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Income Tax : Below is a curated list of the most influential and frequently cited landmark judgments under the ITA, focusing on their practical...
Income Tax : An in-depth analysis of how agricultural income tax exemptions are used for evasion, with suggestions to curb misuse and protect s...
Income Tax : Explore how MNCs used the Double Irish & Dutch Sandwich strategy to avoid taxes and the global efforts made to close these loophol...
Income Tax : The 2025 amendment in Section 143(1) of the Income Tax Act introduces new compliance requirements. Taxpayers must ensure consisten...
Income Tax : To give relief to small taxpayers from tedious job of maintaining of books of account and getting accounts audited, Income-tax Act...
Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...
Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...
Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : ITAT Kolkata cancels penalty u/s 271D for Tarai Transport Corporation in AY 2016-17, citing reasonable cause and a similar past ru...
Income Tax : ITAT Rajkot cancels penalty on Anil Odedara, ruling income was estimated and not grounds for concealment under Section 271(1)(c) o...
Income Tax : ITAT Jaipur sets aside addition and penalty against Mukesh Kumar Agarwal due to lack of valid jurisdiction and time-barred penalty...
Income Tax : ITAT Raipur sets aside assessment against Adarsh Rice Mill due to lack of jurisdiction under Section 147. Merits of the case remai...
Income Tax : ITAT Raipur held that reassessment proceedings under section 147 of the Income Tax Act without any fresh material, amounts to mere...
Income Tax : ITAT Chandigarh held that ITO Ward-3(1), Chandigarh had no jurisdiction to issue notice to an NRI and hence consequently the asses...
Income Tax : CBDT introduces ITR-B for search and seizure cases under section 158BC of the Income Tax Act, effective from 1st September 2024....
Income Tax : CBDT sets 30 April 2025 as the last date to file declarations under the Direct Tax Vivad se Vishwas Scheme, 2024....
Income Tax : HUDCO bonds issued after April 1, 2025, notified as long-term assets under Section 54EC for capital gains exemption, usable for in...
Income Tax : CBDT grants tax exemption to Prayagraj Mela Pradhikaran under section 10(46A) of the Income-tax Act, effective from assessment yea...
Recently, the Delhi bench of the Income-tax Appellate Tribunal dealt with the issue of taxability on sale of shares under India-Mauritius tax treaty (tax treaty). The Tribunal asked for either third party evidence or evidence by any government agency either situated in Mauritius or in India to be brought on record to substantiate taxpayer’s claim regarding holding board meetings in Mauritius. The Tribunal held that the documents placed on record needed examination regarding their authenticity and relevance, accordingly restored the case back to the Assessing Officer (AO) to decide the same afresh.
The Bombay High Court held that expression “order” for the purposes of section 264 of the Income-tax Act, 1961 (the Act) has a wide connotation. The words used under section 264(1) of the Act are ‘any order other than order under section 263’. Hence, the rejection of an application by the Assessing Officer (AO) for lower withholding rate under section 197 (See Note-1 Below) of the act is an ‘order’ eligible for revision by the Commissioner of Income-tax (CIT) under section 264 of the Act.
The Tax Deducted at Source (TDS) wing of the income tax (I-T) department, on Friday conducted surveys on three major pharmaceutical companies following information of TDS rule violations. The surveys were conducted on GlaxoSmithKline (GSK) Pharmaceut
The tax department will take a close look at the expense accounts of real estate giants Emaar MGF, Parsvnath, Unitech, DLF and others in the wake of the bribes-for-loan racket unearthed recently. The Central Board of Direct Taxes (CBDT) will also pro
An alleged scam involving realisation of bogus income tax refund has come to light here after a man tried to deposit fake refund cheques to the tune of Rs 47 lakh, officials said today. Police, on the complaint of Ludhiana Income Tax Department
IT IS HEREBY notified for the information of the Advocates and the parties appearing in-person that in partial modification of the extant assignment of judicial work, from Monday, 22nd November 2010: (I) All Writ Petitions, Appellate Side and Origi
The Income Tax department has struck an estimated Rs 50 crore deal with state-owned telecom company BSNL to provide 51,000 mobile connections and one thousand high-end Blackberry phones for secure and fast communication amongst its officers and staff
The assessee, a broker in the BSE, disclosed short-term capital gains and long-term capital gains on sale of shares. The AO accepted the LTCG as such though he held that the STCG was assessable as “business profits” on the ground that the assessee was a stock broker & there was large volume and frequency (more than 300) transactions. On appeal, the CIT (A) reversed the AO. On appeal by the department to the Tribunal, HELD dismissing the appeal:
Since no Reserve Fund has been opened in the Public Account of India for the purpose of crediting the 1% Secondary & Higher Education Cess for expenditure towards related schemes/prgorammes, the expenditure provision for Department of School Educatio
Direct tax arrears touched a staggering Rs 2.49 lakh crore last fiscal, and of this, an amount of Rs 1.43 lakh crore is seen to be difficult to recover. The tax arrears are tax demand raised by the revenue department but not realised along with the a
