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Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...
Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : ITAT Pune rules that late filing of Form 67 does not bar foreign tax credit under Section 90. Read about the case of Shashank Sada...
Income Tax : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...
Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...
Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...
Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...
Read the detailed analysis of the ITAT Chandigarh verdict on DDK Spinning Mills vs DCIT, focusing on the implications of Section 69B and 115BBE of the Income Tax Act.
Where it has been sufficiently established that share applicants had substantial creditworthiness and investments had been made by assessee’s own sister concern/group companies having mostly common directors and thus, establishing creditworthiness and genuinity of investments, additions under section 68 had been rightly been deleted.
Once source of funds is taxed in the hands of share applicant companies, it cannot be added as unexplained income in the hands of assessee company.
Compare TaxBuddy and ClearTax to find the most user-friendly e-filing platform for submitting your tax returns. Discover features that simplify the process.
Explore the full text and detailed analysis of Shah Tracom Pvt. Ltd. Vs ITO case from ITAT Kolkata. Understand the implications, legal arguments, and outcomes in tax assessment disputes.
Explore ITAT Kolkata’s ruling on no addition for share capital & premium from group companies with common directors/shareholders. Detailed analysis & conclusion
ITAT Kolkata’s order in ITO Vs Indus Realty Pvt. Limited – Mere suspicion or disbelief on the part of Assessing Officer is insufficient to justify additions under Section 68. The identity, creditworthiness, and genuineness of transactions must be thoroughly evaluated and substantiated with concrete evidence.
Explore the detailed analysis of the ITO vs. RKB Services Pvt. Ltd. case by ITAT Kolkata. Learn about the implications for share capital additions under Section 68 of the Income Tax Act.
Mere reliance on statements without corroborative evidence and denying cross-examination rights cannot justify additions for share capital and share premium under Section 68
Explore the tax benefits of a Hindu Undivided Family (HUF) in India. Learn about deductions, exemptions, and potential drawbacks of this unique legal entity.
