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Income Tax : The article explains how India's Place of Effective Management (POEM) rules may treat a foreign company as an Indian tax resident ...
Income Tax : From 1 April 2026, TDS and TCS compliance shifts to new form numbers and section references under the Income-tax Act, 2025. Busine...
Income Tax : Understand who must undergo a tax audit under Section 44AB, the applicable turnover limits, audit forms, filing procedure, due dat...
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 : 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 : The ITAT Mumbai held that reassessment proceedings initiated on the basis of information arising from a search in the case of a th...
Income Tax : The Tribunal ruled that although CSR expenditure is not allowable under Section 37, eligible donations made to recognised institut...
Income Tax : The Tribunal held that penalty under Section 271D could not be levied because the Assessing Officer failed to record satisfaction ...
Income Tax : The Tribunal held that penalties under Sections 271D and 271E could not be sustained because the Assessing Officer failed to recor...
Income Tax : Smt. Pavithra Sugichandran Vs Office of the DCIT (Madras High Court) The Madras High Court considered six writ petitions challengi...
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...
Shri Parmod Kumar Sahai Vs ITO (ITAT Delhi) No reopening permissible on basis of invalid enquiry made under section 133 without approval of competent authority when no proceedings were pending We have perused second paragraph of the assessment order which refers to the inquiry made by the Assessing Officer before issue of notice u/s 148 […]
Facts of the Case Reliance Jio Infocom Limited (‘Reliance Jio’) is a Public Limited Company registered under Companies Act 2013. It is an Indian Telecommunication Company and a wholly-owned subsidiary of Reliance Industries, headquartered in Mumbai, Maharashtra, India. It operates a national LTE network with coverage across all 22 telecom circles. Reliance Jio filed a […]
Author in this article makes available relevant material so as to enable the reader analyse the impact of the Taxation Laws (Amendment) Act, 2019 which sets to replace the Taxation Laws (Amendment) Ordinance, 2019.
Salaried taxpayers form a major chunk of the overall taxpayers in the country and the contribution they make to the tax collection is quite significant. Income tax deductions offer a gamut of opportunities for saving tax for the salaried class. With the help of these deductions and exemptions prescribed under Income Tax Act, 1961, one […]
Taxation Committee of the Bombay Chartered Accountant’s Society (BCAS) has submitted a Representation dated 19th December 2019 to the CBDT Chairman Shri Pramod Chandra Mody on processing the returns of Income for AY 2019-2020 under Section 143(1)(a) of the Income-tax Act, 1961. Relevant Text of the same is as follows:- Bombay Chartered Accountant’s Society Harnessing […]
Acuity Holdings Pvt. Ltd. Vs DCIT (ITAT Mumbai) Undisputedly, the subject premise in respect of which the assessee has claimed the rental expenses has been taken on lease by the assessee. Though, in the leave and license agreement, it is mentioned that it has been taken on lease for the use of residence of directors/employees, […]
Re-assessment even if in case where return was not scrutinized before the income chargeable to tax had escaped before acceptance originally could not be made unless AO has reason to believe that the income chargeable to tax had escaped, therefore, for mere verification or for fishing inquiry, reopening of assessment was not permissible.
Section 206AA does not override provisions of section 90(2) and in case of payment made to non-resident, assessee correctly applied rate of tax prescribed under concerned DTAAs and not as per section 206AA because provisions of the DTAAs were more beneficial and DTAA acquired primacy in such case.
Bindal Smelting Pvt. Ltd. Vs Additional Director General, Directorate General of GST Intelligence (Punjab & Haryana High Court) In the given case the petitioner is manufacturing lead ingots, red oxide and grey oxide. On 27.03.2018, officials of Respondent/GST Directorate searched premises of the Petitioner and during search seized record. The Respondent time to time directed […]
Nortel Networks India Pvt. Ltd. Vs DCIT (ITAT Delhi) In the instant case, the assessee has offered Explanation as why the transaction of loss of security was claimed as business loss. This Explanation has not found to be false by the Assessing Officer. Further, the assessee substantiated the Explanation by way of filing relevant documents […]
