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Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...
Income Tax : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...
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 : 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 : 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 Agra held that confirming penalty under section 271B of the Income Tax Act before finalization of quantum assessment is unjus...
Income Tax : ITAT Delhi held that provisions of section 68 or 69A of the Income Tax Act for cash deposit during demonetization period unjustifi...
Income Tax : Delhi High Court held that suo moto disallowance with bona fide yet mistaken belief that amount is liable to be offered for taxati...
Income Tax : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....
Income Tax : ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
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...
The Ahmedabad ITAT overturned a decision by the CIT(A), ruling in favour of Ketan M. Chalishazar HUF on an error made by his broker during a share transaction. The tribunal highlights the importance of accurate code modifications.
In the case of Rammohan Kordale vs ACIT, ITAT Bangalore held that money transferred between assessee’s joint bank accounts cannot be classified as unexplained money under Section 69A of Income Tax Act.
Read an in-depth analysis of the Ishoo Narang Vs ACIT (ITAT Hyderabad) case. The ITAT upheld a penalty levied due to non-compliance with a notice under section 271 of the Income Tax Act.
A significant ITAT Kolkata ruling declares no penalty for delayed filing of books of account due to reasonable causes under Section 273B of Income Tax Act, 1961. Explore the details of this precedent-setting case.
In a significant ruling, ITAT Delhi sets aside the exparte order against Maha Singh, allowing a fresh evaluation of unexplained cash deposits following due principles of natural justice.
Review the details and consequences of the ITAT Ahmedabad’s ruling in Jetalpur Seva Sahkari Mandali Limited vs DCIT that income from commercial activity cannot be claimed as a deduction under Section 80P of the Income Tax Act.
Finance bill 2023 introduced amendments to the angel tax provisions. The amendments extended the scope of angel tax to include the issuance of shares by Companies having Common Heritage Certificates (CHCs) to non-resident investors.
Explore ITAT Chennai’s recent ruling in MRS Jewellery Vs DCIT, where they partly upheld the AO’s assessment of excess stock, creating a significant impact on the taxation of jewellery businesses.
ITAT Delhi held that more specific plea and explanation ought to be given by an assessee for discharging burden u/s 69B of the Income Tax Act to explain jewelry beyond that mentioned in Wealth Tax Return.
The ITAT Chennai ordered for the re-adjudication of capital gain assessment in the case of P. Selvamani Ranjithan vs ITO, emphasizing the responsibility of the assessee to prove non-accrual of capital gains.
