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...
1. The “reasons to believe” in an income escaping assessment (section 148 read with section 147 of the Act) is one of the most important piece of document. It is the foundation stone with respect to the validity of the entire reassessment proceedings. “Reason to believe” is the document which requires careful consideration and it […]
Bajaj Foods Ltd Vs The ITO (ITAT Ahmedabad) Undeniably the interest paid to Barclays Bank by the assessee has been added to the income of the assessee for non deduction of tax at source thereon as per section 195 of the Act treating the said Bank to be a non redident. The order of the […]
Amendment brought by Finance Act, 2021 to section 36(1)(via) and 43B is only prospective in nature and not retrospective and the same to be effective from 1-4-2021 and will apply for and from the assessment year 2021-22 onwards.
DCIT Vs Lotus Logistics & Developers Ltd (ITAT Mumbai) In this case ITAT was hearing the dispute related to addition for unexplained cash credit received in the form of share capital under section 68. ITAT observed that on the same issue in a large number of decisions of the coordinate benches held that once all […]
DCIT Vs Dakshin Haryana Bijli Vitran Nigam Ltd. (ITAT Delhi) The only dispute in this appeal is with regard to the addition of Rs.328,69,90,916/-, on account of non-inclusion of “surcharge accrued/levied on electricity bills yet not realized during the year” in the assessee’s total income. ITAT held that There is no dispute over the fact […]
ITO Vs Kirit Raojibhai Patel (ITAT Mumbai) Sale of transferable development rights did not attract capital gains tax since the cost of acquisition for the same did not exist. Held: AO held that transferable development rights (TDRs) arising out of an existing land was an immovable property, the transfer of such TDRs amounted to transfer […]
Prism Networks Private Limited Vs ACIT (ITAT Bangalore) The Hon’ble Tribunal held that the DRP has not considered the plea of assessee in proper perspective. The fact that the TPO rejected the TP Study of the Assessee cannot be the basis not to consider the claim of the Assessee for inclusion of comparable companies. The […]
Penalty proceedings in cases where pendency could not be created on ITBA because of technical reasons or cases not having a PAN, as the case may be.
In the absence of a statutory provision the duty cannot be cast upon legal representative to intimate factum of death of assessee to department and thus, where AO issued a notice to the assessee under Section 148 of the Act after his death and in such a case it could not have been validly served upon the assessee the said notice being invalid is required to be quashed
ACIT Vs Viacom 18 Media Pvt. ltd. (ITAT Mumbai) The assessee has made payment for transponder service fees to three entities namely (1) intelsat Corporation, USA, (2) Intelsat global sales and marketing, UK and (3) MEAST satellite system, Malaysia. Assessee applied for an order u/s 195 (2) for Nil withholding tax certificates for payment of […]
