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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 Kolkata invalidates reassessment of Neena Commercial Pvt. Ltd. due to vague reasons and lack of jurisdiction for new addition...
Income Tax : ITAT Mumbai rules that penalty under Section 271(1)(c) of the Income Tax Act cannot be levied on ad-hoc estimated income, dismissi...
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 : 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...
Comply with India Income Tax rules and regulations with December 2023 Compliance Calendar. Fulfill your civic duty & avoid fines by filing taxes on time.
Explore the detailed analysis of Antony Alphonse Kevin Alphonse vs ITO case at Madras High Court. Uncover the assessment challenges, legal proceedings, and the court’s decision.
In the Rajendra G. Parekh vs ITO case, ITAT Mumbai restricts additions to 0.05% of gross total, questioning the handling of bank accounts and involvement in bogus business activities.
In a recent case, ITAT Guwahati ruled on ‘Income other than business/profession mismatch,’ setting aside the assessment order. Detailed analysis of the decision.
Bombay High Court quashes assessment order, directs JAO to provide specific information for Section 148A(b) notice. Detailed analysis and implications of the judgment.
Bombay High Court’s landmark judgment nullifies Income Tax assessments for AY 2016-2017, citing improper sanction under Section 151(i) instead of Section 151(ii) of the Income Tax Act 1961. Read the full text and implications.
Explore the JCIT vs S.V. Balasubramani HUF case at ITAT Chennai. Learn why bonus payment disallowance under section 40A(3) of the Income Tax Act was challenged and the outcome of the appeal.
Explore the Supreme Court judgment on Commissioner of Customs vs. Godavari Drugs Ltd. as it dismisses the customs appeal, citing increased monetary limits according to the CBIC Circular.
ITAT Chandigarh held that initiation of reassessment proceeding merely on the fact that AO has not carried out independent enquiries of confirmations from the creditors, without pointing out any deficiency or inaccuracy, cannot be a base to hold that order was erroneous in so far as prejudicial to the interest of revenue. Accordingly, reassessment unsustainable.
Explore the rules and challenges of Domestic Transfer Pricing (DTP) in India. Learn about legal definitions, threshold limits, applicability, Arm’s Length Price, documentation, issues, and techniques.
