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Income Tax : Compare surcharge rates under the new and old tax regimes. Learn how income thresholds impact tax liabilities for individuals and ...
Income Tax : Compare the New and Old Tax Regimes for FY 2025-26. Learn about tax rates, exemptions, deductions, and which regime suits your inc...
Income Tax : Appeal against penalty under Section 271(1)(b) citing ill health, lack of awareness of Faceless Scheme, and procedural lapses. Req...
Income Tax : Learn about Income Tax Act Section 147 assessment proceedings: reasons for reopening, notice issuance, objections, assessment proc...
Income Tax : Understand the differences in residential status under the Income Tax Act and FEMA for Indians working abroad. Know tax implicatio...
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 Delhi rules that interest on enhanced land acquisition compensation under Section 28 is part of compensation, not taxable inc...
Income Tax : ITAT Chennai rules that RRB Energy Ltd. cannot be used as a comparable due to negative margins and functional differences in a tra...
Income Tax : Supreme Court dismissed the Revenue’s appeal in ACIT vs Mamta Agarwal due to unexplained delay and lack of merit. Delhi HC rulin...
Income Tax : ITAT Pune rules that the tax department cannot deny exemption under Section 11 for non-filing of the original 12A certificate when...
Income Tax : ITAT Ahmedabad restores Section 10AA deduction despite late Form 56F filing, citing procedural compliance. Read about the case and...
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...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
Read the full text of the order of ITAT Bangalore in Ambika Ghorpade Vs ACIT case, discussing disallowance u/s 14A of Income Tax Act and expenses under section 37(1).
Ahmedabad ITAT quashes Sec 263 order in Soham Buildcon vs PCIT-3 case, citing absence of twin conditions for exercising power under the provision. Full text analysis provided.
Kerala HC directs Income Tax Department to halt recovery proceedings until disposal of stay petition in Koothery Narayanan Vijayan’s case against assessment order.
Delhi ITAT ruling on Manish Kumar Mittal Vs ITO case clarifies treatment of cash-in-hand from business profits declared under Sec 44AD, preventing it from being added as unexplained money.
Explore how DCIT vs. Claris Lifesciences Limited case sets precedent for setting off deemed short-term capital gain on sale of depreciable against long-term capital loss.
ITAT Ahmedabad overturns AO’s decision, ruling that penny stock sale cannot be treated as unaccounted income if the purchase is genuine. Details of the case and verdict provided.
In a case involving share purchase discrepancies, ITAT Mumbai directs the AO to re-calculate tax liabilities after verifying relevant documents. Full text of the order provided.
ITAT Ahmedabad held that amount received as confirming party on sale of right is considered as receipts on sale of capital asset and accordingly, income is held as income from long term capital gain.
ITAT Indore held that assessment done after considering replies/ submissions of the assessee cannot be said to be faulty. AO has taken a plausible view after considering replies/ submissions and hence revisional jurisdiction u/s. 263 of the Income Tax Act not warranted.
The mere receipt of funds from M/s Solvent Real Estate Pvt. Ltd. did not constitute tangible evidence of income escapement by the assessee. Despite efforts by the assessee to provide explanations and evidence, the AO failed to conduct independent inquiries and relied solely on the information received.
