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Income Tax : Income may become tax-free under the new tax regime because of the standard deduction and Section 87A rebate, but ITR filing may s...
Income Tax : This article explains the key situations where filing an Income Tax Return is compulsory, even if income is below the basic exempt...
Income Tax : Learn about the income tax benefits available to resident senior and very senior citizens, including higher exemption limits, dedu...
Income Tax : Learn how different types of income tax assessments are conducted under the Income-tax Act. The FAQs explain assessment procedures...
Income Tax : This guide explains the taxation of capital gains, computation methods, capital assets, and transfer provisions under the Income-t...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
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 : ITAT Pune held that the reassessment proceedings were invalid because the notice under Section 148 was approved by the Principal C...
Income Tax : ITAT held that interest earned by a co-operative credit society from deposits with a co-operative bank remained attributable to it...
Income Tax : Bangalore ITAT held that allegations of capitation fee collections could not justify denial of exemption under Sections 11 and 12 ...
Income Tax : ITAT Pune held that reassessment proceedings were invalid because the approval under Section 151 was granted by the Principal Comm...
Income Tax : ITAT Delhi held that Section 56(2)(viib) could not be invoked where shares were allotted at a premium to a 100% holding company. T...
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...
Article explains What is Form-16 (Salary Certificate), What is the Due date to get Form-16 from employer, Contents of Form-16, Is it mandatory to file return of income even after deduction of TDS on Salary by Employer, Some FAQ’s related to Form 16, Due date of filing ITR for individual salaried person. 1. What is […]
In any assessment/-re-assessment there are various practical aspects involved which should be dealt with very carefully to make sure that the law is properly followed and any shortcoming of the revenue in issuing notices, obtaining approvals etc. should be duly highlighted in the assessment/-re-assessment proceedings.
L. R. Brothers Indo Flora Ltd. Vs. Commissioner of Central Excise (Supreme Court) The appellant being a 100% EOU and into manufacture of cut flowers, without obtaining the approval of the Development Commissioner and without maintaining the requisite net foreign exchange earning, made DTA sales to the extent of Rs.38,40,537/ during 1998-99 to 200001 (upto […]
Mrs. Kamal Murlidhar Mokashi Vs. ITO (ITAT Pune) Capital Gain-Purchased 4 Adjacent Residential Flats- Can Claim Exemption U/S 54F (With Provisions of Section 54F) In this article I will discuss some clarification (with the judgment of a recent case law) regarding the provisions of Section 54F i.e. Exemption from Capital Gain on purchase of Residential […]
ITO Vs. Aravali Prime Consultants Pvt. Ltd. (ITAT Jaipur) In this case, it is noted that the AO during the course of assessment proceeding made the addition of Rs. 2,63,15,000/- (138500 shares x Rs. 190 per share) on account of share premium received on issue of shares by the assessee company. Thus the AO observed […]
Vishnu Tambi Vs DCIT (ITAT Jaipur) Under Section 271(1)(c) of the Act, the authority has been given discretion to levy the penalty in case there is a concealment of particulars of income and also with regard to quantum of penalty. However, it is a basic need of the provisions of law that definite finding is […]
The issue under consideration is whether agreement for construction of house interpreted as agreement for purchase for availing benefits of deduction u/s 54F if construction completed within three years?
The issue under consideration is whether the CIT is correct in restricting the disallowance u/s 69C against bogus purchase at rate of 12.5% of the bogus purchases?
DCIT Vs Jugal Kishore Garg (Derewala) (ITAT Jaipur) The ld. CIT(A) observed that it is evident that the surplus being referred to by the Ld. AO is not profit from the projects but the receipts of ‘on money’ credited to the capital accounts of the partners which has been considered in the additional income offered […]
1.1 Faceless assessments: A Paradigm Shift towards Digital & Anonymous Tax Administration!! Well Yes Friends, FACELESS ASSESSMENTS have become a REALITY now… Our Hon’ble PM Sh. Narendra Modi has launched a new platform for Transparent Taxation for ‘Honouring the Honest Taxpayers’, coining three new terms viz. Seamless, Painless & Faceless, for showcasing the perceived changed […]
