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 : 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 : Assessee was engaged in diamond manufacturing, trading, and windmill power generation, had claimed deductions under sections 35DD ...
Income Tax : Delhi High Court dismisses Income Tax Department's appeal in PCIT Vs Satya Prakash Gupta case, finding no evidence of commission r...
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...
Learn about TDS under Section 194C of the Income Tax Act for payments to contractors. Includes rates, who needs to deduct, contract considerations, and tax deduction procedures.
The court held that while the information prompting the notice must be disclosed to the assessee, the detailed material or evidence need not be supplied at the initial stage. The court emphasized that Section 148A aims to provide a preliminary opportunity to the assessee, ensuring that reassessment proceedings are not initiated arbitrarily or without sufficient basis.
ITAT Jaipur rules that AO’s non-addition of bogus LTCG does not make the order automatically erroneous. Detailed analysis of Vipul Kumar Modi vs PCIT case.
Read the Calcutta High Court’s decision dismissing a writ petition challenging an Income Tax Act assessment order. Details on appeal availability discussed.
Read the detailed judgment of Suman Devi Vs ITO by Rajasthan High Court allowing condonation of ITR delay under Section 119(2)(b) of Income Tax Act 1961.
Rajasthan HC dismisses Income Tax Dept’s appeal, upholds ITAT decision deleting additions on capital gain from share sale. Read the full judgment here.
Read a comprehensive analysis of Ajay Kumar Mishra Vs DCIT case at ITAT Delhi regarding disallowance of foreign tax credit under Indian tax law. Understand the implications and legal arguments presented.
Read about Allahabad High Court’s ruling directing Saharanpur Development Authority to reconsider exemption under Income Tax Act for Shiv Mandir Gauri Shanker Vishvanath Vaikunth Dham Evam Shamshan Bhumi Pravandhak Sabha.
Read the detailed judgment of Allahabad High Court dismissing appeals on lack of merit, emphasizing AO’s duty under Income Tax Act Section 142A.
Read the Kerala High Court’s judgment setting aside an Income Tax Act Section 148(A) order due to lack of opportunity for hearing. Learn more about this case.
