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Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
Income Tax : This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...
Income Tax : This article explains the statutory powers of the Principal Commissioner or Commissioner to waive or reduce penalties in genuine c...
Income Tax : Summary: The Income Tax Act, 2025 introduces a significant structural reform by relocating the exempt income provisions previousl...
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 Delhi ITAT held that additions made on transactions unrelated to the reasons recorded for reopening were beyond the Assessing ...
Income Tax : The ITAT Chandigarh held that once registration under Section 12AB had been directed to be granted, the primary basis for rejectin...
Income Tax : The Delhi ITAT found that the Assessing Officer lacked legal authority to reopen assessment years lying outside the ten-year block...
Income Tax : ITAT Chennai restored the matter to the Assessing Officer after finding that the assessment and appellate proceedings were conclud...
Income Tax : ITAT Kolkata upheld the deletion of disallowance relating to brought forward losses of an amalgamating company after finding that ...
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...
A.O while working out disallowance under section 40A(2)(b), had though observed that the payment of salary to the aforementioned two related parties in question was found to be excessive, but had fundamentally erred by not opining as to what as per him was the fair market value of the service which were being rendered by the aforementioned related persons, considering which the payments made to them by the assessee were to held as excessive.
Dismissal of appeal in limine on account of non payment of taxes & non filing of returns u/s.153A. Appeal restored to file of CIT(A) in view of proviso to section 249(4)(b) to exercise the discretion vested in him & to consider the plea taken by appellant as regards financial difficulties.
Levy of penalty by the assessing officer after passage 30 months after the completion of the assessment, we are of the opinion that the penalty proceedings are barred by limitation and consequently penalties levied under section 271B cannot be sustained
Explore the evolution of Union Finance and revenue sharing with provinces in India. Discover how financial resources are delegated for developmental works.
ITO vs. Sharda Shree Agriculture & Properties Pvt. Ltd. relating to addition on account of Share Application Money from two Kolkata based companies. Entire Addition was deleted
ACIT vs. Sanjay Kumar Kochar relating to deletion of addition on account of Bogus Purchases & Bogus Sales. Entire Addition was deleted.
Understand the Income Tax provisions in India regarding cash transactions, including penalties and restrictions on accepting loans or deposits in cash.
The Income Tax Department carried out a search operation on 03.08.2022 on a Jaipur based group, engaged in the business of gems and jewellery, hospitality and real estate. The search operation has covered more than three dozen premises located in Jaipur and Kota.
Addressing conflicts in Faceless Assessments: New SOP issued to ensure taxpayers concerns are heard and resolved.
Analyzing the errors and shortcomings in the Calcutta High Court order of Swati Bajaj vs PCIT. A critical review on the penny stock controversy and its impact on black money.
