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Income Tax : While tax avoidance is legal and involves strategic tax planning, tax evasion is illegal and constitutes fraudulent activities to ...
Income Tax : Understand whether director remuneration is taxed as salary or business income. Learn about tax implications, employer-employee re...
Income Tax : Explore major income tax updates for FY 2025-26, including revised tax slabs, TDS/TCS rules, rebates, and benefits for startups. S...
Income Tax : Analyzing if increased TDS thresholds and reduced rates enhance taxpayer liquidity or just shift tax payments to advance tax. Read...
Income Tax : Overview of Income Tax Sections 69A, 69B, on unexplained income, investments, and expenditures. Key cases and interpretations incl...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...
Income Tax : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...
Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...
Income Tax : ITAT Pune held that delay in filing audit report in Form 10CCB due to technical problem is justifiable and hence denial of claim u...
Income Tax : ITAT Jaipur held that amount of sundry debtor recorded in books of account are not any money, bullion, jewellery or other valuable...
Income Tax : Aadhunik Infrastructure Development Pvt. Ltd. Vs DCIT (ITAT Pune) The Income Tax Appellate Tribunal (ITAT), Pune Bench “A,” ha...
Income Tax : ITAT Nagpur rules in ITO Vs N. Kumar Housing, addressing ₹5.2 crore addition under Sections 41(1) and 68. Liability cessation an...
Income Tax : ITAT Pune rules in Ramchandra Jadhavrao vs. ACIT that no penalty under Section 271(1)(c) applies if income is declared in return p...
Income Tax : Details of the Lok Sabha Select Committee's sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence ...
Income Tax : CBDT updates income tax rules and forms for business and securitization trusts. Notification 17/2025 amends Rules 12CA & 12CC, imp...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
Held that TDS not deductible when neither any patent or copyright was used by the assessee against which the royalty was paid nor there was any technical know-how made available to the assessee.
Held that addition u/s 68 unsustainable as all the necessary documentary evidences in support of genuineness of share capital submitted by the assessee.
Held that non-compete fees, being an intangible asset, paid in accordance with the terms of the agreement is eligible for depreciation u/s 32
Held that since the receiver has failed to establish the creditworthiness of the lender and genuineness of the transaction, addition u/s. 68 as unexplained cash credit sustainable.
Article 226 of the Constitution of India confers very vide powers on High Courts to issue writs but this power is discretionary and the High Court may refuse to exercise the discretion if it is satisfied that the aggrieved person has adequate or suitable remedy elsewhere.
Interest on late payment of TDS u/s. 201(1A) is interest on income tax & such interest cannot be claimed as a deduction.
As per Section 199 r.w. Rule 37BA(3), credit for TDS shall be allowed by AO in the year when the income has been offered by the assessee.
AO get jurisdiction over return of income only upon service of section 143(2) notice, meaning thereby so AO cannot scrutinize return of income
There was no need for filing this appeal due to subsequent ITAT order & Income Tax department expresses regret for filing infructuous appeal
Section 54 Cost of new residential house includes cost of land construction materials labour & other cost of construction of residential house
