Income Tax : This explains why recent income disclosure intimations lack statutory support and create uncertainty. The key takeaway is that vag...
Income Tax : Explains when home-loan interest can be added to the cost of acquisition and how the AY 2024-25 amendment blocks double benefits. ...
Income Tax : This guide explains the concept, calculation formula, and notified values of CII from 2001-02 to 2025-26, as per CBDT. A must-read...
Income Tax : Learn whether PMS fees can be deducted from capital gains under Section 48 of the Income-tax Act, 1961. This article explains the ...
Income Tax : Summary: As per the Finance Act 2024, the long-term capital gains (LTCG) tax on listed securities has been raised from 10% to 12.5...
Income Tax : Calculate Long term capital gain on sale of capital Assets other then shares with the help of Indexation.- We have given below the...
Income Tax : ITAT Mumbai held that TDS credit cannot be denied where the employer deducted tax but failed to deposit it. Recovery must be made ...
Income Tax : ITAT held ₹33 crore settled rights over the entire land, allowing full indexed acquisition cost and rejecting proportionate rest...
Income Tax : The ITAT held that Section 54 exemption must be examined separately for each residential house sold. The benefit cannot be restric...
Income Tax : Bangalore ITAT held that allegations of capitation fee collections could not justify denial of exemption under Sections 11 and 12 ...
Income Tax : The Mumbai ITAT held that ownership premises received under a redevelopment scheme are acquired in exchange for valuable tenancy r...
Corporate Law : Explore the new Competition Commission of India (CCI) Lesser Penalty Regulations 2024. Learn about conditions, procedures, and ben...
Custom Duty : Stay informed about the Union Budget 2024-25 changes in ICES. Learn how the Directorate General of Systems manages updates and the...
Explore how DCIT vs. Claris Lifesciences Limited case sets precedent for setting off deemed short-term capital gain on sale of depreciable against long-term capital loss.
Explore the new Competition Commission of India (CCI) Lesser Penalty Regulations 2024. Learn about conditions, procedures, and benefits for cartel disclosure and reduction in penalties.
ITAT Mumbai held that exclusion of comparables for the reason that those companies are loss making or low profit making is not correct. Accordingly, TPO directed to include these comparables and re-compute the Arm’s Length Price (ALP).
Mumbai ITAT reiterates Sec 50C(1) as a measure against tax evasion by undervaluing property sales, emphasizing its retrospective application.
Read the detailed analysis of CPF (India) Private Limited Vs ACIT case where Madras High Court annulled assessment proceedings due to violation of Sec 144B procedure.
Stay informed about the Union Budget 2024-25 changes in ICES. Learn how the Directorate General of Systems manages updates and their impact on customs procedures.
Gujarat High Court held that charge in favour of secured creditor would precede over the unsecured creditor. Thus, secured creditor will have first charge over the property as against State Government (crowns debt).
ITAT Hyderabad held that as the parties have entered into registered Joint Development Agreement (JDA) on 04.04.2007 and the “Group of assessee” have also handed over possession to the TBPD pursuant to the agreement. Hence, transfer took place in the assessment year 2008-09.
ITAT Hyderabad held that transfer of assets of the partnership to the retiring partners would amount to the transfer of the capital assets in the nature of capital gains and business profits which is chargeable to tax under section 45(4) of the Income Tax Act.
NCLT Delhi held that an amalgamation of a Sole Proprietorship Firm with a Company is not permissible under the law. Thus, Merger and Amalgamation of sole proprietorship firm and company is not possible u/s 232 of Companies Act, 2013.
