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Income Tax : Explore the impact of Tax Deducted at Source (TDS) on commercial business income in India. Detailed analysis, rates, compliance, a...
Income Tax : Delhi HC rules in PCIT Vs Pavitra Realcon Pvt. Ltd., ITA 579/2018, emphasizing the need for corroborative evidence in tax assessme...
Income Tax : Learn about the Madras High Court's landmark ruling quashing an income tax reassessment notice for a medical professional under Se...
Income Tax : Analysis of Sections 87A and 115BAC(1A) of the Income Tax Act, 1961, detailing their implications for taxpayers, including rebates...
Income Tax : Budget 2024 brings into focus the complexities and challenges surrounding presumptive taxation in India, particularly under sectio...
Income Tax : Direct tax collections for FY 2024-25, as of July 11, 2024, show a 23.24% increase compared to FY 2023-24, with notable growth in ...
Income Tax : KSCAA addresses technical issues in the Income Tax Portal, urging CBDT for prompt resolution to ensure smooth filing of returns be...
Income Tax : Join our webinar on July 24-25 for an in-depth analysis of Union Budget 2024. Learn about tax proposals, sector impacts, and inves...
Income Tax : AGFTC & ITBA urge Finance Minister to address Income Tax Portal issues, incorrect Section 87A relief interpretation, and extend IT...
Income Tax : Read ICAI's concerns about technical glitches in tax filing and payment systems. Understand the impact on taxpayers and solutions ...
Income Tax : Bombay High Court decision in CIT Vs Madhukar K. Inamdar H.U.F., addressing applicability of CBDT Circular dated 15-05-2008 on tax...
Income Tax : In the case of Mewar Hospital Pvt. Ltd. Vs ACIT (ITAT Jodhpur), Bench ruled no addition for explained demonetization currency depo...
Income Tax : Dhanpat Raj Khatri Vs ITO (ITAT Jodhpur) If the explanation based on accounts supported by affidavit is not controverted, no addit...
Income Tax : ITAT Jaipur quashes PCIT order in Yesh Dagas case, citing violation of natural justice principles. Key points of the judgment and ...
Income Tax : Gujarat High Court quashes Income Tax reassessment notice against Deepak Natvarlal Pankhiyani HUF, citing lack of fresh evidence s...
Income Tax : Explore the latest Income Tax notification (Notification No. 53/2024) by the Ministry of Finance. Detailed analysis of specified i...
Income Tax : CBDT directs DGIT (Systems) to share income tax information with Telangana's Agriculture Department as per Section 138(1)(a) of th...
Income Tax : Discover the latest Income Tax Act notification under section 138 for Telangana by the Ministry of Finance. Details on the designa...
Income Tax : Explore the latest guidelines for issuing notice under Section 148 of the Income Tax Act, 1961. Understand key procedures, amendme...
Income Tax : CBDT order allows delayed tax payments under DTVsV Act conditions, easing compliance for taxpayers. Details on Form-3 modification...
It is trite that under guise of power vested in Revenue to reassess an income which had escaped assessment upon production of fresh tangible material, it cannot be allowed to exercise power of review.
Read the full text of the ITAT Delhi order in Durga Fire Work Vs ITO case for AY 2017-18. Learn why Delhi ITAT ruled cash deposits during demonetization as non-taxable.
Read the full text of the order by ITAT Bangalore on Mudur Vyavasaya Seva Sahakari Sangha Ltd’s appeal against CIT(A)’s decision. Detailed analysis on eligibility under Section 80P(2)(D).
Gujarat High Court grants Alembic Ltd Rs. 4 crore income tax deduction under Section 80IA for their captive power plant. Read the full judgment and analysis here.
Kerala High Court rules on capital gains tax for transfer of depreciable assets in PVR Tourist Home Vs CIT. Read the full judgment and detailed analysis here.
Calcutta High Court rules in favor of Vodafone Idea Limited, stating no TDS is required on payments received by distributors/franchisees. Detailed analysis inside.
Section 54B of Income Tax Act provides relief to individuals or HUF who have transferred their agricultural land and wants to invest the capital gains in Purchasing another Agricultural land.
Slump sale is a concept that plays a critical role in restructuring and consolidation of businesses. Under Income-tax Act a slump sale involves transfer of one or more undertakings as a going concern, where the consideration for transfer is in form of a lump sum, without values being assigned to individual assets and liabilities.
Reopening of assessment beyond four-year limitation period invalid if AO fails to establish failure on the part of Assessee to fully and truly disclose all material facts necessary for assessment.
Read about the ITAT Mumbai’s ruling in AVTIL Enterprises Ltd Vs PCIT, where the invocation of section 263 was challenged for the AY 2017-18.
