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Income Tax : Learn how international transactions are taxed under India’s Income Tax Act, including DTAAs, transfer pricing, TDS provisions, ...
Income Tax : Discover the latest updates from Union Budget 2025, including revised tax slabs, withdrawal of Section 206AB, higher deductions, a...
Income Tax : Kedar Jagdish Mankar Vs ACIT (ITAT Pune) Adv. Sachin P. Kumar successfully represented his client in Foreign Tax Credit dispute be...
Income Tax : Union Budget 2025 overlooked critical tax compliance issues, including TDS on partners’ salary, delays in appeals, marginal reli...
Income Tax : The Finance Bill 2025 rationalizes tax loss carry forward rules under M&A by limiting it to 8 years from the original computation ...
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 Mumbai invalidates reassessment in Ramlal G Suthar vs. ITO due to improper approval under Section 151(ii) of the Income-tax A...
Income Tax : Bombay High Court quashes reassessment notices issued to a non-existent entity post-merger in City Corporation Ltd vs ACIT, citing...
Income Tax : Bombay High Court addresses Hiralal Malu’s plea for the return of seized jewelry, highlighting disputes between the tax departme...
Income Tax : ITAT Mumbai ruled on TVF Fund Ltd’s appeal regarding tax loss set-off under DTAA. Key issues include carry-forward losses, taxab...
Income Tax : Orissa HC examines TDS prosecution in D.N. Homes case, focusing on COVID-19 delays and reasonable cause under Section 278AA of the...
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...
Income Tax : Finance Ministry designates key Income Tax Dept. IT systems as protected under the IT Act. Learn about restricted access and autho...
ITAT Ahmedabad held that addition u/s. 56(2)(vii)(b)(ii) of the Income Tax Act justified due to difference stamp duty value of the property and sale consideration. Accordingly, appeal of the assessee allowed.
ITAT Ahmedabad held that interest income earned from business activity is classifiable as business income and accordingly, relevant expenses allowed as deduction. Hence, appeal of the assessee allowed.
Karnataka HC decision on transfer pricing adjustments and Section 92BA amendments in the PCIT vs TT Steel Service India Pvt. Ltd. case.
Stay updated on TDS/TCS filing due dates for FY 2024-25 and download the latest RPU (v5.4) and FVU (v8.9). Key changes and assistance details included.
ITAT Ahmedabad held that interest received by co-operative society from SBI, which is a Nationalized Bank, is not allowable as per the section 80(P) of the Income Tax Act. Accordingly, AO directed to carry out proper adjudication and verification.
The date on which AO passed the above order was 28.11.2019; therefore, re-opening of case for AY.2011-12 is time barred as per the clear provisions of section 150(2) of the Act. Hence, the direction of the CIT(A) is not in accordance with law and is liable to be quashed.
ITAT Surat held that in absence of any corroborative evidence with regard to payment of amount mentioned in sauda chitti, assessee is not entitled to claim enhanced cost of acquisition and hence appeal of the assessee dismissed.
ITAT Mumbai held that additional claim of deduction of bad debts under section 36(1)(vii) of the Income Tax Act filed during the course of assessment other than filing a revised return is allowable. Accordingly, appeal of the assessee allowed.
ITAT Mumbai held that notice for re-assessment proceeding under section 148 of the Income Tax Act issued on a non-existing entity i.e. merged entity is void ab initio and hence is liable to be quashed.
Taxpayers face TDS demands post Aadhaar-PAN linking despite compliance. Key issues include undue demands, lack of redressal, and rising litigation concerns.
