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Income Tax : Recent Chennai ITAT decisions address unexplained income, underreporting, and penalties under Sections 69A, 68, 270A, and 271. Key...
Income Tax : Explore why the Income Tax Department is disallowing Section 87A rebate on capital gains under the new tax regime, leading to unex...
Income Tax : Learn the financial penalties of TDS/TCS non-compliance, including interest and disallowance. Prevent errors by managing deadlines...
Income Tax : Learn about penalties for misreporting income, late filings, and other violations under the Income Tax Act, 1961, to avoid serious...
Income Tax : Learn about the partition of Hindu Undivided Family (HUF), its legal process, tax implications under Section 171, and the criteria...
Income Tax : CBDT simplifies compounding procedures under the Income-tax Act, 1961 by reducing charges, removing limits, and easing filing requ...
Income Tax : CBDT simplifies TDS for salaried employees and enables parents to claim TCS credit for minors through recent amendments in Income-...
Income Tax : A PIL filed in Gujarat HC contests the denial of Section 87A rebate, highlighting unfair demands and confusion among middle-class ...
Income Tax : A PIL filed in Gujarat High Court contests the denial of the Income Tax rebate under Section 87A, impacting middle-class taxpayers...
Income Tax : Over 34 lakh Audit Reports filed on the e-filing portal by October 7, 2024, showing a 4.8% increase from last year, according to t...
Income Tax : ITAT Surat held that addition based on unsigned, undated and unstamped Satakhat/ sale and purchase agreement cannot be sustained s...
Income Tax : On appeal, after considering the submissions of the assessee, the Ld. Addl/ JCIT (A), partly allowed the appeal of the assessee. O...
Income Tax : ITAT Ahmedabad held that deduction under Section 80-IB/80-IE of the Income Tax Act disallowed on loan to employees and bank deposi...
Income Tax : ITAT Delhi held that bandwidth charges remitted by the assessee to foreign telecom service providers cannot be treated as royalty ...
Income Tax : Gujarat High Court held that once indexed renovation expense of co-owner accepted, the assessee is not required to produce any doc...
Income Tax : CBDT exempts tax collection at source (TCS) on payments received from the Reserve Bank of India under Section 206C(1F) of the Inco...
Income Tax : CBDT issued Income-tax (Ninth Amendment) Rules 2024, amending tax collection and credit provisions under Section 206C. Effective f...
Income Tax : The Ministry of Finance amends Income Tax Rules with Notification 112/2024, streamlining tax deduction processes and compliance re...
Income Tax : The Income Tax Amendment Rules, effective October 1, 2024, revise Form No. 10A and 10AB for registration under sections 12A and 80...
Income Tax : Learn about the eligibility, rates, forms, and timelines under the Direct Tax Vivad se Vishwas Scheme, 2024....
In a case between Giri Bahadur and the Ward, ITAT Mumbai dismisses the appeal, upholding disallowance of late PF/ESIC contributions under Section 36(1)(va) of the Income Tax Act.
Find out if Anandji Kalyanji’s tax assessment dispute was resolved by Section 154 of Income Tax Act, 1961. Learn what ITAT Jodhpur ruled in case of Anandji Kalyanji vs. ACIT in this blog post.
The Indian Red Cross Society’s denial of registration under sections 12AB and 80G(5) of the Income Tax Act faces reevaluation by the ITAT due to concerns about compulsory donation fund transfers.
In the case of G.K. Reddy vs. DCIT, Madras High Court has directed the Income Tax Department to lift the attachment of a pension account, considering the age and ailment of the assessee. Learn more about this judgment.
Kerala High Court allows deposit orders of lesser amounts pending appeal, citing CBDT Office Memorandums not binding on the Commissioner.
ITAT Delhi held that commission taxed @2% of the amount of accommodation entries provided by the assessee has not been made on ad hoc basis, however, the same is as per prevailing market rate. Accordingly, the addition is sustained.
ITAT Delhi held that addition u/s. 56(2)(vii)(b) of the Income Tax Act on account of difference between circle rate and actual amount paid for purchase of land as the land in question was a capital asset.
Read about how the ITAT Pune invalidated an income tax assessment order due to the absence of a Document Identification Number (DIN) and analyzed the case’s key aspects.
Explore the legal case of Fusion Engineering Products vs. Union of India regarding a delay in TDS deposit and the quashing of criminal proceedings. Analysis and insights.
Discover the parallels between Diwali fireworks and tax provisions as fictional characters Arjuna and Krishna explore the complexities of Companies Act, GST, and Income Tax
