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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...
Understanding Section 194R of the Income Tax Act – TDS on benefits or perquisite provided. Stay compliant with the new TDS regulations.
City Manager Association Ahmedabad Municipal Corporation Vs DCIT (ITAT Ahmedabad) Let us consider the scope of section 154 for making prima facie adjustment while processing return under section 143(1)(a) of the Act i.e. process of dealing with the return is an ex parte process. It is pertinent to observe that whenever any debatable issue is […]
Baxter India Private Limited Vs Addl. CIT (Delhi High Court) 1. Present writ petition has been filed challenging the impugned assessment order dated 31st March, 2022 passed for the Assessment Year 2016-17 under Section 147 read with Sections 144 & 144B of the Income Tax Act, 1961 (for short ‘Act’) as well as demand notice […]
Interglobe Entreprises Pvt. Ltd Vs ACIT (ITAT Delhi) A combined reading of Section 199(3) r.w. Rule 37BA(3) makes the position of law clear that credit for TDS is available in the year in which the income is reported and as a corollary, should not be deferred to some other assessment year. In the instant case, […]
Chandresh Luniya Vs ITO (ITAT Ahmedabad) The facts in brief are that the assessee in the present case is an individual and engaged in the activity of derivative business of shares and securities. In the present case it was found by the AO that the assessee has obtained the benefit of accommodation entries by way […]
Pur Opale Creations Ltd. Vs DCIT (ITAT Ahmedabad) It is an undisputed fact that the assessee has disclosed particulars of loss in sale of assets before the authorities below. Instead of treating a loss as capital loss the assessee has treated the same as business loss and therefore, it cannot be said to have not […]
Sanjeev Gajendra Pancholi Vs ITO (ITAT Ahmedabad) Perusal of the above gift deed shows that the donor viz. Shri Narendra Maganbhai Pancholi has sold piece of agriculture land from 28.3.2008 to 30.3.2008 and one agriculture land on 26.7.1999 aggregating to Rs.11,64,698/-. The donor claimed that this amount has been invested in private bank, shroff and […]
Ester Industries Ltd Vs ACIT (Delhi High Court) This Court is of the view that the petitioner/assessee has the right to get adequate time in accordance with the Act to submit its reply. It is pertinent to mention that Section 148A(b) permits the Assessing Officer to suo moto provide up to thirty day’s period to […]
CIT (TDS) Vs Tata Teleservices Ltd. (Delhi High Court) Whether the ITAT was correct in holding that no TDS under Section 194J of the Income Tax Act was required to be deducted by the assessee on payment of interconnect user charges as it could not be categorized as fee for technical services? Admittedly, the Karnataka […]
Harish Aswal Vs DCIT (ITAT Delhi) Ld. Counsel for the assessee submitted that the assessee has submitted all documentary evidences before the authorities below including ledger account of Centurian Bank Account No.442756061 available at page 108 to 138 of assessee’s Paper Book before the AO as well as before Ld.CIT(A) which clearly shows that the […]
