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Income Tax : Understand how to compute total income and tax liability under the Income Tax Act, including adjustments for business, capital gai...
Income Tax : Learn about income tax filing requirements for proprietors in the USA, including forms, schedules, deductions, deadlines, and pena...
Income Tax : Understand the changes to the Cost Inflation Index for FY 2024-25, including indexation removal on long-term capital gains and new...
Income Tax : Learn how international transactions are taxed under India’s Income Tax Act, including DTAAs, transfer pricing, TDS provisions, ...
Income Tax : Discover the latest updates from Union Budget 2025, including revised tax slabs, withdrawal of Section 206AB, higher deductions, a...
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 : Bombay High Court quashes CBDT order denying delay condonation for Bharat Education Society, citing procedural lapses and lack of ...
Income Tax : Bombay HC ruled on Anandkumar Dhanraj Rathod's tax case, addressing natural justice claims and directing him to appeal the assessm...
Income Tax : ITAT Chennai dismisses FLsmidth's appeal, upholding PCIT's order for reassessment due to lack of verification by AO....
Income Tax : ITAT Mumbai upholds addition under Section 68 of ₹4.89 Cr. Vijay Maneklal Bhansali’s appeal dismissed, citing lack of eviden...
Income Tax : ITAT Chennai sends ₹42.72 lakh cash deposit case back to AO for fresh assessment after assessee fails to justify deposits made d...
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...
Income Tax : CBDT authorizes data sharing with the Dept. of Food & Public Distribution to identify beneficiaries under PMGKAY as per Income-tax...
Income Tax : Finance Ministry designates key Income Tax Dept. IT systems as protected under the IT Act. Learn about restricted access and autho...
ITAT Pune remands the case of Prakash Dipchand Kapadnis, instructing NFAC to reconsider the addition of gross receipts instead of net income for AY 2013-14.
ITAT Allahabad remands ₹45.4 lakh unexplained cash deposit case, citing lack of evidence and claims of fraud. Assessee given a fresh chance to present facts.
ITAT Kolkata rules that no additions can be made in completed assessments under section 153A without incriminating material seized during the search.
In the abovementioned matter ITAT remanded the matter to AO after observing that assessee failed to apply under rule 46 A (Additional Evidence) of the IT Rules.
Chhattisgarh HC dismisses income tax appeal citing tax effect under Rs. 2 Crore, following the 2024 circular on monetary limits for filing appeals.
ITAT Chennai remands Rs.117.01 lakh addition for fresh review, citing non-consideration of assessee’s details in assessment.
ITAT reduces income estimation to 2% for ticket agent’s ₹118 Lakhs cash deposit case, providing relief by lowering the AO’s 10% margin estimation.
ITAT Kolkata upholds CIT(A)’s decision to delete ₹3.92 crore additions under Section 41(1), ruling no cessation of liabilities in AY 2014–15 for Shreekrishan Goswami.
Assesse being a partnership firm, engaged in the business as dealer in petroleum products who filed its return at Rs.3,00,950/-. Subsequently the case was selected for limited scrutiny.
In the case abovementioned ITAT have held that there is no need to purchase residential property in own name by any assesseee for the purpose of claim of capital gain u/s 54F.
