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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 : New TDS Rules Under Section 194T: Impact on Taxpayers & Businesses – Effective from 1st April 2025 Introduction The Finance ...
Income Tax : Explore the economic impact of AI, automation, and recession on India. Understand how income tax laws may evolve to address unempl...
Income Tax : Ensure tax compliance before March 31, 2025. Key tasks include filing returns, verifying TDS, updating accounts, and making necess...
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 : Advocate Amardeep Soni & Advocate Harsha Soni Gemplus India Pvt. Ltd. Vs ACIT (ITAT Bangalore) A Case Study of ITAT BANGALORE...
Income Tax : Karnataka High Court rules on TDS applicability under Section 195 of the Income Tax Act in the case of Abbey Business Services Ind...
Income Tax : ITAT Delhi rules that Section 50C adjustments cannot be made under Section 143(1) without referring valuation disputes to the DVO,...
Income Tax : ITAT Pune rules no addition under Section 69 if investment source is disclosed in the balance sheet. Partial relief granted for un...
Income Tax : ITAT Cochin remands Thrissur Co-op Society’s demonetization cash deposit case to CIT(A) for a fresh decision on merits after ex-...
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...
Income Tax : Learn about high-risk CRIU/VRU case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA port...
Tax Authorities have fallen in error in holding that assessee required to pay TDS @10% towards common area maintenance charges.
HC held that ITAT was justified in deletion of addition in respect of provision for dam maintenance for five dams being RHEP, Rangali, BHEP, Balimela, UKHPE, Barinut, HPS, Burla and UIHEP, Mukhiguda
Neelam Nitin Sankhe Vs CIT (ITAT Mumbai) The only reason for making addition of Rs.27.00 lacs in Assessment Year 2013-14 and Rs.5.00 lacs in Assessment Year 2014-15 is that the name of assessee appeared in some document found during the search action in the case of Ameya Group(supra). There is nothing on record to further […]
Commencement of reassessment proceedings while the scrutiny assessment proceedings were on.10.1 Petitioner had taken an objection in that regard, which seems to have escaped the mind of the AO while passing the order under Section 148A(d) of the Act.
Return of income so filed was late by one minute. Therefore, deduction claimed by assessee under section 80IA(4) of Act was denied by CPC
ACIT Vs Mahavir Infracon Pvt. Ltd. (ITAT Raipur) Admittedly, it is a matter of fact borne from record that the assessee company which is engaged in the business as that of a developer, had in order to promote its sales incurred expenses towards stamp duty and registration fees with respect to the properties sold by […]
Discover key deductions under Chapter VIA of the Income Tax Act, 1961, including Section 80C, 80D, and 80G. Learn how to optimize your taxable income and benefit from various investment and insurance-related deductions.
Gujarat High Court held that in respect of the proceedings where the first proviso to Section 149(1)(b) is attracted, the benefit of the Taxation and Other Laws (Relaxation And Amendment of Certain Provisions) Act, 2020 (TOLA 2020) will not be available to the revenue.
ITAT Delhi held that co-ordinate bench in assessee’s own case in earlier assessment years duly hold that Huawei India is permanent establishment of Huawei China in India. Based on norms of judicial discipline the same is implied in the present assessment too.
Calcutta High Court held that Tribunal duly examined the terms and conditions of the agreement and found that warranty clause is in-built. Accordingly, provision of warranty is duly allowable.
