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July, 2024 Tax Compliance Tracker: Income Tax & GST Deadlines

Goods and Services Tax : Stay updated with Tax Compliance Tracker for Income Tax and GST. This tracker provides due dates for various tax-related filings a...

June 30, 2024 149292 Views 1 comment Print

Judicial Interpretation of Income Tax Law in India

Income Tax : Introduction to Judicial Interpretation of Income Tax Law in India The judicial elucidation of income tax legislation in India pla...

June 29, 2024 633 Views 0 comment Print

Tax Deducted At Source Under Section 194C on Payment To Contractors

Income Tax : Learn about TDS under Section 194C of the Income Tax Act for payments to contractors. Includes rates, who needs to deduct, contrac...

June 26, 2024 1479 Views 0 comment Print

Section 194S: TDS on transfer of Virtual Digital Assets (VDA)

Income Tax : Understand Section 194S of the Income Tax Act, 1961. Learn about TDS on transfer of virtual digital assets (VDA), thresholds, tax ...

June 24, 2024 1074 Views 0 comment Print

TDS on Purchase of Property: Section 194IA of Income Tax Act, 1961

Income Tax : Learn about TDS on property purchase under Section 194IA of the Income Tax Act, 1961. Get insights on requirements, payment proces...

June 21, 2024 2325 Views 0 comment Print


Latest News


Budget 2024 Proposals: GST & Income Tax Amendments

CA, CS, CMA : Discover comprehensive proposals from The Punjab Accountants Association to improve tax compliance, extend filing deadlines, inclu...

June 29, 2024 4092 Views 0 comment Print

Budget Memorandum 2024 & suggested Amendments to Income-tax Act 1961

Income Tax : Explore the Malad Chamber of Tax Consultants' 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961,...

June 20, 2024 3102 Views 0 comment Print

Representation against Proposed Amendment In Section 43B of Income Tax

Income Tax : Discover how proposed amendment in Section 43B of Income Tax Act, 1961, affects MSMEs. Learn about potential challenges and sugges...

June 11, 2024 4872 Views 0 comment Print

Guidance Note on Inventory Valuation under Income Tax Act 1961

Income Tax : Learn how to prepare Inventory Valuation Reports under Section 142(2A) of the Income Tax Act, 1961 with our comprehensive Guidance...

May 10, 2024 2070 Views 0 comment Print

Live Course on Section 43B(h) by CA Manoj Lamba – Last Few Hours to register

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 ...

May 10, 2024 10110 Views 1 comment Print


Latest Judiciary


PMLA, 2002: ED can Prosecute Violations of Sections 3 & 4 Based on Predicate Offense

Corporate Law : Detailed analysis of Pirtpal Singh vs Directorate of Enforcement case by Punjab and Haryana HC, regarding PMLA prosecution based o...

June 30, 2024 63 Views 0 comment Print

ITAT Kolkata deletes Addition for Share Capital of Rs. 1.54 Crore

Income Tax : Explore the detailed analysis of ITO Vs Axisline Investment Consultants Pvt. Ltd. case where ITAT Kolkata deleted Rs. 1.54 crore a...

June 30, 2024 165 Views 0 comment Print

Share application amount cannot be added twice in payees & recipients’ hands u/s 68  

Income Tax : ITAT Kolkata held in ITO Vs Happy Structure Pvt. Ltd.  that share application amount cannot be added twice under Section 68 of In...

June 30, 2024 156 Views 0 comment Print

Section 68 addition based on conjectures & surmises not justified: ITAT Kolkata

Income Tax : Satyam Smertex pvt. Ltd. Vs DCIT (ITAT Kolkata): Addition made by AO and confirmed by CIT(A) are based on conjectures and surmises...

June 30, 2024 99 Views 0 comment Print

Alleged circular transactions & Bogus Invoicing: HC upheld validity of reassessment proceedings

Income Tax : Explore the detailed analysis of Chetak Enterprises Ltd. Vs ACIT Rajasthan High Court judgment on reopening assessments under Sect...

June 29, 2024 816 Views 0 comment Print


Latest Notifications


Revised Jurisdiction of DIT Intelligence & Criminal Investigation in Lucknow & Kanpur Notified by CBDT

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...

June 6, 2024 840 Views 0 comment Print

CBDT exempt RBI from Higher TDS deduction under Section 206AB

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...

May 27, 2024 3501 Views 0 comment Print

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 25383 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 567 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 477 Views 0 comment Print


Management Support Fees Not FTS under India-Singapore DTAA: ITAT Delhi

February 2, 2024 480 Views 0 comment Print

Read the detailed analysis of ITAT Delhi’s order in Cameron (Singapore) vs ACIT case. Learn why management support fees are not considered FTS under India-Singapore DTAA. Get insights on grounds, TDS credit, interest, and penalty.

American Express (India) Wins Tax Battle: ITAT Delhi Grants Relief on Relocation Expenses

February 2, 2024 486 Views 0 comment Print

Read the full text of the ITAT Delhi order on American Express (India) Pvt. Ltd. vs. JCIT. The decision grants relief on relocation expenses under section 40(a)(i) of the Income Tax Act.

ITAT Directs AO to Allow Indexed Cost of Improvement & Recompute Capital Gains

February 2, 2024 6288 Views 1 comment Print

Read the full text of the ITAT Delhi order in the Ashwin Kapur vs ACIT case. The ITAT directs the AO to allow the indexed cost of improvement and recompute capital gains under section 48 of the Income Tax Act.

Section 194C TDS on Common Maintenance Charges: ITAT remitts matter back to AO

February 2, 2024 387 Views 0 comment Print

Explore the ITAT Delhi order in Paramount Restaurants’ appeal against National Faceless Appeal Centre’s decision on TDS deduction for Common Maintenance Charges under section 194C.

A Guide for Assessee on Section 43B(h) of Income Tax Act, 1961- Compliance

February 2, 2024 2250 Views 0 comment Print

Understand Section 43B(h) in the Income Tax Act, its socio-economic implications, and practical tips for timely payments to Micro and Small Enterprises (MSEs) under the UDYAM AADHAR scheme.

High Court Quashes Assessment Order on Amalgamation Grounds

February 2, 2024 588 Views 0 comment Print

The Madras High Court quashes the assessment order dated 31.12.2022, citing irregularities in the assessment process post-amalgamation of Pallava Textiles and Cheran Synthetics. Details of the legal proceedings and implications.

Bogus Purchase: No Penalty for Estimate-Based Additions

February 2, 2024 4713 Views 1 comment Print

ITAT concluded that the penalty levied under section 271(1)(c) of the Act was unsustainable due to the defect in the statutory notice and the fact that the penalty was imposed on additions made through estimation.

PCIT cannot set-aside an order without an enquiry of his own

February 2, 2024 507 Views 0 comment Print

Calcutta High Court, affirming the Tribunal’s findings, held that the PCIT lacked justification for setting aside the order under Section 263 without conducting a thorough inquiry.

No Addition Based on Loose Papers Found in Search and Seizure: MP HC

February 1, 2024 1515 Views 0 comment Print

Explore the detailed analysis of the Madhya Pradesh High Courts judgment in PCIT-I vs. Pukhraj Soni (I.T.A. No.585/Ind/2015, AY 2009-10). The courts scrutiny, legal implications, and key findings revealed.

Non-supply of relevant documents: HC set-aside Reassessment order & SCN

February 1, 2024 384 Views 0 comment Print

Explore the Chhattisgarh High Courts full judgment in Vinod Lalwani vs Union of India under the Income Tax Act. Detailed analysis of the order, objections, and implications.

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