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Income Tax : Compare GST and Income Tax search and seizure processes, highlighting key differences in scope, authority, and taxpayer rights. Le...
Income Tax : Krishna, as in March the end of the financial year approaches, many people start thinking about how to save more tax. After all, a...
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 : 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 : Delhi High Court directs tax authorities to review show-cause notices uploaded before 16 January 2024 and develop remedial measure...
Income Tax : Bombay High Court upholds AO's addition for unverified bogus purchases in PCIT vs. Kanak Impex. Decision based on Section 69C and ...
Income Tax : ITAT Delhi quashes penalty on Babu Ram u/s 271(1)(c) as barred by limitation. Penalty order dated April 1, 2022, violated extended...
Income Tax : ITAT Pune held that delay in filing of an appeal before CIT(A) needs to be condoned firstly by excluding COVID-19 pandemic outbrea...
Income Tax : ITAT Mumbai held that addition under section 69 towards unexplained cash made by the AO without bringing any concrete evidence on ...
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...
Learn how to read tax judgements like a pro. Get tips and advice for navigating complex legal documents and understanding their contents.
Giant Construction Company Vs DCIT (Madras High Court) The petitioner assails the communication dated 21.04.2022 by which the objections raised by the petitioner to the reopening of the assessment were rejected. The petitioner asserts that the impugned communication is in contravention of the amended Section 148-A of the Income Tax Act, 1961. Upon the insertion […]
Sanwalchand Udaychand Bafna HUF Vs ITO (ITAT Mumbai) From the order of learned CIT(A) it is evident that it is assessee’s contention that the amount received is actually arrears of interest. Hence, the sum cannot be considered as cash credit. The learned CIT(A) despite noting these facts has mechanically confirmed Assessing Officer’s order without any […]
Intelsat Corporation Vs ACIT (ITAT Delhi) Ld. AO erred in not appreciating that appellant being a resident of USA is covered by the beneficial provisions of DTAA between India and USA and accordingly, could not be taxed under the provisions of the Act. The Ld. Counsel for the assessee submitted that, the issues involved in […]
Net Direct Tax collections for the Financial Year 2022-23 grown at over 45% Net Direct Tax collections for the F.Y. 2022-23 continue to grow at a robust pace further fortifying the economic revival Gross Tax collections for the Financial Year 2022-23 grown at about 40% Advance Tax collections for F.Y. 2022-23 stand at Rs. 1,01,017 […]
Final order in the re-assessment proceedings is yet to be passed. Hence, the writ petition itself was premature and no relief could be granted thereof.
It is not at the whim or fancy of a tax authority to decide as to what constitutes ‘beneficial ownership’; it is absolutely fundamental that as what constitutes beneficial ownership must also be examined and categorical findings are given as to how these requirements of beneficial ownership are satisfied in the present case.
Tata Sponge Iron Limited Vs DCIT (ITAT Cuttack) The fundamental requirement of showing the income from “eligible” unit in the gross total income is mandatory which was not complied by the assessee in order to claim deduction u/s.80IA of the amount equal to the income generated by the eligible unit. Facts- The appellant is company […]
Karcher Cleaning Systems Pvt Ltd. Vs ACIT (ITAT Delhi) The assessee is a pure trading company involved in the distribution activity without adding any value to the purchased product and hence the RPM is the most appropriate method. Facts- The assessee is a subsidiary of Karcher Beteilgungs GmbH which started its commercial activities on 16.04.2011 […]
Dr. Kalpana Alexander Vs. ACIT (ITAT Hyderabad) There is nothing to contradict the opinion of the learned PCIT that there is failure on the part of the learned Assessing Officer to make the minimum enquiry, let alone sufficient enquiry on this aspect. Assessment order held erroneous. Facts- The assessee is an individual, and a medical […]
