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Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
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 : 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 : Petitioner No.1 is a society registered under the Societies Registration Act of 1860 and the Bombay Public Trusts Act of 1950. It ...
Income Tax : ITAT Delhi held that the expenditure incurred on CSR activities may not have direct nexus with the activities of the assessee but ...
Income Tax : ITAT Mumbai held that sale of Dangerous Goods Regulations manuals could not be characterised as ‘royalty’ within the meaning o...
Income Tax : Orissa HC quashes criminal proceedings against Metaliks Ltd for delayed TDS deposit, citing financial distress and COVID-19 impact...
Income Tax : ITAT Hyderabad rules in favor of Karimnagar DCCB, granting immunity from penalty under Section 270AA. The appeal challenges tax pe...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
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...
ITAT Kolkata held that revision of assessment order passed u/s. 143(3) unsustainable as levy of interest u/s. 115P of the Income Tax Act for short payment of Dividend Distribution Tax (DDT) u/s. 115-O of the Income Tax Act, which comes under a separate Chapter, was not part of assessment order.
Delhi High Court held that while determining compensation for injuries suffered in the road accident only documentary evidence in form of Income Tax Return in support of the claim of income is sufficient.
Explore the CIT vs Chettinad Logistics case from Madras High Court. Analysis of Section 14A disallowance, Rule 8D, and its impact on income tax assessments.
Explore the Delhi High Court judgment in PCIT vs. Bhilwara Energy Ltd, covering condonation of delay, key issues, and disallowance under Section 14A of the Income Tax Act.
ITAT Chennai held that addition towards unexplained investment u/s. 69B of the Income Tax Act unsustainable as based merely on the basis of statement of Director of the Vendor Company without any additional corroborative evidence.
Explore key legal nuances in the Supreme Court’s landmark judgment on will validity and adoption principles in Moturu Nalini Kanth vs. Gainedi Kaliprasad.
Explore Bombay High Court’s landmark judgment discharging former Chief Commissioner of Income Tax, Anil Goel, in a corruption case. Learn legal analysis and implications.
Madras High Court held that rejection of Foreign Tax Credit unjustified as Form-67, prescribed under Rule 128 of the Income Tax Rules, 1962, was not filed with income tax return but filed before passing of final assessment order.
ITAT Delhi held that addition in the hands of register owner, on the basis of AIR information without considering the fact that sales and profit thereon is booked by M/s. Parsvanath Developers Ltd. who are having real rights on the land, is unsustainable in law.
Delhi High Court held that income of the deceased, and not taxable income of the deceased, is relevant while determining loss of dependency. Thus, merely because certain allowances are not taxable in nature, the same would not warrant their deduction from the annual income of the deceased for the purposes of determining the compensation.
