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Income Tax : This article explains why reassessment proceedings may be invalid if the Assessing Officer merely relies on Investigation Wing rep...
Income Tax : The Jaipur Tribunal held that every foreign asset or remittance cannot be treated as undisclosed wealth under the Black Money Act....
Income Tax : This guide compares the Old and New Tax Regimes, explaining differences in deductions, exemptions, home loan benefits, and standar...
Income Tax : The article explains how different interpretations of Section 112 may produce either nil tax or a positive tax liability for the s...
Income Tax : ITAT Mumbai held that an employee cannot be denied TDS credit merely because the employer failed to deposit the tax deducted from ...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
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 : The ITAT ruled that approval from the Principal Chief Commissioner/Chief Commissioner is mandatory for reopening assessments beyon...
Income Tax : A belated filing of Form 3CLA was a curable procedural defect and could not deprive an assessee of weighted deduction under sectio...
Income Tax : The Orissa High Court held that the Section 143(2) notice was issued by an authority lacking jurisdiction and set it aside. The Co...
Income Tax : The Mumbai ITAT held that ownership premises received under a redevelopment scheme are acquired in exchange for valuable tenancy r...
Income Tax : The Cochin Bench held that the minimum one-acre condition must be satisfied by the land comprising the approved housing project it...
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...
All communication from Income Tax Department must have a computer generated DIN w.e.f. Oct 01, 2019 With effect from October 01, 2019, any communication from Income Tax Department without a computer-generated DIN i.e. Documentation Identification Number, be it a notice, letter, order & summon or any other correspondence,would be treated as invalid & shall be non […]
Four crore rupees worth of black money seized since declaration of Maharashtra Assembly Elections: DGIT (Investigation). DG of Income Tax (Investigation) briefs the media on steps taken by the Income Tax Department to curb use of black money and cash in elections
Today we are discussing the Types of Person and Its Taxability under Income Tax Act. Further also, we all must have heard the peoples’ saying that by forming a Company, LLP, HUF, Firm, can ‘save Tax’. So what is this all Company, LLP, Firm and all. Now, we begin with the understanding types of ” […]
Deduction under section 80QQB is available to an author of certain books, being resident in India, who is receiving income by way of royalty or copyright fees. The current article explains all the provisions attached to the said deduction section 80QQB. Some of the essential terms – Following are some of the important terms which need […]
Definition:- A permanent establishment (PE) is a fixed place of business which generally gives rise to income or value-added tax liability in a particular jurisdiction. The term is defined in many income tax treaties and in most European Union Value Added Tax systems. Significance :- In all these years after qualifying as a Chartered Accountant whenever i […]
Whether the AO is correct in disallowing expenses incurred on developing and maintaining land in connection with real estate activity?
Where out of 14 persons, 13 persons have duly confirmed the booking advances made to assessee and their creditworthiness was also examined by AO but no negative inference was drawn by him, no addition could be made under section 68 just because one person who had only advanced an meager amount, had not recorded the statement under oath as he was abroad. Consequently, penalty under section 271(1)(c) would also not be levied.
The Central Board of Direct Taxes (CBDT) has signed the 300th Advance Pricing Agreement (APA) during the month of September, 2019. This is a significant landmark of India’s APA Programme, which is currently in its seventh year. Three APAs were entered into in September, 2019 (2 Unilateral and 1 Bilateral APA), which has taken the […]
Trushar Parimal Shah Vs ITO (ITAT Ahmedabad) The addition in the present case was made under section 69C of the Act on account of unexplained expenses. Indeed, the primary onus lies on the assessee to justify the expenses claimed by him. However from the preceding discussion, we note that the assessee has discharged his onus […]
Assessee not having routed service tax amount through profit and loss account, there was no question of making disallowance under section 43B on account of delayed payment of service-tax.
