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Income Tax : Understand eTDS return corrections, the six-year revision limit, and challenges in claiming TDS credit. Learn how tax adjustments ...
Income Tax : Explore our analysis on including Company Secretaries as Accountants under the Income-Tax Bill 2025. Benefits include improved com...
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 : 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...
Dive into the analysis of Steril-Gene Life Sciences’ appeal against DCIT’s treatment of forex loss as capital expenditure. Understand the impact on machinery cost and depreciation.
Explore the legal intricacies of Anil Kumar Khetawat case vs. ACIT. Uncover how a jurisdictional flaw in issuing notice under section 143(2) renders the assessment proceedings void.
Explore the case of Mahesh Arvind Tilve vs. PCIT (ITAT Mumbai) where the validity of the assessment is questioned. Assess the jurisdictional challenges and the significance of cash transactions.
The undisputed position that emerges is that the assessee has received short-payment against invoices from various transport undertakings. The same is evident from the ledger extract furnished by the assessee. Undisputedly, these undertakings are the customer of the assessee and the shortfall of amount so received by the assessee has been claimed as bad-debts / discounts.
Explore the Harpreet Singh Grover vs. ITO case at ITAT Amritsar. Analysis of cash deposit controversy, CIT(A) decision, and ITAT’s order for de novo adjudication.
Explore the Orissa Power Transmission Corporation Ltd vs. ACIT case at ITAT Cuttack. Analysis of interest income, business vs. other sources, and prior period expenses.
Explore the ITAT Mumbai decision in Ramavatar Mandavewala vs. JT.CIT regarding the applicability of penalty under Section 271AAB for undisclosed cash. Detailed analysis and conclusion.
Lateef Abdul Mohd. successfully challenges ITAT Hyderabad decision on cash deposit addition during demonetization, citing sales correspondence and legal precedent.
Alpha Corp Development files writ petition for prompt decision on rectification applications and refund. Delhi HC directs Revenue to act within eight weeks.
ITAT ruled that when sales are not in doubt, then 100% disallowance for bogus purchases cannot be made and relied on Hon’ble jurisdictional High Court in Nikunj Eximp Enterprises Pvt Ltd 372 ITR 619 (Bom) and Principal Commissioner of Income-tax vs M. Haji Adam & Co Income Tax Appeal No.1004 of 2016 dated 11/2/2019.
