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Valuation of Securities under Income Tax Act and challenges

Income Tax : Explore the complexities of securities valuation under the Income Tax Act. Understand the rules, challenges, and practical insight...

April 26, 2024 1818 Views 0 comment Print

Alignment of Section 286 of Income Tax Act with OECD BEPS Action Plan 13

Income Tax : Explore the alignment of Section 286 of the Income Tax Act 1961 with OECD BEPS Action Plan 13, emphasizing Country-by-Country Repo...

April 26, 2024 444 Views 0 comment Print

Understanding Slump Sales: A Comprehensive Guide

Income Tax : Learn about the meaning of slump sale, its framework under the Income Tax Act 1961, constituents of a valid slump sale, and tax im...

April 24, 2024 1098 Views 0 comment Print

Income Tax Act 1961: Features and Objects

Income Tax : Explore the features and objectives of the Income Tax Act, 1961 in India. Understand its comprehensive laws, objectives, and signi...

April 24, 2024 483 Views 0 comment Print

Whether Issuance of notice u/s section 263 after new Faceless Assessment Scheme justified?

Income Tax : Explore the necessity of issuing notices under Section 263 post the Faceless Assessment Scheme introduction. Analyze the schemes e...

April 23, 2024 3444 Views 0 comment Print


Latest News


Join Live Webinar and get Book on Section 43B(h)

Income Tax : Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down ...

April 29, 2024 5253 Views 1 comment Print

Representation on Incorrect/Delay In Submitting Application U/S 12A(1)(ac)

CA, CS, CMA : Explore the challenges faced by Charitable Trusts due to delays or errors in submitting applications under Section 12A(1)(ac) of t...

April 8, 2024 9114 Views 1 comment Print

FADA requests relief for linking Aadhaar with PAN for automobile dealerships

Income Tax : FADA presents a case under section 119(2)(b) of the Income-tax Act, seeking relief for linking Aadhaar with PAN for automobile dea...

April 6, 2024 171 Views 0 comment Print

Guide to Responding to Income Tax Notices: e-Verification Scheme 2021

Income Tax : Learn how to effectively respond to income tax notices and letters under the e-Verification Scheme 2021. Complete guide for taxpay...

February 27, 2024 3642 Views 0 comment Print

Live webinar – Solution to Serious Tax Problems – Hindi

Income Tax : Discover a solution to serious tax problems in India in Hindi. Join our live webinar to learn about the 12 types of taxes and how ...

February 22, 2024 2445 Views 0 comment Print


Latest Judiciary


Reasoned order of settlement commission cannot be interfered: Delhi HC

Income Tax : Delhi High Court held that acceptance of settlement and order passed by the Income Tax Settlement Commission (ITSC) based on full ...

April 30, 2024 150 Views 0 comment Print

ITAT Dismisses Appeal Due to absence of Reasonable cause for 726-Day Delay

Income Tax : Read the full text of the order from ITAT Chennai dismissing the appeal due to unexplained 726-day delay. Detailed analysis and im...

April 28, 2024 330 Views 0 comment Print

ITAT allows Section 80P(2)(a)(i) deduction on dividend from Chennai Central Co-operative Bank

Income Tax : Read the detailed analysis of Union Bank of India's case vs ITO where ITAT Chennai grants deduction under Section 80P for dividend...

April 28, 2024 381 Views 0 comment Print

ITAT Restores Case: Assessee Denied Opportunity to Cross-Examine Witnesses

Income Tax : In ITO Vs Saivi Finance Pvt Ltd, ITAT Delhi restores the matter back to AO due to denial of natural justice, assessees not given c...

April 28, 2024 390 Views 0 comment Print

Section 143(1) Assessment cannot be Reopened on Mere Suspicion: Bombay HC

Income Tax : Explore how the Bombay High Court ruled against reopening Section 143(1) assessments without valid reasons, safeguarding taxpayers...

April 28, 2024 7899 Views 0 comment Print


Latest Notifications


CBDT Extends Due Dates: Form No. 10A/10AB Filing upto 30th June, 2024

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...

April 25, 2024 21138 Views 0 comment Print

Notification under Section 80G(2)(b) for Shree Ramanuj Kot Trust Indore

Income Tax : Explore the notification under section 80G(2)(b) of the Income Tax Act 1961 for Shree Ramanuj Kot Trust in Indore. Details of vali...

April 23, 2024 297 Views 0 comment Print

CBDT notifies designated authority for sharing information with Uttar Pradesh Govt

Income Tax : Explore the Central Board of Direct Taxes order under section 138(1)(a) of the Income-tax Act, 1961, regarding information sharing...

March 27, 2024 306 Views 0 comment Print

Notification No. 36/2024: Income Tax Exemption- National Mission for Clean Ganga

Income Tax : Explore Notification No. 36/2024 by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, concerning the ...

March 26, 2024 327 Views 0 comment Print

Instructions to AO’s for initiating section 147 proceedings in I.T. e-Verification cases

Income Tax : Learn how to initiate proceedings under section 147 of the IT Act in e-Verification cases. Detailed instructions for Assessing Off...

March 19, 2024 8076 Views 0 comment Print


Addition which is not based on reasons for reopening is un-sustainable sans notice u/s 148

March 19, 2024 807 Views 0 comment Print

Read the detailed analysis of Manu Stock Broking Pvt Ltd Vs ACIT case by Mumbai ITAT. Learn how additional issues impacted proceedings under section 147/148 of the Income Tax Act.

Section 50(C)(2): If taxpayer objects to valuation, AO must refer valuation to valuation officer

March 19, 2024 483 Views 0 comment Print

Mumbai ITAT orders AO to follow Sec 50C if stamp values exceed property FMV, in Rakhmabai Mhatre Mukkam Bhalgaon vs ITO case. Full text available.

AOs failed to complete Assessment within time limit: Deposited Amounts cannot be retained

March 19, 2024 291 Views 0 comment Print

Delhi High Court rules that Income Tax Officer cannot withhold taxpayer’s deposited amount without framing final assessment order during stay period. Full judgment analysis.

Direction of DRP should be followed by TPO for calculation of TP adjustment: ITAT Kolkata

March 19, 2024 162 Views 0 comment Print

ITAT Kolkata held that TPO should follow the direction of Hon’ble Dispute Resolution Panel (DRP). Accordingly, matter to the file of ld. TPO/AO for further calculation of TP adjustment by considering the direction of the Hon’ble DRP.

Reopening of assessment u/s. 148 based on reason to suspect is unsustainable-in-law: ITAT Delhi

March 19, 2024 657 Views 0 comment Print

ITAT Delhi held that reopening of assessment under section 148 of the Income Tax Act based on reason to suspect unsustainable as AO failed to demonstrate live link between tangible material and formation of reason to believe that income had escaped assessment.

Tax Recovery Officer doesn’t have jurisdiction to declare sale of property as void: Madras High Court

March 19, 2024 300 Views 0 comment Print

Madras High Court held that Tax Recovery Officer cannot declare sale made by the assessee in favour of 3rd party as void. It is the function of civil court to declare a transaction as null and void and the Tax Recovery Officer cannot exercise the said function.

ITAT directs AO to Re-Adjudicate disallowance of Demonetization Cash Deposits

March 19, 2024 258 Views 0 comment Print

Bangalore ITAT’s ruling on cash deposits during demonetization raises questions on verification methods. Learn about the case between ITO and Shri Chatrapati Shivaji.

Co-Op society eligible for section 80P(2)(a)(i) deduction on compulsory investment with Central Co-op Bank  

March 19, 2024 300 Views 0 comment Print

In the case of Kalika Parameswari Co-op Society vs. ITO, ITAT Bangalore allows deduction under Section 80P(2)(a)(i) for interest income from cooperative bank investments.

Surplus doesn’t Bar Trust from seeking Section 10(23C)(vi) Exemption: Rajasthan HC

March 19, 2024 390 Views 0 comment Print

Rajasthan High Court rules in Chandigarh Manav Vikas vs Chief Commissioner of Income Tax case: Trust generating surplus still eligible for Section 10(23C) (vi) exemption. Details here.

In Transfer pricing associated enterprises can be selected as a tested party: Calcutta HC

March 19, 2024 102 Views 0 comment Print

Calcutta High Court dismisses PCIT’s appeal, reaffirming that the least complex party should be the tested entity in transfer pricing transactions, citing relevant precedents.

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