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Income Tax : Increasing use of RERA data by tax authorities makes alignment between project disclosures and income tax reporting essential to a...
Income Tax : Taxpayers are facing confusion following the introduction of the Income-tax Act, 2025. The key clarification is that income earned...
Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...
Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The dispute concerned whether dividend received on capital reduction by a foreign subsidiary could trigger restrictions under Sect...
Income Tax : The ITAT Pune held that a genuine claim for exemption under Section 10(20) cannot be rejected merely because the assessee mistaken...
Income Tax : The ITAT Mumbai held that when the reason recorded for reopening an assessment does not ultimately result in any addition, the Ass...
Income Tax : The Mumbai ITAT held that an addition under Section 68 cannot be made solely on the basis of a retracted statement alleging accomm...
Income Tax : The Mumbai ITAT held that Section 263 cannot be invoked merely because the Assessing Officer accepted income without making an add...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Explore conflicting rulings on whether bonafide mistakes in disclosing foreign assets under the Black Money Act can avoid penalties under Section 43.
From October 1, 2024, certain Indians must obtain a tax clearance certificate before traveling abroad to ensure all tax obligations are met.
Budget 2024 brings significant changes to capital gains tax with new rates, holding periods, and amendments to key sections. Effective dates start October 2024.
Calcutta High Court stays notice under Section 148 of IT Act issued by Jurisdictional AO for AY 2017-18, citing jurisdictional issues. Awaiting exchange of affidavits.
Calcutta High Court dismisses revenue’s appeal challenging assessment order due to non-compliance with Section 151(ii) approval requirements.
Calcutta HC dismisses PCIT appeal on bogus share loss, finding no grounds for reconsidering ITAT’s order in Zulu Merchandise Pvt Ltd case.
Assessee was a non-profit organization registered under Section 25 and was approved U/s.10(23C)(iv). The main activity of the council was to promote exports of leather industries.
Calcutta High Court dismisses IT department’s appeal against ITAT ruling after NCLT approves resolution plan for Srei Infrastructure Finance Limited.
Learn how gifts and benefits received in business, like non-cash items, are taxed under Section 28(iv) of the Income Tax Act. Understand the rules and avoid surprises.
This petition under Article 226 of the Constitution of India assails the Assessment Order dated 27 March, 2024 passed by Respondent No.2 under the provisions of Section 144 read with Section 144B of the Income Tax Act, 1961.
