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Income Tax : Learn about deductions allowed under Section 57 of the Income Tax Act, 1961, for income from other sources, including family pensi...
Income Tax : This blog explores the implications of this tax policy, the distinction between games of skill and chance, the applicability of Ta...
Income Tax : New TDS Rules Under Section 194T: Impact on Taxpayers & Businesses – Effective from 1st April 2025 Introduction The Finance ...
Income Tax : Explore the economic impact of AI, automation, and recession on India. Understand how income tax laws may evolve to address unempl...
Income Tax : Ensure tax compliance before March 31, 2025. Key tasks include filing returns, verifying TDS, updating accounts, and making necess...
Income Tax : CBDT invites stakeholder suggestions on simplifying Income Tax Rules and Forms under the Income Tax Bill, 2025. Submit feedback vi...
Income Tax : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...
Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...
Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...
Income Tax : The Income Tax Bill 2025 aims to simplify tax laws with no major policy changes. It enhances clarity, reduces ambiguities, and ali...
Income Tax : Advocate Amardeep Soni & Advocate Harsha Soni Gemplus India Pvt. Ltd. Vs ACIT (ITAT Bangalore) A Case Study of ITAT BANGALORE...
Income Tax : Karnataka High Court rules on TDS applicability under Section 195 of the Income Tax Act in the case of Abbey Business Services Ind...
Income Tax : ITAT Delhi rules that Section 50C adjustments cannot be made under Section 143(1) without referring valuation disputes to the DVO,...
Income Tax : ITAT Pune rules no addition under Section 69 if investment source is disclosed in the balance sheet. Partial relief granted for un...
Income Tax : ITAT Cochin remands Thrissur Co-op Society’s demonetization cash deposit case to CIT(A) for a fresh decision on merits after ex-...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...
Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
Income Tax : Learn about high-risk CRIU/VRU case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA port...
Government of the Republic of India and the Government of Republic of the Marshall Islands, desiring to facilitate the exchange of information with respect to taxes have agreed as follows:
Airport Retail P. Ltd. Vs DCIT (ITAT Mumbai) Conclusion: Payments towards bank charges for credit card payments were not liable for TDS under section 194H as the same was not a commission. Held: Assessee had made payments towards bank charges for credit card payments . AO made the additions as assessee made payment without deduction […]
DCIT (E) Vs Baroda Cricket Association (ITAT Ahmedabad) Article 20(1) of the Constitution of India provides certain protection in this regard which states that no person can be convicted for any offence except for a violation of a law in force at the time of action charged an offence, nor be subjected to a penalty […]
Addition under section 68 on basis of information received from investigation wing as to assessee having received share application money from alleged entry operator was not justified as assessee had filed sufficient evidences and details to prove identity and creditworthiness of share application and genuineness of transaction of receipt of share application money
Since AO and wrongly took the date of deposit of self-assessment tax as date of filing of appeal whereas date of self-assessment tax payment had to be treated as the date of removal of defect in the appeal as originally filed, thus, once defect of remittance of self-assessment tax stood removed, CIT(A) was required to adjudicate the appeal on merits as the same was filed within prescribed period of 30 days from the receipt of order of AO.
Office Order No. 116 of 2019 – Transfer & Posting in the grade of Chief Commissioner of Income Tax – reg. F.No.A.22011/5/2019-Ad.VI Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi Dated 20.05.2019 Office Order No. 116 of 2019 The following officers, who were promoted to the grade […]
Business restructuring may be defined as the cross-border redeployment by a multinational enterprise of functions, assets and/or risks. A business restructuring may involve cross-border transfers of valuable intangibles, although this is not always the case. It may also or alternatively involve the termination or substantial renegotiation of existing arrangements.
Sudarshan Kumar Jain Vs DCIT (ITAT Delhi) I find the son of the assessee Dr. Sandeep Jain who appeared before the Assessing Officer had categorically stated that whatever amount has been paid towards admission and donation/capitation fee has been paid by him. He and his wife are doctors since 1996 and have sufficient source to […]
To compute disallowance under section 14A read with rule 8D AO was directed to consider only those investments which had yielded exempt income during the year.
Sh. Ashwani Khurana Vs DCIT (ITAT Delhi) Undisputedly assessee had entered into an agreement to sell qua his property bearing no. 56 Golf Links, New Delhi with one Sanjay Pashi after accepting the earnest money of Rs. 4,62,50,000/-, which was subsequently forfeited as the prospective buyer Sanjay Pashi has failed to perform his part of […]
