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CA, CS, CMA : The article summarizes important notifications, circulars, judicial rulings, and regulatory changes issued between 11–17 May 202...
Income Tax : The Bombay High Court held that reopening for AY 2016–17 becomes invalid when sanction is obtained from an authority not prescri...
CA, CS, CMA : The week witnessed important rulings on benami transactions, GST natural justice violations, and misuse of insolvency proceedings....
Income Tax : A comprehensive guide explaining taxation of house property income, annual value computation, deemed ownership, and deductions und...
CA, CS, CMA : This update compiles key statutory deadlines across multiple laws for May 2026. It highlights filing requirements under income tax...
Income Tax : The Government clarified that the new income tax search provision does not expand powers or permit AI-based digital surveillance, ...
Income Tax : The government responds to queries on corporate tax, including notices, prosecutions, and collections over the past five years....
Income Tax : Explore the Malad Chamber of Tax Consultants' 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961,...
Income Tax : Live Webinar on Section-43B(h) of Income Tax Act, 1961 read with Section-2, 7-8, 15-16-17 of MSMED Act 2006 on 03-03-2024- SundayÂ...
Income Tax : Live webinar – Taxation Critical Issues & Solution Did you know our Indian Tax System is extremely vulnerable? Let me te...
Income Tax : The court directed the Board of Advance Rulings to expedite the disposal of a pending application under Section 245Q, ensuring tim...
Income Tax : The High Court allowed a religious society to submit delayed audit documents, citing the treasurer’s age and Covid-19 as valid r...
Income Tax : The Kerala High Court has temporarily halted income tax recovery proceedings against Palode Service Co-Operative Bank Ltd a Primar...
Income Tax : The Delhi High Court dismissed the Revenue's appeals in CIT-1 v. Casio India Co. Pvt. Ltd. for AY 2012-13 and 2013-14, affirming t...
Income Tax : The Tribunal found the addition uncalled for. cash deposits from the sale of old vehicles, accepted as genuine sales by the AO, ca...
Income Tax : CBDT Notification 150/2025 grants income tax exemption to the Jhansi Development Authority under Section 10(46A), effective from A...
Income Tax : The Central Board of Direct Taxes has granted income tax exemption to the Parambikulam Tiger Conservation Foundation on specific i...
Income Tax : CBDT notification details income tax exemption for Mysore Palace Board. Covers income from palace, fees, rent from government agen...
Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...
Income Tax : Read about the latest income tax notification specifying AIMCo India Infrastructure Pension Fund for tax exemption under section 1...
The issue under consideration is whether the assessee would be entitled for deduction u/s 54F if construction of house is commenced prior to the transfer of the asset?
Kingfisher Finvest India Ltd. Vs. DCIT (ITAT Bangalore) The issue under consideration is whether the disallowance made by AO u/s 14A of the Act is justified in law? ITAT states that if the interest free funds available with the assessee is more than the value of investments, then the presumption is that the assessee has […]
The issue under consideration is whether the disallowance u/s 14A is justified even if the bank had not incurred any expenditure for the purpose of earning the interest amount?
The issue under consideration is whether the disallowance under Section 40A(3) of the Act as made by the Assessing Officer is sustainable under Income Tax Act when banking facility was available but the bank account could not be operated by the very bank themselves because of an order of attachment passed by the ESI Department.
In today’s date, the most popular and most discussed topic is TCS on Sale of Goods since it is applicable with effect from 01 October, 2020. Though the topic is the most discussed one, there are so many confusions in the mind of readers regarding this new section and its practical implementation. Hence today I […]
The issue under consideration is whether the advance to the seller of flat prior to the date of sale of old capital asset will be eligible for claiming deduction u/s 54 under capital gains?
DCIT Vs. ICICI Bank Ltd. (ITAT Mumbai) The issue under consideration is whether the CIT(A) is correct in deleting the penalty levied u/s 271(1)(c) on the disallowance of expenses made u/s.35D? ITAT states that, the assessee claimed deduction of preliminary expenses u/s 35D which was rejected by Ld.AO in terms of decision of Hon’ble Madras […]
Orion Property Management Services Ltd. Vs. ITO (ITAT Bangalore) The issue under consideration is whether CIT(A) is correct in making addition of Sponsorship and Promotional income by reducing it from marketing cost? In the instant case, the marketing income has been considered under the head marketing cost and net of expenses is debited to P&L […]
Balaji Telefilms Limited Vs. DCIT (ITAT Mumbai) The issue under consideration is whether the penalty proceedings u/s 271(1)(c) without specifying the limb will be sustain under law? ITAT states that, it has been held by Hon’ble Court that the notice would have to specifically state the ground mentioned in Section 271(1)(c) of the Act namely […]
DCIT Vs. Coffee Day Global Ltd. (ITAT Bangalore) The issue under consideration is whether foreign exchange fluctuations are allowed as revenue expense u/s 37 of Income Tax Act? ITAT states that, the Supreme Court in the case of CIT vs. Woodward Governor India Pvt. Ltd. (2009) 312 ITR 254 had already held that the actual […]
