Income Tax : Analysis of Sections 87A and 115BAC(1A) of the Income Tax Act, 1961, detailing their implications for taxpayers, including rebates...
Income Tax : F&O traders need to know how their profits are taxed. With the ITR return filing date approaching, it is imperative to know how st...
Income Tax : Get answers to common ITR issues and FAQs for filing your tax return for AY 2024-25. Resolve filing errors and understand tax regi...
Income Tax : How to calculate the turnover of Futures & Options (F&O) for taxation purposes, including detailed examples and tax filing require...
CA, CS, CMA : Stay informed with February 2024 legal obligations & updates in India. From Income Tax to GST, understand forms, filing dates, & s...
Income Tax : Discover comprehensive FAQs on filing ITR-4 (Sugam) for AY 2024-25. Learn eligibility criteria, tax regime options, documents need...
Income Tax : Learn who can file ITR-1, who cannot, necessary documents, and precautions. Understand the process of filing ITR-1 (Sahaj) online ...
Income Tax : Understand tax deduction rules for dividends as per Income-tax Act, 1961 amendments. Detailed guide on TDS rates, exemptions, and ...
Income Tax : Read the inaugural address from Ravi Agrawal, the new Chairman of CBDT, outlining his vision for enhancing tax administration in I...
CA, CS, CMA : Discover comprehensive proposals from The Punjab Accountants Association to improve tax compliance, extend filing deadlines, inclu...
Income Tax : In the case of Anil Champalal Jain vs ITO (ITAT Mumbai), learn why Mumbai ITAT ruled that cash deposits during demonetization alon...
Income Tax : Read the detailed judgment of Bombay High Court in ACIT Vs Sociedade de Fomento Industrial Pvt Ltd regarding TDS deduction on retr...
Income Tax : ITAT Jaipur quashes PCIT order in Yesh Dagas case, citing violation of natural justice principles. Key points of the judgment and ...
Income Tax : Gujarat High Court quashes Income Tax reassessment notice against Deepak Natvarlal Pankhiyani HUF, citing lack of fresh evidence s...
Income Tax : PCIT Vs Farmson Pharmaceuticals Gujarat Pvt Ltd (Gujarat High Court): Reassessment cannot be solely based on a reevaluation of exi...
Income Tax : CBDT directs DGIT (Systems) to share income tax information with Telangana's Agriculture Department as per Section 138(1)(a) of th...
Income Tax : Discover the latest Income Tax Act notification under section 138 for Telangana by the Ministry of Finance. Details on the designa...
Income Tax : Explore the latest amendment in the Income Tax Act 1961 by Notification No. 50/2024 issued by the Ministry of Finance. Detailed an...
Income Tax : RBI exempted from Section 206AB of the Income Tax Act, 1961, via Ministry of Finance notification dated May 27, 2024. Learn more a...
Income Tax : Get insights on Circular No. 7/2024 issued by CBDT, extending due dates for filing Form No. 10A/10AB under the Income-tax Act, 196...
Analysis of Jharkhand High Court’s judgment in A.M. Enterprises Vs State of Jharkhand, quashing TDS-related criminal proceedings. Insights into Section 276B and its implications.
Analyzing Delhi High Court’s decision in Dhruv Suri Vs ITO. The court has directed the appellant to file tax return pursuant to Section 148.
Explore the intricacies of ACIT Vs Satish Kumar Keshri, a pivotal case by the Patna High Court about the application of Section 153A in Income Tax assessments. Learn about the court’s stand and its implications.
ITAT Delhi held that attribution of profit from offshore supply and services to the Permanent Establishment unsustainable as assessee didn’t have any Permanent Establishment in India in the assessment years under dispute.
Assessing Officer’s claims on the irregularity of additional salary payments are unfounded, says ITAT. When payments are made via cheque and duly recorded, there’s no reason to treat them as ‘outside the books.’ The assessee provided evidence that these are year-end calculations, not fictitious transactions. The additional salaries are legitimate and shouldn’t be interpolated for 12 months.
ITAT Delhi passed a significant judgment in ITO Vs Essjay Enterprises, focusing on classification of income derived from sale of agricultural land and shares.
Bombay High Court held that reopening of assessment u/s 147 of the Income Tax Act unsustainable as the assessee has fully and truly disclosed all the material facts.
ITAT Mumbai held that invocation of provisions of section 263 of the Income Tax Act without satisfying the twin condition i.e. erroneous and prejudicial to the interest of revenue not satisfied. Hence, order passed u/s 263 set aside.
Mere completion of assessment under section 143(3) doesn’t automatically merge the intimation under section 143(1) with the assessment order
Explore circumstances triggering Notice U/s Section 133(6) of the Income Tax Act, 1961. Uncover how technology aids the Income Tax Department in identifying tax evasion, including cases of fake deductions, underreported income, unsecured loans, and scrutiny of financial transactions. Understand the importance of prompt response to notices and the potential penalties for non-compliance. Author CA. Shiv Kumar Sharma provides insights to help navigate through these situations.
