Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.
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 Mumbai rules on Nickunj Eximp case: Disputes over bogus purchases, demonetization cash deposits, and assessment procedures....
Income Tax : The Delhi High Court quashed a tax reassessment notice issued to Indus Towers Ltd. for AY 2009-10, citing procedural lapses and mi...
Income Tax : ITAT Mumbai condones a 314-day delay in Atlantic Bio Medical Pvt. Ltd.'s appeal, citing a bona fide mistake in tax filing and a ri...
Income Tax : Gujarat High Court rules that a jurisdictional assessing officer cannot override the faceless assessment scheme under Section 151A...
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 : 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...
Schneider Electric South East Asia (HQ) PTE Ltd Vs ACIT (Delhi High Court) Mere mention of ‘misreporting’ for denying immunity from penalty, manifestly arbitrary; Notice without ‘specific limb’, unreasonable Delhi High Court allows Schneider Electric’s writ petition, quashes order rejecting immunity under Section 270AA(4) and directs Revenue to grant immunity from penalty under Section 270A; […]
. Respondent nos.4 and 5 shall also explain why the concerned officer, who is delaying the refund, should not be penalized in as much as why he should not be directed to pay the interest from his pocket on the refund. We note this because though petitioner will be getting refund with 6% interest, it is public money that is being used to pay the interest.
CBDT amends Income Tax rule 2F, rule 8B and introduces new FORM NO. 5B – Application for notification of a zero coupon bond under clause (48) of section 2 of the Income-tax Act, 1961 and Form No. 5BA – Certificate of an accountant under sub-rule (6) of rule 8B vide Notification No. 28/2022-Income-Tax Dated: 6th April, 2022. MINISTRY OF […]
Assessee purchasing the software from ‘Microsoft company’ and as per terms of the agreement with ‘Microsoft’ having no right to reproduce or to make any change in ‘off the shelf software’ and therefore, the question of passing a right by the Assessee to its customers does not arise.
Regarding applicability of provisions of section 194Q and 206C(1H) of Income Tax Act, 1961 w.e.f 01.04.2022. 206C(1H): Every person, being a seller, who receives any amount as consideration for sale of any goods of the value or aggregate of such value exceeding fifty lakh rupees in any previous year, other than the goods being exported […]
SH. Inder Pal Singh Bedi Vs ACIT (ITAT Delhi) Bench is of considered opinion that a presumption of truth is attached to the record of proceedings conducted by public authorities as reflected in their orders though the same is rebuttal. The assessee had the opportunity to rebut the findings of Ld. Assessing officer with regard […]
Jaibharat Mandal Ramlila and Dharmshala Society Vs ITO (ITAT Delhi) Learned counsel for the assessee insisted that in the absence of any order of refusal of registration by the Competent Authority, the assessee trust may be treated as deemed to have been registered u/s 12AA of the Act. In support of this deposition learned counsel […]
Realization Stock & Equity Pvt. Ltd. Vs. ITO (Calcutta High Court) One of the reasons for reopening of assessment is that no regular assessment under Section 143 (3) of the Act was made in the instant case and even in the last paragraph of the said reason again it has been recorded again that no […]
Vishal Ashwin Patel Vs ACIT (Supreme Court of India) We have gone through the respective orders passed by the High Court dismissing the writ petitions. Having gone through the orders passed by the High Court dismissing the writ petitions, it can be seen that the said orders are cryptic, nonspeaking and nonreasoned orders. From the […]
Gaurav Controct Co. Through Hiralal Shivgan Dholu Vs National Faceless Assessment Centre (Gujarat High Court) The subject matter of challenge is the legality and validity of the assessment order dated 30.07.2021 passed by the Assessing Officer under Section 143(3) read with Section 144B of the Income Tax Act, 1961 for the A.Y. 2018-19. It appears […]
