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Income Tax : Plan your finances before March 31 with this year-end tax checklist. Learn about old vs. new tax regimes, investments, deductions,...
Income Tax : Delhi HC ruled WGF Financial Services can't claim bad debt deduction under Sec. 36(1)(vii) as furnishing guarantees wasn't its reg...
Income Tax : Switzerland halts the unilateral application of the MFN clause under its tax treaty with India from 2025, following the Indian Sup...
Income Tax : Explore 151 FAQs on Finance Bill 2025, covering tax provisions, IFSC benefits, TDS/TCS, transfer pricing, and more for informed fi...
Income Tax : Compare GST and Income Tax search and seizure processes, highlighting key differences in scope, authority, and taxpayer rights. Le...
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 Bangalore held that that mens rea is not an essential condition for imposing penalties under civil acts. Penalty u/s. 270A of...
Income Tax : Bombay High Court held that passing of ex-parte order without affording a reasonable opportunity of being heard to the assessee is...
Income Tax : Bombay High Court held that reopening of assessment without fresh tangible material based upon mere change of opinion is unsustain...
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 : 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...
Dinesh Agarwal Vs ACIT (Calcutta High Court) Considering these facts, HC was of the considered view that this case clearly falls under the amended Act relating to proceedings under section 147 of the Act under which issuance of notice under section 148A of the Act is mandatory before issuing any notice under section 148 of […]
Armstrong Pure Water Services Pvt. Ltd. Vs Union of India (Bombay High Court) Petitioner should have been proactive and promptly communicated the stay granted by this Court to the Assessing Officer so that he would have had enough time to make enquiries with his Advocate and also check on the website about orders passed. In […]
Integrated Finance Company Limited Vs ACIT (ITAT Chennai) The ld. Counsel for the assessee has submitted that the assessee company, being under liquidation, was under strenuous pressure of running behind the Hon’ble High Court and public depositors as well as bond holders for consolidation and recover the dues with lack of sufficient staff and thereby […]
Poosabban Thangaraju Vs ITO (ITAT Chennai) On perusal of the Form 5 dated 25.03.2021 issued under VSVS by the Designated Authority for both the assessment years, we find that the Form 5 has been issued for full and final payment of ₹.6,250/- as taxes in terms of VSVS order under section 5(2) dated 05.02.2021 pertains […]
It is settled law that exclusion or inclusion of one or other comparable would by itself not constitute a question of law unless it is shown that there are important functional dissimilarities or vital material facts which go to the root of profitability or where other material circumstances are involved.
We find that in view of Section 14 of IBC 2016 no proceedings can continue against the corporate debtor during the pendency of insolvency proceedings.
Esteem Finventures Limited (Now Kapedome Enterprises Limited) Vs ACIT (ITAT Delhi) ITAT is of considered opinion that the ld. CIT(A) has confirmed the addition by stretching too far the rules of prudence. The Ld. AO himself observed in the order that the services engaged were from top most legal professionals. If that was the view […]
B. Braun Medical (India) Private Limited Vs DCIT (ITAT Mumbai) ITAT deletes Transfer Pricing (TP) Adjustment as TPO adopts Wrong Gross Profit (GP) Margin of Comparable Company The assessee raised an additional ground before the Ld. DRP stating that the gross profit margin of ADS Diagnostics Ltd., had been wrongly worked out by the Ld. […]
PCIT Vs Madhur Mittal (Delhi High Court) The scope of jurisdiction in Section 260A is very well settled. It is a settled proposition that ITAT is the final arbiter of the facts. High Court can interfere in the order of the ITAT only if there is substantial question of law or there is manifest illegality […]
Easily navigate the process of filing the Statement & Certificate of Section 80G Donation using Form 10BD for the FY 2021-22. Learn about due dates, required details, filing steps, and penalties for non-compliance. Stay informed about the new norms for a transparent deduction process under Section 80G.
