Month: May 2024

Recent Posts

• Widow entitled to TDS in the name of her late husband, after she had declared his income in her own tax returns (ITRs): ITAT
• The Finance Act, 2025, due to a drafting lapse, inadvertently reduced the standard deduction under the new tax regime from ₹75,000 to ₹50,000, for FY 25-26
• Lack of Enquiry vs. Inadequate Enquiry’ – ITAT Chennai Allows Appeal, Strikes Down 263 Order
• CBDT Amends Black Money Act Instructions to Exempt Minor Foreign Assets
• Mass Issuance of Income Tax Scrutiny Notices u/s 143(2) for AY 2024-25
• Capital Gain Indexation Begins From Date of Agreement, Not Possession
• Income Declared Under 44AD Cannot Be Taxed Again Under Section 68:
• Additional Ground Can Be Raised at Hearing-Even If Not Taken Before Lower Authorities or in Cross-Objection!
• Denial of exemption under Section 11 made by CPC under Section 143(1) – ITAT Mumbai grant relief to Trust
• Supreme Court Again Dismisses Revenue SLP in JAO–FAO Controversy: Final Word Still Awaited