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Income Tax : This comprehensive FAQ explains the TDS provisions applicable for AY 2026-27, including rates, thresholds, compliance obligations,...
Income Tax : Learn how Section 161 of the Income-tax Act, 2025 establishes the arm's length principle for international and specified domestic ...
Income Tax : Learn why taxpayers must deposit unutilized capital gains into a Capital Gains Account Scheme (CGAS) before the ITR due date to pr...
Income Tax : This FAQ guide explains the applicability of ITR forms, filing methods, due dates, penalties, and taxpayer obligations for AY 2026...
Income Tax : This guide explains how taxable income and tax liability are computed under the Income-tax Act, from Gross Total Income to the fin...
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 Delhi held that the Revenue could not substitute the assessee's consistent method of revenue recognition with the Percent...
Income Tax : The Gujarat High Court quashed the reinitiated penalty proceedings after the Assessing Officer failed to pass a fresh order within...
Income Tax : The Gujarat High Court held that once the Resolution Plan was approved under Section 31 of the IBC, all tax liabilities not formin...
Income Tax : ITAT Ahmedabad held that the Transactional Net Margin Method (TNMM) remained the most appropriate method as there was no change in...
Income Tax : The Gujarat High Court set aside the reassessment after finding that the Assessing Officer failed to provide specific reasons for ...
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...
Instruction No. 18/2015 With effect from 01.04.2001, the provisions of section 115JB shall not be applicable to a foreign company (including an FII/FPI) if:- (i) the foreign company is a resident of a country with which India has a Double Taxation Avoidance Agreement and such foreign company does not have a permanent establishment in accordance with the provisions of the relevant Double Taxation Avoidance Agreement, or
Guidelines for Online Registration NPS Trust welcomes you to ‘eNPS’ ,which will facilitate:- ➤ Opening of Individual Pension Account under NPS (only Tier I / Tier I & Tier II) ➤ Making initial and subsequent contribution to your Tier I as well as Tier II account To open an Individual Pension account online. ✔ You must […]
USA, a nation with a population of close to 319 million with one of the highest GDP in the world, approximately 10 times of India’s yearly Gross Products is now going around the world to find and catch her own citizens and green cardholders who earn income and accumulate wealth outside the States.
1.ITAT Mumbai held in the case of Asst. DIT Vs M/s Hongkong and Shanghani Banking Corporation Ltd that the broken period interest paid would be allowed to the assessee after relying the case of the assessee itself in The Hongkong and Shanghai Banking Corporation Ltd V/s DCIT
ITAT held in Acclaris Business Solutions Lvt Ltd. Vs I.T.O that only those companies could be compared for calculating ALP which were functionally similar. Those companies which were not performing similar functions could not be compared for calculating ALP.
ITAT held in Haier Appliances India Ltd Vs DCIT and Haier Appliances India Ltd Vs ACIT after relying on the case of Sony Ericsson Mobile Communications India Pvt Ltd reported in (2015) 374 ITR 118 (Delhi) that the above transaction of AMP
ITAT Delhi held In the case of DCIT vs. M/s. Escorts Construction Equipment Ltd. that we find that this amount represents unpaid sales tax liability and the same was disclosed itself by the assessee as a contingent liability.
CIT Vs. V/s. M/s. Thyssen Krupp Industries India Pvt. Ltd. (Bombay High Court) In terms of Chapter X of the Act, redetermination of the consideration is to be done only with regard to income arising from International Transactions on determination of ALP.
ITO Vs M/s Citizen Scales (I) P. Ltd. (ITAT MUMBAI)-The Assessing Officer imposed penalty u/s 271(1)(c) of the Act. We note that in para 4 of the assessment order it has been categorically recorded that there was a mistake in computation of book profit and the same was pointed out by the Assessing Officer
The assessee in the present case is a Company, which is engaged in the business of trading in jewellery. The return of income for the year under consideration was filed by it on 01.11.2004 declaring a loss of 1,81,69,142/-.
