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Income Tax : Bombay High Court rules on tax evasion by Buniyad Chemicals, addressing unexplained credits, money laundering, and regulatory acti...
Income Tax : Understand the New Income Tax Bill 2025, key policy changes, structural revisions, and interpretation methods. Learn how these upd...
Income Tax : Article explores effectiveness and influence of Bilateral Investment Treaties (BITs) on FDI flows with particular emphasis within ...
Income Tax : Learn about deductions allowed under Section 57 of the Income Tax Act, 1961, for income from other sources, including family pensi...
Income Tax : This blog explores the implications of this tax policy, the distinction between games of skill and chance, the applicability of Ta...
Income Tax : CBDT invites stakeholder suggestions on simplifying Income Tax Rules and Forms under the Income Tax Bill, 2025. Submit feedback vi...
Income Tax : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...
Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...
Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...
Income Tax : The Income Tax Bill 2025 aims to simplify tax laws with no major policy changes. It enhances clarity, reduces ambiguities, and ali...
Income Tax : ITAT Ahmedabad dismisses ITO's appeal against Sun Gold Capital Ltd due to low tax effect under CBDT Circular 09/2024. Key issues i...
Income Tax : Analysis of ITAT Ahmedabad's ruling in Rakesh Saxena Vs PCIT. The tribunal upheld the revision order, treating VRS benefits as tax...
Income Tax : Madras High Court quashes assessment order citing lack of proper notice and violation of natural justice for a non-resident taxpay...
Income Tax : Bombay HC quashed Trent Ltd.’s tax refund adjustment under Section 245 of the IT Act, citing a violation of natural justice. Rev...
Income Tax : ITAT Pune dismisses revenue appeal, upholding CIT(A)'s decision that a tax reassessment based on a cancelled PAN was invalid....
Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...
Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
ITAT Raipur held that addition towards unexplained investment unsustainable as AO failed to place on record any material which would conclusively establish that the said society was a benamidar of the assessee. Accordingly, addition based on bald allegation couldn’t be accepted.
ITAT Delhi held that payment of compounding fee for violation of provision under the Motor Vehicles Act, 1988 and Rules are allowable as business expenditure under section 37(1) of the Income Tax Act.
ITAT Raipur held that assessee company was entitled for depreciation on WDV on consideration that was paid by it and not on WDV that was lastly shown by CSEB, before its disintegration.
ITAT Ahmedabad held that imposition of penalty under section 271(1)(c) of the Income Tax Act unjustified as denial of claim of deduction u/s 80HH/ 80IA doesn’t tantamount to concealment of income and/or furnishing of inaccurate particulars of income.
ITAT Surat held that addition towards cash deposited during demonetization period unwarranted as booking of railway tickets were allowed by way of old currency notes. Here, cash were received from various travelers for booking of railway tickets.
ITAT Delhi held that addition under section 68 of the Income Tax Act confirmed as assessee grossly failed to discharge initial burden of explaining and proving credit entries in the books of account.
ITAT Mumbai held that assessing officer passed final assessment order u/s 144C(13) r.w.s 143(3) without passing a draft assessment order u/s 144C(1), said order being violative of provisions of Sec. 144C(1) deserved to be set aside.
Delhi High Court held that the reasons disclosed for re-opening do not allude to the material that was available to the AO which persuaded him to form a belief that income had escaped assessment. Hence, prerequisite before entering the realm of reassessment/assessment proceedings not met. Accordingly, addition not sustainable.
Read the full text of the order of ITAT Kolkata in the case of Anirudh Bhuwalka vs DCIT. The ITAT upheld the non-granting of TDS benefits due to non-deposition of TDS in the assessees income.
इकहरा लेखा प्रणाली में निम्न प्रकार की रिकॉर्डिंग शामिल हो सकती हैं (एकल प्रविष्टि पुस्तकों के प्रकार): ए. कुछ लेन-देन के संबंध में दोहरी प्रविष्टि, उदाहरण देनदार और लेनदार (केवल व्यक्तिगत खाते) आदि और शेष सभी लेनदेन के लिए एकल प्रविष्टि।, बी. लगभग सभी लेनदेन के संबंध में दोहरी प्रविष्टि और कुछ लेनदेन के संबंध […]
