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Income Tax : The issue is frequent additions arising from poor handling of notices. It highlights that improper or incomplete responses lead to...
Income Tax : Establishes that higher tax burdens on promoters under the new regime require companies to reassess payout strategies. The takeawa...
Income Tax : Clarifies that revision under sections 264 and 378 is a taxpayer-friendly remedy where authorities cannot pass orders prejudicial ...
Income Tax : Clarifies that revision under both old and new tax laws requires proof of error and revenue prejudice. Mere disagreement with the ...
Income Tax : The issue addressed is fragmented and complex compliance for NPOs under earlier law. The new Act consolidates provisions and intro...
Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...
Income Tax : The government replaced the six-decade-old law with the Income-tax Act, 2025. The reform aims to simplify compliance through clear...
Income Tax : CBDT signed a record number of APAs to provide clarity on transfer pricing and reduce disputes. The framework ensures advance dete...
Income Tax : The Supreme Court held that the Kerala Agricultural Income Tax Act does not allow an amalgamated company to claim losses of the am...
Income Tax : A three-day delay in filing an appeal was rejected by CIT(A), but the tribunal held that minor delays should not defeat justice. T...
Income Tax : The Tribunal held that reopening under Section 147 was invalid where it was based on third-party search material. It ruled that Se...
Income Tax : Transfer of passive infrastructure (PI) assets under a court-approved scheme of demerger without consideration qualified as a gift...
Income Tax : The Tribunal held that a development agreement granting only a limited license for construction does not constitute transfer under...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
Income Tax : The corrigendum fixes an incorrect aggregation formula in Schedule CG and wrong cross-references in Schedule UD. It ensures accura...
Notification: S.O.2894 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, the prescribed authority for the purposes of clause (ii) o
Notification: S.O.4054 In exercise of the powers conferred by sub-section (2)(b) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Ranganatha Paduka Ashram
Notification: S.O.4052 It is hereby notified for general information that the approval given under section 35(1)(ii) of the Income-tax Act, 1961, to Sri Ganga Ram Trust Society, New Delhi, by notification No. 563 (F. No. 203/10/74-ITA.II) dated the 19th February, 1974, with effect from 1st April, 1973, is withdrawn with effect from 1st April, 1973, on the recommenda
Notification: S.O.2648 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, the prescribed authority for the purpose
We have to ascertain whether there was any evidence or material before the Tribunal to estimate the profits. It is not disputed that the books of account of the assessee were not accepted. That being so, profit had to be estimated. Such estimate was made by the authorities on the basis of the performance of the predecessor-in-interest of the assessee
Notification: S.O.2893 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 of Income-tax Act, 1961. The institution shall send to the Indian Council of Social Science Research an annual r
Circular: No. 171-Income Tax In exercise of the powers available under section 49A of the 1922 Act, the Government of India had issued a Notification dated 24-3-1953 called the Income-tax (Double Taxation Relief) (Aden) Rules, 1953 providing for grant of relief in respect of income on which tax has been paid both in India and in Aden.
Circular: No. 172-Income Tax The position in respect of Ghana (formerly Gold Coast), Nigeria and Mauritius has since been ascertained. The Governments of these three countries have stated that after the date of attainment of independence by them, they do not consider that any agreement on the question of avoidance of double taxation of income subsists between them and the Government of India.
Notification: S.O.295(E) In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely :— This notification contains Amendment to Income-t
Circular : No. 170-Income Tax Reference is invited to Notification No. SO 2167, dated 28-5-1971 [printed above], of the Government of India, Ministry of Finance (Department of Revenue & Insurance), under which the deduction in respect of development rebate under section 33 was not to be allowed in respect of a ship acquired or machinery or plant installed after May 31, 1974.
