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Income Tax : Explore cryptocurrency taxation in India, including tax rates, GST ambiguities, compliance issues, and the need for a clear regula...
Income Tax : The Updated Income Tax Return (ITR-U) is a recent provision introduced under Section 139(8A) of the Income Tax Act, 1961. This pro...
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 : 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 : Section 263 could not be used merely to impose a different view on the estimation rate. Since the declared income exceeded the pre...
Income Tax : Telangana High Court sets aside ITAT's remand to CIT(A) in a penalty case, emphasizing the Tribunal's duty as a final fact-finding...
Income Tax : Gujarat High Court held that reopening of assessment is based on change of opinion since exact entry which was already scrutinised...
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 : 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...
Explore the NCLAT Delhi judgment on Income Tax Department’s dispute over Rs.26,06,41,424 allocation in Resolution Plan. Analysis, implications, and key insights revealed.
Explore the Supreme Court judgment on PCIT Vs PNB Housing Finance. Learn why disallowance of expenditure for earning exempt income can’t be treated as business expenditure under Section 14A.
Delhi High Court grants relief to Travelport LP USA as it upholds CIT’s 15% revenue attribution to PE in India. Full text and analysis of the judgment.
In a recent search operation in Odisha, Jharkhand, and West Bengal, Income Tax Department reveals staggering tax evasion of a group involved in liquor, healthcare, and education businesses.
Explore how the Indian Ministry of Finance leverages technology and reforms to reduce taxpayer interactions, streamline assessments, and promote cooperative incentives.
Bombay HC clarifies bank guarantee vs. corporate guarantee distinctions in Everest Kento Cylinders case. Ruling impacts income tax computation.
Explore the landmark ITAT Delhi ruling in Finesse Intl. Design Pvt. Ltd. vs. DCIT. CBDT Circular violation deems assessment order invalid. Know more!
Manesh Dayashankar Madeka Vs ACIT: Supreme Court emphasized the need for a fresh hearing due to retirement of Presiding Judge and lack of reasons the previous disposition.
Explore the Delhi High Court judgment on Penalty u/s 271(1)(c) of Income Tax Act for AY 2014-15. Detailed analysis and legal insights on inaccurate particulars. Read more.
ITAT Jaipur held that initiation of penalty proceedings u/s. 271AAB(1A) of the Income Tax Act without specifying the ground and default on the part of the assessee and also without specifying the undisclosed income on which penalty was proposed to be levied is unsustainable-in-law.
