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Income Tax : Tribunal ruled that Section 12AB(4) does not provide powers to cancel Section 12A registrations, and the notices issued were inval...
Income Tax : Explore income tax benefits for senior citizens in India, including tax slabs, exemptions, deductions, and key provisions under th...
Income Tax : One of the most infamous tax evasion cases in India is the Sahara India tax evasion case, which highlights the legal implications ...
Income Tax : Learn how to save tax under the new tax regime with standard deduction, employer NPS contributions, and tax-free retirement benefi...
Income Tax : Compare surcharge rates under the new and old tax regimes. Learn how income thresholds impact tax liabilities for individuals and ...
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 Ahmedabad deletes addition of ₹6.16 lakh under Section 69A for unexplained jewellery, considering joint ownership of locker...
Income Tax : ITAT Mumbai ruled on Dev Engineers Vs DCIT, deleting penalties under Sections 271(1)(c) and 271AAB. Additions were based on estima...
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 : 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...
Kerala High Court rules: Limitation period of 3 years under Section 149(1)(a) of Income Tax Act not applicable when income escaped assessment exceeds Rs.50 lakhs. Full judgment analysis here.
ITAT Ahmedabad allows TDS deduction for Adroit Structural Engineers Pvt. Ltd. on income offered to tax, despite non-reflection in Form 26AS. Full judgment analysis here.
Discover the ITAT Hyderabad’s ruling on assessing cash deposits outside the relevant assessment year in the case of Rakesh Reddy Keshanna Vs ITO.
Kerala High Court directs a fresh decision by Principal Chief Commissioner of Income Tax as prior order overlooked petitioner’s written submissions. Full judgment details here.
ITAT Chennai’s ruling on government subsidies as capital receipts in DCIT Vs Saint-Gobain India Pvt. Ltd., impacting investment promotion.
Analyzing the Ardmore Construction Ltd v HMRC case on the UK’s “source” principle in taxation, highlighting the court’s stance on income origin for tax purposes.
Uncover the Bombay High Court’s stance on reassessment based on change of opinion in the Mira Bhavin Mehta Vs ITO case. Key insights and legal implications.
Kerala High Court directs Income Tax Department to consider stay petition in penalty proceedings initiated under Section 271A against Wexco Homes Pvt Ltd.
Gujarat High Court’s decision on Shyamlal Rupchand Parwani vs ACIT, rejecting interference at the Section 153C notice stage and emphasizing legal procedure.
ITAT held that taxation should be based on real income. It found that the AO’s attempt to tax hypothetical income was unjustified. Furthermore, it was established that the credit note adjustments made for benchmarking purposes were legitimate and in accordance with the tax provisions.
