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Income Tax : This article provides an in-depth analysis of India's tax brackets, key deductions, and recent amendments to income tax laws, help...
Income Tax : This blog explores the chargeability of Income from Other Sources (IFOS) under Section 56, its scope, types of income covered, tax...
Income Tax : This blog explores critical tax implications impacting gig workers in India, offering insights into relevant legal provisions, pot...
Income Tax : Despite Section 115BAC(1A) introducing slab rates for AOPs, CPC and tax utilities continue applying outdated rates, causing confli...
Income Tax : Learn the key differences between Previous Year and Assessment Year in taxation. Explore their definitions, importance, and role i...
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 : Rajasthan High Court quashes IT notice against Prateek Bulls and Bears Pvt Ltd due to lack of evidence linking bank account to the...
Income Tax : ITAT Hyderabad rejects Papaiah Pulipati’s appeal due to an inordinate 10+ year delay, citing lack of justification and Supreme C...
Income Tax : ITAT Pune held that when no addition has been made on account of which the case was reopened, the Assessing Officer cannot make an...
Income Tax : ITAT Jodhpur ruled in favor of Arun Agarwal, allowing exemption under Section 54B for agricultural land sale, emphasizing that par...
Income Tax : ITAT Delhi rules in favor of the assessee, allowing Section 54F deduction despite builder delays. Revenue’s appeal dismissed cit...
Income Tax : Details of the Lok Sabha Select Committee's sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence ...
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...
Trak Services (P) Ltd. vs. ITO (ITAT Delhi) – Analysis of ITAT’s order deleting addition on sale consideration of shares. AO’s role and legal references discussed.
Uttam Dairy Staff Co-operative Credit & Supply Society vs. AO – ITAT Ahmedabad upheld deduction under Section 80P despite delayed filing due to Govt. Auditor. Analysis here.
Read how ITAT Mumbai ruled in favor of KVR Infra in a case involving inflated cost of a crane in an agreement for higher banking loan. Detailed analysis here.
Detailed analysis of ITAT Delhi’s decision in the case of Tourism Finance Corporation of India Ltd. vs. ACIT regarding the allowability of expenditure for business expansion.
Analysis of ITAT Chennai’s decision in Smt. Saraniyaa Karthick vs. ITO regarding the estimation of addition on account of cash deposits during the demonetization period.
Analysis of ITAT Chandigarh’s ruling on service of notice in income tax cases, emphasizing the importance of proper notification to taxpayers.
In a landmark decision, ITAT Delhi rules no penalty under 271(1)(c) for a bonafide assessee who revised and added interest income. Analysis of Pramila Tarneja Vs DCIT case.
ITAT Chennai held that addition based merely on presumptions and assumptions and without allowing cross-examination is unsustainable in law and liable to be set aside.
ITAT Mumbai held that initiation of reassessment proceedings under section 147 of the Income Tax Act based on the information received from the investigation wing is valid and sustainable in law.
ITAT Delhi held that the date of dispatch from the adjudicating officer is relevant for determining the limitation period. Accordingly, assessment order dispatched beyond time limit prescribed u/s. 153(1) is barred by limitation.
