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Income Tax : Understand Income Tax scrutiny under Section 143(2) for AY 2024-25, faceless process, key deadlines, documents needed, and why exp...
Income Tax : Learn how strategic income tax filing and claiming key deductions in 2025 can help you save more. Discover essential documents, po...
Income Tax : The most commonly applied interest provisions are found under Sections 234A, 234B, 234C. Understanding these sections is crucial f...
Income Tax : Tax deductions for interest paid on loans play a significant role in personal tax planning, offering relief by reducing taxable in...
Income Tax : Pursuant to the amendment under Union Budget 2024, tax on buyback of shares transactions executed on or after 1st October 2024 sha...
Income Tax : Tax professionals express concerns to the Finance Minister regarding the CBDT's delayed release of ITR forms for AY 2025-26, impac...
Income Tax : Comprehensive list of 30 banks available at the e-Filing Portal's e-Pay Tax service. Find out the new and migrated banks, along wi...
Income Tax : Join CA Ruchika Bhagat on June 29, 2025, for a webinar on NRI taxation. Learn about residential status, taxable income, DTAA, TDS,...
Income Tax : Explore the growth in direct and advance tax collections for FY 2025-26 as of June 19, 2025, highlighting corporate and non-corpor...
Income Tax : India sees a 45% rise in foreign asset reporting for AY 2024-25. CBDT's initiatives under AEOI ensure compliance with foreign inco...
Income Tax : ITAT Mumbai held that short-term capital loss [STCL] on which STT is paid [which is taxable at 15% u/s. 111A of the Income Tax Act...
Income Tax : Gujarat High Court rules on condoning delay in tax return filing for a non-resident Indian, emphasizing "genuine hardship" and pro...
Income Tax : ITAT Mumbai held that dividend paid to International Finance Corporation is exempt from Dividend Distribution Tax chargeable under...
Income Tax : ITAT Jaipur held that seized cash belongs to the firm and not of the assessee alone and hence invoking provisions of section 69A o...
Income Tax : ITAT Delhi held that Bright Line Test doesn’t have statutory mandate and cannot be applied for determining Arm’s Length Price ...
Income Tax : CBDT Circular 8/2025 clarifies that authorities can waive interest under Sections 201(1A)(ii)/206C(7) for past periods, subject to...
Income Tax : Ministry of Finance announces amendment to Section 48 of the Income-tax Act, 1961, introducing a new cost inflation index effectiv...
Income Tax : KSCAA urges Union Finance Minister to reform Black Money Act (BMA) penalties. Sug-gestions include amnesty, proportional fines, hi...
Income Tax : A protocol amending the Double Taxation Avoidance Agreement (DTAA) between India and Oman came into force on May 28, 2025. This no...
Income Tax : CBDT allows processing of delayed ITRs filed under Section 119(2)(b) by March 2024. Refunds and related provisions to follow, with...
Pursuant to the amendment under Union Budget 2024, tax on buyback of shares transactions executed on or after 1st October 2024 shall be levied in the hands of shareholders, and not on the company.
The ITAT Delhi has deleted ₹2 Crore unexplained cash credit and ₹1.55 Crore unexplained expenditure against Shagun Jewellers, citing insufficient evidence.
ITAT Delhi confirms the reassessment of Ram Dev Rice Pvt. Ltd. for AY 2006-07, upholding the addition of Rs. 90 lakh under Section 68 for bogus share capital based on new tangible information.
The ITAT Chandigarh addressed the appeal concerning additions made to the income of Lekh Raj Educational & Charitable Trust, involving unexplained corpus funds and unsecured loans.
ITAT Mumbai overturned an income addition for Leena Haresh Harde, ruling that unsecured loans were genuine, and an assessment based solely on uncorroborated third-party statements without cross-examination is invalid.
Mumbai ITAT rules on ITO vs. Nikhil Vinod Aggarwal, invalidating assessment reopening without proper sanction and deleting “on-money” addition due to lack of evidence.
The Madras High Court addressed the tax treatment of royalty payments for brand use and the allowability of bad debts for Shriram Chits Tamilnadu Pvt. Ltd., affirming prior rulings.
The Madras High Court upheld that software expenses, including license fees, for Danfoss Industries Pvt. Ltd. are revenue expenditures, not capital, citing no enduring benefit.
Karnataka High Court allows CGI Information Systems to claim Section 10A deduction, deduct software fees, and claim foreign tax credit, reversing ITAT rulings.
Gujarat High Court sets aside Section 148 notice against AIM Fincon Pvt. Ltd., ruling it a mere change of opinion on already disclosed facts.
