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Income Tax : Explore the tax implications for IPL players, including income tax for Indian and overseas players, TDS rates, and the role of DTA...
Income Tax : Explore the taxation framework for startups in India, including tax holidays, ESOPs, and angel tax exemptions under the Income Tax...
Income Tax : New Application for Condonation of Delay in Filing Forms 9A, 10, 10B, and 10BB Post 18th November 2024 as per Circular No. 16/2024...
Income Tax : India-Switzerland MFN clause suspension may cost $100 billion in Swiss investment, raising tax rates on dividends and impacting th...
Income Tax : SC clarifies reassessment notices under TOLA and Finance Act 2021 in Union of India v. Rajeev Bansal. Learn how decision impacts t...
Income Tax : Government decriminalizes minor direct tax offences, simplifies compliance, and improves litigation management. Key changes includ...
Income Tax : PAN 2.0 focuses on process upgrades for taxpayers with no mandatory new PAN card. Existing cards remain valid. Estimated cost: ₹...
Income Tax : CBDT's electronic campaign helps taxpayers fix mismatches in income and transactions for FY 2023-24 and 2021-22. Revised ITRs can ...
Income Tax : KSCAA raises concerns and provides suggestions for improving the Direct Tax Vivad Se Vishwas Scheme 2024 to the CBDT....
Income Tax : The government responds to queries on corporate tax, including notices, prosecutions, and collections over the past five years....
Income Tax : The assessee is a souharda cooperative society duly registered under the Karnataka Souharda Sahakari Act, 1997 and is engaged main...
Income Tax : ITAT Ahmedabad held that addition towards undisclosed receipts not sustainable since the amount stand reconciled. Accordingly, ord...
Income Tax : Madras High Court granted stay on payment of 10% of tax demand since the respondent/ department failed to furnish proof against al...
Income Tax : Delhi High Court held that in case of investment in two residential properties, exemption under section 54F of the Income Tax Act ...
Income Tax : Assessee had given reasons that as per the previous counsel, late Shri R.R. Jain (C.A.) had given advice no separate appeal agains...
Income Tax : Circular No. 19/2024 offers clarifications on the eligibility and settlement under the Direct Tax Vivad Se Vishwas Scheme, 2024....
Income Tax : CBDT amends Notification No. 44/2020 under Section 10(23FE) of Income-tax Act. Changes take effect from publication in the Officia...
Income Tax : Notification designates special courts in Tamil Nadu under the Income Tax Act, 1961, and Black Money Act, 2015, for specific distr...
Income Tax : The Ministry of Finance grants approval to IIIT Hyderabad for scientific research under the Income Tax Act, effective from 2024-25...
Income Tax : Overview of steps in the ITBA Assessment Module for passing assessment orders, including income computation, feedback, and order g...
ITAT Delhi remands penalty under Section 271AAB for reassessment, linking it to reconsidered quantum addition. Fresh proceedings ordered for compliance.
Learn about common irregularities in tax audit reports for AY 2023-24, including reporting gaps in Forms 3CA/3CB, SA 700, and sections 40A, 269SS, and 269T.
ITAT dismisses Revenue’s tax appeal due to jurisdiction issues, allowing the revenue to approach the appropriate bench for further action.
ITAT partly allows agricultural income claim for Jesal Jatin Desai but upholds disallowance of a portion due to lack of evidence.
ITAT restores the matter to AO for fresh assessment, allowing the assessee to submit additional evidence in Simmi Madan v. ITO case.
As a result, assessee was required to deduct TDS on payments made to Bemo. AO invoked Section 40(a)(i) for non-deduction of tax on Rs. 12,69,79,006, disallowing the deduction.
Delhi High Court held that initiation of reassessment proceedings beyond period of 3 years from end of relevant A.Y. quashed since escaped assessment is below threshold limit of Rs. 50 Lakhs. Thus, petition allowed and order quashed.
Section 144C of IT Act, 1961 was brought through Finance Act, 2009 & introduced for orderly assessment with respect to the international tax case along with transfer pricing. Under this after serving a notice under it a draft assessment order would be given under which recipient shall receive chance of representation during dispute redressal for assessment before such assessment being made final.
Calcutta High Court quashes assessment order due to procedural lapses and improper service of notices, emphasizing compliance with Section 282 of the Income Tax Act.
ITAT Ahmedabad remands case to CIT(E) for fresh hearing, citing lack of natural justice in ex-parte order on Masani Meldi Sadhana Foundation’s registration appeal.
