumbai ITAT held that the Revenue could not attribute the entire execution revenue from cross-border deals to the Indian PE withou...
Income Tax : Mumbai ITAT held that maintenance charges and other collections received exclusively from members of a co-operative society are ex...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Panexcell Clinical Lab Pvt. Ltd. Vs ACIT (ITAT Mumbai) ITAT find that the assessee is in the business of drug analysis, clinical trials, and other research activities and as part of the said business, the assessee does lab study of various drugs before their launch in the market. As per the assessee, for the purpose […]
During investigation huge property have been seized which were disproportionate to her known source of income, although, she was housewife and no tax return was filed. It is submitted that the petitioner had several joint bank accounts with her husband Tapas Kumar Dutta, 45 mutual fund investment and number of LIC policies.
Assessee gets his accounts audited & furnished section 44AB audit report before finalization of assessment order, so section 271B Penalty deleted
ITAT denies condonation of delay & held that Preferring appeal does not mean mere formally filing it but also taking all steps to effectively pursue the appeal
ITAT held that receipts from Satellite Transmission Services cannot be treated as royalty & not taxable at the hands of assessee in India
Merely because petitioner failed to submit grounds of appeal as an attachment at the time of filing its memo of appeal in Form No. 35, could not be a basis for appellate authority to pass order ex-parte especially when submissions sufficiently reflected the grounds on which order of assessment was being challenged in appeal proceedings.
Kritija Construction Vs ITO (ITAT Pune) The issue in the present appeal relates to the taxability of difference of amounts shown in the Form No. 26AS and reflected in the Profit & Loss Account. It is an admitted fact that in the present case the appellant firm had received advance of Rs.38,88,745/- from one Siddhashila […]
Learn about taxation of mutual funds in India & USA, including capital gains tax, dividend tax, differences in taxation systems, GST applicability, & international taxation.
CBDT notifies Notification No. 13/2023- Income Tax, Dated: 14.03.2023 to amend notification number S.O.1911(E) dated the 21st April, 2022 to replace the words Ariyalur & Kanniyakumari with the words Districts of Ariyalur & Districts of Kanniyakumari respectively. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) (Investigation Division-V) Notification No. 13/2023- Income Tax […]
Discover the intricacies of taxation for stock market transactions, distinguishing between investors and traders, and learn about capital gains tax, turnover calculation, and ITR form usage.
