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Income Tax : Understand key differences between legal and tax terms like Act vs Rule, Exemption vs Deduction, TDS vs TCS, and more for better c...
Income Tax : ITAT Mumbai ruled in favor of an auto-rickshaw driver, rejecting a ₹103 Crore income addition, citing insufficient investigation...
Income Tax : Understand the new 1% TCS on luxury goods above ₹10 lakh in India, effective April 2025. Learn which items are included, implica...
Income Tax : Learn about India's TCS on luxury goods. Effective April 2025, 1% TCS applies to sales over ₹10 lakh for watches, art, yachts, a...
Income Tax : Learn about the latest changes in TCS under Section 206C(1F) for luxury goods exceeding ₹10 lakh. Find the list of notified item...
Income Tax : CBI arrests IRS officer and private individual for allegedly undermining the Faceless Tax Scheme by leaking confidential info for ...
Income Tax : Understand CBDT's Notification 38/2025 on non-deductible settlement expenses under Income-tax Act for SEBI, Competition Act violat...
Income Tax : Representation highlights long delays at NFAC affecting over 5 lakh appeals, urging CBDT to expedite resolutions and restore taxpa...
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 : ITAT Mumbai rules on Usha Chandresh Shah's appeal against treating share sale proceeds as cash credit instead of long-term capital...
Income Tax : Punjab & Haryana HC dismisses Balbir Chand Maini's appeal, upholding ITAT's finding of a non-genuine share sale transaction and in...
Income Tax : Punjab & Haryana HC affirms ITAT order, treating Chandan Gupta's share sale gain as unexplained income (Sec 68) due to bogus trans...
Income Tax : ITAT Mumbai upholds treating Ratnakar Pujari's share sale proceeds as unexplained cash credit due to a previously established bogu...
Income Tax : ITAT Delhi hears Shikha Dhawan's appeal against LTCG denial on penny stock sale, deemed unexplained income. Accommodation entry al...
Income Tax : CBDT notification details income tax exemption for Mysore Palace Board. Covers income from palace, fees, rent from government agen...
Income Tax : CBDT notification clarifies that expenses to settle proceedings under SEBI, Securities Contracts, Depositories, and Competition Ac...
Income Tax : The Central Government notifies the National Mission for Clean Ganga as exempt from income tax under Section 10(46A), effective AY...
Income Tax : The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ｹ10 lakh, effectiv...
Income Tax : Latest income tax rule changes effective April 2025. Form 27EQ updated with new categories for tax collection at source on various...
Explore the Supreme Court ruling on reassessment based on unreliable evidence and the distinction between defective and invalid returns in Mangalam Publications Vs CIT case.
Discover differences between Self-Occupied Property (SOP), Deemed Let out Property (DLOP), and Let out Property (LOP) in house ownership. Navigate tax implications, rental incomes, and deductions for informed real estate decisions.
ITAT Delhi acknowledged the significance of jurisdictional facts and held that a quasi-judicial authority must decide the issue of jurisdiction when raised. The lack of a clear decision on jurisdiction prompted the ITAT to set aside the PCIT’s order and remand the matter for a fresh decision, including the preliminary issue of jurisdiction.
ITAT Mumbai quashes assessment order in Ghanshyam Sagarmal Modi vs. ACIT case. Non-appearance justified; CIT(A)’s ex-parte decision overturned.
CBDT notifies ITR-6 form for AY 2024-25. Companies who don’t have income from property held for charitable or religious purposes can use ITR-6 for filing their income tax returns starting April 1, 2024.
Explore the legal victory in M.K. Rajendran Pillai Vs ACIT as Madras High Court lifts property attachment following the annulment of assessment orders and tax liabilities.
Explore the legal intricacies as ITAT Mumbai delves into the dispute over undisclosed income, cash receipts, and the application of Section 69A in the case of Madhu Developers
Explore how Delhi HC stays the Income Tax Department’s order canceling Oxfam India’s tax exemption. Analysis of the judgment and its implications.
Madras High Court held that there is no limitation prescribed for compounding of the offences committed by an assessee u/s. 279(2). Thus, there cannot be any restriction/limitation for filing application for compounding of offence contrary to Section 279(2) of the IT Act, 1961.
ITAT Mumbai held that provisions of section 40A(2)(a) of the Income Tax Act are applicable in cases, wherein, the director of subsidiary company, to whom payment has been made, has substantial interest in the assessee.
