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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 : ITAT Raipur held that adding entire bank receipts without inquiries from parties is unjustified. Case remanded for further examina...
Income Tax : ITAT Kolkata remands Mohammad Amjad Ali Sahaji’s appeal on advance tax non-payment, directing fresh consideration by CIT(A) with...
Income Tax : SC refuses to hear NewsClick’s plea under Article 32 but grants one week relief against coercive action in income tax case. Peti...
Income Tax : ITAT Jaipur remands Nidhivan Foundation’s 12AB registration case to CIT(E) for reconsideration, citing curable defects and need ...
Income Tax : ITAT Bangalore deletes AO’s protective addition in LM Wind Power case, citing settled MAP proceedings on IT fees and commission ...
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...
In a crucial decision, ITAT Dehradun quashes reassessment in Uttarakhand Purv Sainik Kalyan Nigam Ltd vs. ITO case. Analysis of Section 151 approval absence and its implications.
Explore ITAT Delhi’s ruling limiting deemed dividend addition to shareholders. Details on assessment years 2013-14, 2014-15, and 2015-16. Full text analysis.
Form-10 under rule 17(2) for claiming exemption had been supplied to AO after the prescribed period but before completion of assessment, it ought to be considered by AO for granting benefit of exemption under Section 11(2) of the Income Tax Act, 1961 in original assessment proceedings. Accordingly, the entire process of reassessment that had been initiated by Department was without any legal basis whatsoever.
Even though the department had the authority to dispute the residential status of the assessee merely on the strength of the Tax Residency Certificate (TRC), it was incumbent upon the department to make a proper inquiry and to establish the fact that the party claiming benefit and the strength of the TRC was a shell or conduit company.
Reopening of the concluded scrutiny assessment was a serious business, therefore, senior officers like ACIT and PCIT were expected to apply their minds to such requests and, only after that, approve the initiation of reassessment proceedings.
Delhi High Court analyzes Tribunal’s decision in PCIT vs Nirmal Kumar Minda, upholding deletion of additions for jewellery, paintings, and wrist watches. Learn more.
Delhi High Court dismisses Section 153A proceedings in PCIT vs Oxygen Business Park case. Analysis of the impact on income tax assessments post-search. Learn more.
Delhi High Court rules that AO cannot trigger reassessment proceedings against additions already appealed. Full analysis of PCIT vs. Gautam Bhalla case.
Explore the detailed analysis of ITAT Ahmedabad’s order directing the reassessment of Form 10AB for 80G registration. Insights into the case of Best Buds Pet Care Vs CIT.
Delhi High Court deems proceedings invalid for representative assessee when principal taxpayer ceases to exist. Full analysis of CIT vs. Cairnhill Cipef Ltd.
