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Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
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 Pune rules that late filing of Form 67 does not bar foreign tax credit under Section 90. Read about the case of Shashank Sada...
Income Tax : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...
Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...
Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...
Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
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...
Introduction: Circular No. 15 of 2023, issued by the Central Board of Direct Taxes, offers comprehensive insights into the intricate details of the guidelines under Clause (10D) of Section 10 within the framework of the Income-tax Act, 1961. This circular takes an in-depth look at the recent amendments, critical provisions, and exemptions associated with sums […]
ITAT Hyderabad held that Transactional Net Margin Method (TNMM) was the most appropriate method in the absence of a Comparable Uncontrolled Price (CUP) which is applicable to the payment of technical service fee which is in nature of intangibles.
Analysis of Jay Shree Tea And Industries Limited Vs ACIT in Calcutta High Court. Judgement on delay in approaching writ court, AY 2013-14. Full text.
Explore why amortizing preliminary expenses over 5 years is unjust for businesses. Urgent appeal to lawmakers for immediate tax reform to support startups and level the playing field
Income Tax (I-T) department has wrapped up its extensive investigation into insurance companies, exposing a staggering tax evasion totaling over Rs 15,000 crore.
Learn about Mar Baselius Orthodox Syrian Church vs CIT(Exemption) case where ITAT Surat discusses charitable activities of trusts and application of section 13(1)(b).
Read about the Vinod Textiles vs ACIT case where ITAT Ahmedabad discusses the claim of depreciation on a motor vehicle registered in a partner’s name.
Calcutta High Court ruling on invoking writ jurisdiction under Section 148A(d) of the Income Tax Act in Tezas Trading Co. case. Read the judgment here.
Read the analysis of the Tata Aig vs CIT case where ITAT Mumbai discusses revisionary powers under Section 263 and assessment errors.
Calcutta High Court ruling on the issue of assessee harassment due to change to a faceless system in Income Tax appeal. Read Park Leather Company’s case.
