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Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
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 : ITAT Pune rules that late filing of Form 67 does not bar foreign tax credit under Section 90. Read about the case of Shashank Sada...
Income Tax : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...
Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...
Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...
Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
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 Department’s recent searches reveal tax evasion schemes by contractors, leading to unaccounted cash and asset creation. Details of operation.
Read about case of HIROTEC India Private Limited vs. Assessing Officer, where Madras High Court set aside an assessment order due to a violation of natural justice.
Read case of Renga Fabricators Private Limited vs. ACIT/ITO, where an outdated email notice led to quashing of an assessment order by Madras High Court.
Explore the case of Daechang Seat Co. Ltd. Vs DCIT at ITAT Chennai, involving a ‘conflict of interest’ issue. Learn about legal principles, professional conduct, and how it impacts income-tax proceedings
Madras High Court held that initiation of proceedings for reassessment under section 147 of the Income Tax Act based on material already on record and without new/ tangible information is bad-in-law and liable to be quashed.
ITAT Delhi held that imposition of penalty under section 271(1)(c) of the Income Tax Act unjustified as voluntary deposit of tax was done before receiving notice under section 148 of the Income Tax Act.
ITAT Raipur held that imposition of penalty u/s. 271(1)(b) of the Income Tax Act within the time period contemplated in clause (a) of sub-section (1) to Section 275, i.e six months from the end of the month in which appellate order was received is duly justified.
ITAT Delhi held that assessee has placed sufficient evidences to discharge initial onus to explain the nature and source of loans. Accordingly, addition u/s. 68 of the Income Tax Act towards unsecured loan unjustified.
ITAT Jodhpur held that levying late fees u/s 234E of the Income Tax Act for delay in filing TDS return for 4th quarter of F.Y. 2012-2013 unwarranted as power to levy fees has come into effect only from 01.06.2015
CBDT amends rule 37BB and introduces Form 15CD for International Financial Services Centre (IFSC) unit remittances from January 1, 2024
