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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...
Pravin Talakshibhai Kotak Vs PCIT (Gujarat High Court) HC held that Principal Commissioner shall look into all documents which are on record and take an appropriate call as regards the attachment of the property-in-question. FULL TEXT OF THE JUDGMENT/ORDER OF GUJARAT HIGH COURT By this writ application under Article 226 of the Constitution of India, […]
Provision for obsolete stock be allowed as deduction subject to satisfying himself that valuation is done based on principle that at cost or market price or net realizable value, whichever is less.
ITAT held that non mentioning of relevant limb or non striking off of irrelevant limb in penalty notice is a substantive defect in imitation of proceedings itself and consequent penalty levied on the basis of such defective notice can not be sustained.
Amidst the OECD’s inclusionary efforts, many issues remain unresolved, particularly when it comes to the transfer of intangibles for the specific purpose of business restructurings. Cross-border transfers of intangibles are frequently made with the final goal of changing corporate structures, such as when a company is entirely comprised of this type of assets (IP company).
AO did not make any addition with regard to URD purchases, which were considered to be bogus or inflation of expenses, in the respective years. Without making addition of alleged bogus/inflated expenses, the A.O. could not disallow depreciation
Explore the issue of mandatory binding arbitration in India and its critical analysis. Learn about the impact on double taxation avoidance agreements and dispute resolution mechanisms.
The paper will firstly discuss cloud-based TP activities and the challenges to regulate them; secondly, analyse the feasibility of regulating cloud-based TP activities through blockchain smart contracts; and finally, scrutinise the risks of regulating cloud-based TP activities through blockchain-based RegTech and provide possible solutions for the same.
International trade has existed from the most ancient civilisation of the world like Harappan, Mesopotamia, Egyptian and Roman civilisations. However, the volume of international trade was not so large in those days as it is today.
The entire controversy revolves around the question as to whether the assessee has been able to provide explanation for difference of stock between the stock submitted to the bank as on 28/3/2005 and the stock indicated in the audit report for the period ending 31/03/2005 relating to raw material, stock-in-process and finished goods.
Unlock insights into your financial landscape with AIS and Form 26AS. Understand every transaction reported by banks, registration offices, and more. Ensure compliance by reviewing taxpayer details, thresholds, and the two comprehensive sections of AIS. Explore Form 26AS for a holistic overview of tax-related information, from deductions to high-value transactions. Delve into Part A to Part H, covering income tax, refunds, assessments, and more. Stay informed, stay compliant – AIS and Form 26AS empower your financial clarity.
