Income Tax : Budget 2024 introduces significant amendments in trust-related provisions under the Income Tax Act, including registration timelin...
Income Tax : Learn about the amendment to Clause 22 of Form 3CD under Section 43B(h) and its impact on reporting requirements for payments to M...
Income Tax : Discover the intricacies of Income Tax Returns (ITR) in India, from types of forms to required documents and compliance measures, ...
Income Tax : Explore Section 119(2)(b) of the Income Tax Act, allowing CBDT to condone delays in ITR filing due to genuine hardships. Learn pro...
Income Tax : Understand the process of condonation under Section 119(2)(b) for filing returns with genuine hardship. Learn about the time limit...
Income Tax : Learn about the tax implications on haircuts taken by banks and creditors for companies resolved under the Insolvency and Bankrupt...
Income Tax : Explore the Lok Sabha query on technical glitches in the IT portal and TRACES. Learn about processing delays, PAN-Aadhaar issues, ...
Income Tax : The CBDT awards the Taxnet 2.0 project to Bharti-Airtel Ltd, enhancing the IT Department’s digital infrastructure with secure, r...
Income Tax : Read the inaugural address from Ravi Agrawal, the new Chairman of CBDT, outlining his vision for enhancing tax administration in I...
Income Tax : Read CAASs recommendations for fair tax audit allocation, ensuring auditor independence and quality. They suggested automated allo...
Income Tax : ITAT Kolkata held that CIT has not applied his mind analytically while assuming jurisdiction for taking cognizance under section 2...
Income Tax : ITAT Ahmedabad held the Discounted Cash Flow Method [DCF method] adopted by the assessee for valuing the CCPS is legitimate and in...
Income Tax : Delhi High Court held that once the Tribunal had called upon the AO to examine the issue afresh, the said direction could not have...
Income Tax : Rajasthan High Court held that section 119(2)(b) of Income Tax Act read with CBDT Circular No.09/2015 dated 09.06.2015 clearly ref...
Income Tax : Read the full judgment of Umang Mahendra Shah Vs Union of India by Bombay High Court, ruling that an order under Section 148A(d) w...
Income Tax : CBDT notifies Karnataka State Natural Disaster Monitoring Centre for tax exemptions on specific incomes. Effective for AY 2021-22 ...
Income Tax : Income Tax Circular 08/2024 exempts higher TDS/TCS rates if deductee/collectee dies before PAN-Aadhaar linkage, addressing taxpay...
Income Tax : Read about the latest income tax notification specifying AIMCo India Infrastructure Pension Fund for tax exemption under section 1...
Income Tax : Ministry of Finance amends tax exemption notification, extending the eligible investment deadline to 31st March 2025 under section...
Income Tax : CBDT Notification 91/2024 extends the deadline for Section 10(23FE) tax exemptions to March 31, 2025. Discover the key changes and...
ITAT Kolkata ruled that TDS under section 195 is not required for foreign commission payments and liquidated damages are capital receipts, not taxable income.
Orissa High Court remits income tax matter back to PCIT after rejecting delay condonation applications in a cryptic manner. Detailed analysis of the case provided.
ITAT held that Indian Women Traditionally Keep Jewelry at Maternal Home for Various Reasons and CBDT instruction, where the status of the family and customs and practices of the community to which family belongs, permit an assessee to hold larger quantity of jewellery and ornaments out of the purview of seizure.
The Delhi High Court ruled that once a TPO issues an order, the AO must pass an assessment order per Section 92CA(4) of the Income Tax Act.
In the case of Karur Vysya Bank Ltd. vs. DCIT, ITAT Chennai rejects AO’s disallowance of stale drafts, citing precedent and banking business nature.
Calcutta High Court rules that a Joint Secretary’s letter cannot override the plain provisions of the Income Tax Act and Finance Act in the RBS N.V. vs CIT case.
Bombay High Court deems CBDT’s refusal to condone delay in filing revised ITR by CG Power post-NCLT order unreasonable. Detailed analysis of the case.
Bombay High Court rules IT search under Section 132 invalid if authorization is based on irrelevant and unrelated material. Detailed case analysis inside.
Learn how ITAT Chennai extended the timeline for filing Form 10AB for recognition under section 12A of the Income Tax Act up to 30.09.2023, allowing appeals against denial of registration under section 80G(5).
Discover the ITAT Delhi’s ruling on Sakshi Fincap Pvt. Ltd. vs. ITO, addressing valuation discrepancies and retrospective amendments under Section 56(2)(viib) of the Income Tax Act.
