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Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...
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 : 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 ITAT ruled that deduction of TDS does not excuse failure to file an income tax return. The decision emphasizes that income dis...
Income Tax : The Tribunal held that technical glitches on the income tax portal, coupled with grievances raised by the taxpayer, justified cond...
Income Tax : The ITAT upheld depreciation on goodwill arising from a slump sale acquisition after finding that the business was acquired throug...
Income Tax : The Tribunal held that the MAT provisions under Section 115JB do not apply to banking companies, following binding precedents in t...
Income Tax : The Tribunal ruled that audited books and quantitative reconciliation supported the genuineness of agricultural commodity purchase...
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...
The Income Tax Department carried out search and seizure operations on 10.11.2021 on three different groups at 30 different premises in Visakhapatnam, Hyderabad, Vizianagaram and Srikakulam. These groups are mainly engaged in real estate business of development of residential plots and construction of apartments.
Income Tax Department conducts searches in Pune The Income Tax Department carried out a search and seizure operation on 11.11.2021 on a group at Pune which is engaged in manufacturing of heavy machinery like excavators, cranes, concrete machinery which are used in mining, piling and port, etc. Search operation has covered around 25 locations across […]
Nokia India Sales Pvt. Ltd Vs Addl. CIT (ITAT Delhi) Conclusion: In present facts of the case, the Hon’ble Tribunal held that creating a demand for non-deduction of tax while the recipient has paid taxes on the same amount would result in recovery of taxes on the same amount twice and on the issue of […]
Praveen Kumar Gupta Vs. Ravi Chadha and Ors. (Delhi High Court) Stay under Section 124 of the Trade Marks Act, 1999 is available against infringement of registered trade mark and not against passing off In the matter of Praveen Kumar Gupta Vs. Ravi Chadha and Ors. [CM (M) 428/2021, CMAPPL. 20526/2021] dated 06th August 2021, […]
The Income Tax Department carried out search and seizure operations on 10.11.2021 on two groups, one engaged in real estate and hospitality and the other, a tools and equipment manufacturing group at Gurugram.
Taxpayers’ Lounge of Income Tax Department set up at IITF, 2021 A Taxpayers’ Lounge has been set up by the Income Tax Department in India International Trade Fair, 2021 at Pragati Maidan, New Delhi from 14th – 27th November 2021, for fostering awareness about various services provided by the Income Tax Department to taxpayers and […]
Bajaj Allianz General Insurance Company Private Ltd. vs. Union of India (Supreme Court) We have perused the report dated 21.10.2021 submitted by Mr. Jayant K. Sud, learned Additional Solicitor General in compliance of our order dated 03.08.2021 and he has made certain suggestions. He has also sought directions from this Court. We consider it appropriate […]
Notification No. 06 of 2021 – Granting of Non-Functional Up-Gradation (NFU) In The Higher Administrative Grade (HAG) to 66 officers of the Indian Revenue Service. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ****** New Delhi, dated the 15th. November, 2021. 24 Kartik, 1943 (SAKA) NOTIFICATION NO. 06 OF […]
Whether on the facts and in the circumstances of the case the Learned Tribunal, erred in law in upholding the order of the CIT (Appeals) by deleting the addition of Rs.11,39,00,000/-made by the Assessing Officer under Section 68 of Income Tax Act, 1961 by disregarding that the assessee could not satisfactorily explain the genuineness of the transactions and creditworthiness of the share applicants in question ?
Rajinder Kumar Vs Central Board of Direct Tax & Anr. (Supreme Court of India) The Court is convened through Video Conferencing. Learned Additional Solicitor General appearing for the petitioner – C.B.D.T. in T.P. (Civil) Nos. 18651866/2021 after arguing for some time, seeks permission to withdraw the Transfer Petitions. In view of the request made, the […]
