Income Tax : Explore India's digital taxation measures like Equalization Levy, Significant Economic Presence, and GST on online services. Learn...
Income Tax : In this blog post here, we would like to address the impact of progressive taxation on income inequality in India with regard to t...
Income Tax : Learn how tax laws impact small businesses, from selecting the right entity and managing deductions to complying with payroll taxe...
Income Tax : Understand the concept of an assessee under the Income Tax Act, its classifications, roles, responsibilities, and available tax be...
Income Tax : Overview of Income Tax Sections 69A, 69B, on unexplained income, investments, and expenditures. Key cases and interpretations incl...
CA, CS, CMA : Get the latest Income Tax and GST notifications, updates, and circulars from February 10 to 16, 2025, including ITR filing deadlin...
Income Tax : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...
Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
Income Tax : Income-Tax Bill 2025 simplifies tax laws by reducing sections, chapters, and words while ensuring no policy or tax rate changes. K...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : ITAT Chennai sets aside CIT(E)’s rejection of 80G registration for SKNNSM Society, citing inadequate time for response. Case sen...
Income Tax : ITAT directed AO to verify Factory Premises rental income and compute taxability under section 57, allowing proportionate expense...
Income Tax : ITAT Surat condones a 162-day delay in appeal filing by a 77-year-old farmer, citing lack of legal guidance, and directs a fresh a...
Income Tax : ITAT Pune rules in favor of Saikrupa Nagari Sahakari Patsanstha, allowing deduction under Section 80P(2)(d) for interest income ea...
Income Tax : Kerala HC dismisses EKK Infrastructure’s writ petition on cross-examination in an income tax case, ruling it premature. Read the...
Income Tax : Delhi Building and Other Construction Workers Welfare Board receives tax exemption on cess, fees, and interest income under Sectio...
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...
Income Tax : CBDT authorizes data sharing with the Dept. of Food & Public Distribution to identify beneficiaries under PMGKAY as per Income-tax...
Income Tax : Shri Chaitanya Health and Care Trust’s Bhaktivedanta Hospital approved for scientific research under Section 35(1)(ii) of the In...
ITAT Bangalore held that merely because the assessee has failed to prove any benefit from services received the disallowance of transfer pricing cannot be made. Accordingly, one more opportunity granted to assessee to prove the case.
ITAT Jaipur held that addition towards unexplained cash credit under section 68 of the Income Tax Act merely based on retracted statement cannot be sustained. Accordingly, appeal of the revenue dismissed.
Delhi HC rules that SEB rates, not IEX rates, determine the market price of electricity in transfer pricing cases, dismissing Revenue’s appeal.
ITAT Jodhpur held that addition of income and capital gain tax levied thereon is liable to be set aside as land not situated within the municipal limits of Sardarsahar. Accordingly, appeal of the assessee allowed.
ITAT Ahmedabad held that agreement for transfer of operations, management and movable assets didn’t violated the purpose of charity and hence exemption under section 11 and 12 of the Income Tax Act duly available.
TAT Mumbai held that the addition of Rs. 3.05 crore u/s 69A of the Income Tax Act was based on suspicion, ruling it as impermissible without proper inquiry.
Kerala High Court held that revision proceedings under section 263 of the Income Tax Act righty invoked as claim was accepted by assessing officer without any enquiry. Accordingly, jurisdiction rightly invoked.
ITO Vs Shivsahyadri Sahakari Pathpedhi (ITAT Mumbai) – Credit co-operative society investments in co-operative bank claimed as allowable u/s. 80P(2) because co-operative banks are also registered under co-operative society
ITAT deletes addition of Rs. 48.48 lakh for penny stock investment, ruling that no concrete evidence was presented by the Income Tax authorities.
ITAT remits the case of Rahul Kumar Singh to the AO after the assessee’s failure to respond to notices, directing the inclusion of new evidence submitted by the appellant.
