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Income Tax : Understand the revised 2% TDS rate on rent from Oct 1, 2024. Learn the correct rate, avoid overpayments, and claim refunds for exc...
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 : 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 Delhi affirms PCIT’s order under Section 263, ruling AO’s assessment erroneous & prejudicial to revenue. Key precedents c...
Income Tax : ACIT vs Prashant Prakash Nilawar case where ITAT Mumbai dismissed Rs. 17 Cr addition based on WhatsApp messages without concrete e...
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 : 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 Ahmedabad case between Standard Radiators Pvt Ltd and ACIT, involving an inaccurate income penalty dispute related to interest expense misclassification
ITAT Hyderabad order, wherein Mohammed Rahimuddin successfully appeals the penalty u/s 271A due to estimation-based income addition.
In Ram Kishan Vs ITO case, ITAT Delhi ruled that no addition u/s 69A of Income Tax Act when income source was appropriately explained during assessment.
In this article, we will guide you through the step-by-step procedure of paying your income tax online at Time of Filing of ITR For Individuals using the official Income Tax website.
Read about dismissal of an appeal by ITAT Mumbai in case of BLPL Singapore Pvt Ltd Vs DCIT. Sssessee’s appeal against penalty order under Section 270A for non-disclosure of interest income was dismissed.
ITAT Kolkata held that depreciation is allowable on asset of the assessee if acquisition is claimed as application of income. Notably, after change in law in section 11(6), assessee has not claimed acquisition of property towards application of income while computing the total taxable income.
ITAT Amritsar held that rejection of application for registration u/s 12AB of the Income Tax Act unsustainable as there is no violation of section 13(1)(c) by paying remuneration to the full-time working trustee.
ITAT Delhi’s landmark judgement, which annulled late filing fee under Section 234E of the IT Act on grounds of limitation.
ITAT Amritsar’s ruling in Antony Madassery Vs DCIT case, discussing improper procedure in issuing income tax notices and deletion of penalties under sections 271(1)(b) and 272A(1)(b).
In ITO vs. Late Shri Chandi Ram, ITAT Jaipur upheld CIT(A)’s decision, recognizing arbitration and interest receipts from contracts executed in AY 1989-90 & 1990-91 as business income, taxable in AY 2012-13. Based on the jurisdictional High Court’s ruling, a net profit rate of 8.5% was applied, aligning with Supreme Court’s precedent on interest from delayed contract payments.
