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Income Tax : The article explains how the Finance Acts, 2025 and 2026 have reshaped the Updated Return regime under Section 139(8A). It highlig...
Income Tax : The Supreme Court has remitted reassessment cases for fresh consideration after the retrospective insertion of Section 147A, leavi...
Income Tax : Learn the most frequent errors taxpayers make while filing Income Tax Returns for AY 2026-27 and how avoiding them can prevent not...
Income Tax : The article explains how the interaction of Section 87A, marginal relief, and Health & Education Cess can leave taxpayers earning ...
Income Tax : Learn who can apply for an advance ruling, applicable fees, withdrawal rules, and its binding effect under the Income-tax Act. The...
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 Ahmedabad admitted additional evidence relating to foreign remittances and restored the matter to the DRP for fresh adjud...
Income Tax : The ITAT Ahmedabad held that unexplained investment under Section 69 can be taxed only in the year the investment is actually made...
Income Tax : The ITAT Mumbai deleted a transfer pricing adjustment of ₹61.22 crore after finding the facts identical to an earlier assessment...
Income Tax : ITAT ruled that determining the arm's length price of management service fees at Nil without following a prescribed transfer prici...
Income Tax : The Court rejected the challenge to the search conducted under Section 132 and upheld the legality of the search proceedings. It, ...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
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...
As HUF cannot be a registered shareholder in a company and hence could not have been both registered and beneficial shareholder, loan/advances received by HUF could be deemed as dividend within the meaning of Section 2(22)(e) of Income Tax Act,
Post login menus of Income Tax E-Filing Website https://incometaxindiaefiling.gov.in/ has been restructured. The Functionalities under menus available post login to e-Filing portal are restructured for making better user experience.
Equalization levy may be a quick and easy way to tax digital transactions but is prone to many other complications and hence may not be the right solution from a long term perspective. This is also evident from the fact that though Equalization levy was discussed by OECD in its Action Plan for taxation of digital economy, it did not finally recommend this measure.
Cash deposits during the period 1st April, 2016 to 9th November, 2016 in respect of accounts that are reportable to be reported by Banks and Post Office.
The suggestions of Committee to Study Appellate Orders to Examine Filing of Appeals by Income Tax Department before Various Forums are based upon: i) Analysis of actual data collected by the Committee ii) Interaction with the officers of the Income Tax Department iii) Study of the Global Best Practices.
Report deals with 1. Issues that give rise to frivolous litigation. 2. Issues that impact the quality of representation and effective management of litigation. 3. Systemic issues impacting effective litigation management and how to deal with these issues.
In view of these glaring facts, the assessment of Smt. Jaya Agrawal and the fact that the relevant purchases for AY 2004-05 have been held to be genuine, we see no infirmity in the order of ld. CIT(A) in deleting these additions. On the issues of Shri Chokshi, Mahasagar Securities Pvt. Ltd. and Goldstar Finvest Pvt. Ltd., a catena of judgments from ITAT, Mumbai and Ahmedabad is available in favour of the assessee which view also stands confirmed by Hon’ble Bombay High court in the case of Shri Mukesh Moralia.
Govt’s measures to eliminate shadow economy and tax evasion are expected to have a positive impact on GDP and fiscal consolidation in long run
Time-barring date of scrutiny assessment was advanced to 31st December to provide assessment units with a dedicated quarter for recovery of demand raised.
Central Board of Direct Taxes signs three more Advance Pricing Agreements pertaining to the Engineering Goods and Shipping sectors. With this, the total number of APAs entered into by the CBDT reaches 120. The Central Board of Direct Taxes (CBDT) has started the year 2017 by entering into three unilateral Advance Pricing Agreements (APAs) today. […]
