Corporate Law : Explore the Prevention of Money Laundering Act (PMLA), its implications, recent amendments, and the role of financial professional...
Corporate Law : Dive into the nexus between Electoral Bonds and money laundering in India, exploring legislative challenges, compliance requiremen...
Income Tax : This type of black money primarily originates from illegal cash transactions. These funds often end up in foreign banks, making it...
Income Tax : Explore implications of Black Money Act on foreign assets and income for residents. Understand disclosure requirements, penalties,...
Income Tax : Explore the rules, tax implications, and measures against black money in real estate transactions. Understand the impact on the in...
Income Tax : Explore Income Tax Department's advisory on reducing cash transactions. Learn about societal, individual, and national factors dri...
Goods and Services Tax : GST Council recommended that State can decide on imposition of requirement of e-Way bill for intra-state movement of gold & preci...
Income Tax : Undisclosed credits of Rs. 20,353 crore detected with respect to 930 India linked entities in Panama and Paradise Paper Leaks As o...
Income Tax : As on 31.05.2021, assessment orders under section 10(3)/10(4) of the Black Money Act, 2015 have been passed in 166 cases, wherein ...
Income Tax : Media reports allude to the fact that the figures reported are official figures reported by banks to Swiss National Bank (SNB) and...
Income Tax : Read Madras High Court's judgment granting 45 days to obtain bank statements for tax case under Black Money & Income Tax Act....
Income Tax : Delhi High Court allows NRI businessman to travel, quashing the LOC opened for investigation under the Black Money Act, setting co...
Income Tax : Explore Delhi High Court's decision allowing the revenue to challenge Black Money Act proceedings in PCIT vs. Ashok Kumar Singh. D...
Corporate Law : Delhi High Court held that PayPal is liable to be viewed as payment system operator and obliged to comply with reporting entity ob...
Income Tax : In the case of Vikash Marda Vs Union Of India, the Calcutta High Court instructs CIT(A) to expedite pending appeals concerning ass...
Corporate Law : Explore 2023 updates to Prevention of Money-laundering (Maintenance of Records) Rules. Learn how these changes impact trust, contr...
Income Tax : CBDT notifies Special Courts in Odisha vide Notification No. 127/2022-Income Tax | Dated: 26th December, 2022 under Black Money ...
Income Tax : Designation of the Courts in the Himachal Pradesh Special Courts for the purposes of section 280A of the Income tax Act, 1961 and ...
Income Tax : Notification No. 68/2022- Income Tax- Designation of Courts in Uttarakhand as Special Court for the purposes of section 280A of t...
Income Tax : Vide Notification No. 44/2022-Income Tax, Dated: 22.04.2022 CBDT designates Court in the State of Madhya Pradesh as the Special C...
Explore 2023 updates to Prevention of Money-laundering (Maintenance of Records) Rules. Learn how these changes impact trust, control, and reporting.
Delhi High Court held that PayPal is liable to be viewed as payment system operator and obliged to comply with reporting entity obligation as placed under PMLA
In the case of Vikash Marda Vs Union Of India, the Calcutta High Court instructs CIT(A) to expedite pending appeals concerning assessments made under the Black Money Act.
Learn about Benami properties, their definition, motive, and legal implications. Explore examples of Benami transactions and the consequences for Benamidars and Beneficial Owners.
Delhi High Court quashes the penalty order issued under Black Money Act, citing the department’s failure to consider assessee’s email.
The penalty was levied for the non-disclosure of a life insurance policy held outside India in the income tax return. The ITAT ruled that the non-disclosure was a bonafide mistake and that the policy had been surrendered in the previous financial year.
Explore the potential pitfalls and opportunities of the new income tax amnesty scheme. Learn how to convert black money into white without facing taxes. Understand the implications for individuals and the economy.
Krishna Das Agarwal Vs DDIT/ADIT (Inv.) (ITAT Jaipur) Black Money Act – Company Is a Separate Legal Entity and The Assessee Cannot Be Held to Be Beneficial Owner Ipso-Facto Due to Majority Shareholding / Directorship.- FULL TEXT OF THE ORDER OF ITAT JAIPUR These bunch of five appeals consist of one appeal filed by the […]
Addl. CIT Vs Tejal Ashish Mehta (ITAT Mumbai) The assessee has furnished a copy of Income Tax return for assessment year 2016-17. A perusal of the same shows that in Schedule – EI, wherein the assessee was required to declare exempt income, the assessee has duly reflected the maturity value of the insurance policy. The […]
ITAT held that once additions been made under Black Money Act the same addition cannot be made under Income Tax Act on the same set of facts
