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Income Tax : The article explains how multinational digital companies generate substantial revenue from Indian users while shifting profits to ...
Income Tax : The Income Tax Department’s new TDS payment system under the Income Tax Act 2025 allows multiple TDS payments through a single c...
Income Tax : The new Income Tax Act, 2025 significantly reduces the number of statutory sections and reorganises tax compliance procedures effe...
Income Tax : The New Income Tax Act, 2025 replaces multiple TDS and TCS provisions with consolidated Sections 392, 393 and 394 effective from F...
Income Tax : Article explains important Income Tax Return (ITR) filing due dates for Financial Year 2025-26 relevant to different categories of...
Income Tax : The updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
Income Tax : The data shows a steady increase in net direct tax collections driven by higher corporate and non-corporate tax revenues. It highl...
Income Tax : The issue highlights delays caused by non-binding timelines in appellate proceedings. It proposes mandatory limits to ensure faste...
Income Tax : The issue was complexity in the existing tax law. It was clarified that the new Act simplifies structure by reducing sections and ...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : The Patna ITAT upheld rejection of a trust’s Section 12AB registration after finding that the trust deed permitted application o...
Income Tax : The High Court held that documents received through official international channels carry presumption of genuineness but must stil...
Income Tax : ITAT Delhi held that Section 69A could not be invoked where the Assessing Officer himself accepted that transactions were recorded...
Income Tax : The Mumbai ITAT held that exemption under Section 54F has to be given effect before applying set-off provisions under Section 70(3...
Income Tax : The Supreme Court dismissed the challenge to a Bombay High Court order condoning delay in filing Form 10B audit report under the I...
Income Tax : The consolidation into Form 121 introduces stricter documentation and reporting obligations. The decision emphasizes accountabilit...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
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...
An assessment under section 23(3) of the Act cannot be made only on bare suspcion. An assessment so made without disclosing to the assessee the information supplied by the departmental representative and without giving any opportunity to the assessee to rebut the information so supplied and declining to take into consideration all materials which the assesses wanted to produce in support of his case constitutes a violation of the fundamental rules of justice and calls for the powers under Art. 136 of the Constitution.
CIT v. S Sen & Others (Orissa High Court) 17 ITR 355 (Orissa) The proceeding arises out of two application consolidated because of the facts being identical, by the Commissioner of Income-tax/Excess profits Tax, Bihar and Orissa, under Section 66(1) of the Income-tax Act read with Section 21 of the Excess profits tax Act for the stating a case and a case stated for the opinion of this Court on the following three question of law :-
