Month: June 2025

ITAT Visakhapatnam Upholds Telescoping: Rs. 1.25 Cr Marriage Expense Not Taxable in Individual Hands as Income Offered by Group Company

30 Jun at 9:33 am

ITAT Visakhapatnam Upholds Telescoping: Rs. 1.25 Cr Marriage Expense Not Taxable in Individual Hands as Income Offered by Group Company…

Income Tax

A mere difference in opinion is not sufficient to invoke Section 263: ITAT Ahmedabad

30 Jun at 6:53 am

A mere difference in opinion is not sufficient to invoke Section 263: ITAT Ahmedabad Recently, ITAT Ahmedabad in ITA…

Income Tax

ROC Bangalore imposed penalty of Rs. 2.25 Lakh for failure to make ‘‘Appointment of Internal Auditor’’ u/s 138(1) & (2) r/w Rule 13(1) Of the Companies (Accounts) Rules, 2014

30 Jun at 6:05 am

ROC Bangalore imposed penalty of Rs. 2.25 Lakh for failure to make ‘‘Appointment of Internal Auditor’’ u/s 138(1) & (2)…

GST

No physical appearance – All personal hearings in GST proceedings must be conducted through virtual mode: A welcome move by Delhi GST Department

30 Jun at 3:25 am

No physical appearance – All personal hearings in GST proceedings must be conducted through virtual mode: A welcome move by…

Income Tax

Cash deposits during Demonetization and explanation of accumulated saving belonging to the family members – Issue before Delhi ITAT

30 Jun at 3:07 am

Cash deposits during Demonetization and explanation of accumulated saving belonging to the family members – Issue before Delhi ITAT In…

Income Tax

Section 143(2): When the Taxman Knocks, Should You Panic or Prepare?

30 Jun at 2:42 am

Section 143(2): When the Taxman Knocks, Should You Panic or Prepare? It’s that time of the year again – and…

Income Tax

Does Sec 56(2)(x) apply to purchase of rural agricultural land?

28 Jun at 2:44 am

Does Sec 56(2)(x) apply to purchase of rural agricultural land? Practical case: 1. Suppose an assessee has purchased a property…

Income Tax

Guidelines for recording reasons for reopening assessments are only a guidance for the AO: Calcutta HC

27 Jun at 3:28 am

Guidelines for recording reasons for reopening assessments are only a guidance for the AO: Calcutta HC Principal CIT-9 Kolkata…

Income Tax

ITAT Mumbai dropped non-compliance of penalty of Actress Shilpa Shetty as compliance with notices was done prior to assessment order

26 Jun at 5:03 am

ITAT Mumbai dropped non-compliance of penalty of Actress Shilpa Shetty as compliance with notices was done prior to assessment order…

Income Tax

Relaxation of time limit for processing of valid returns of income filed electronically pursuant to order u/s 119(2)(b) of the Income-tax Act,1961 passed by Competent Authority

26 Jun at 4:54 am

Relaxation of time limit for processing of valid returns of income filed electronically pursuant to order u/s 119(2)(b) of the…

Income Tax

Reviewing authority, Revisional Authority and Appellate Authority in respect of orders passed by Common Adjudicating Authority (CAA) for show cause notices issued by DGGI

26 Jun at 2:17 am

Reviewing authority, Revisional Authority and Appellate Authority in respect of orders passed by Common Adjudicating Authority (CAA) for show cause…

Income Tax

25 Landmark Cases on 80P Deduction for Bank-Deposit Interest

25 Jun at 6:42 am

25 Landmark Cases on 80P Deduction for Bank-Deposit Interest Section 80P(2) empowers co-operative credit societies to claim a 100% deduction…

Income Tax

Based upon an inconclusive or tentative opinion of an AO, no breach of Article 265 can be alleged or established: Bombay HC

25 Jun at 3:33 am

Based upon an inconclusive or tentative opinion of an AO, no breach of Article 265 can be alleged or established:…

Income Tax

Oman to be first Gulf country to impose personal income tax

25 Jun at 3:01 am

Oman to be first Gulf country to impose personal income tax 1. Oman will become the first country in the…

Income Tax

Major Changes in ITR-1 for FY 2024–25 (AY 2025–26) – Complete Guide

24 Jun at 12:21 pm

The Income Tax Department has rolled out a set of significant upgrades to the ITR-1 (Sahaj) form applicable to income…

Income Tax

Section 80P Deduction for Credit Co-operative Societies: Complete Legal Update

24 Jun at 6:30 am

Section 80P Deduction for Credit Co-operative Societies: Complete Legal Update Section 80P(2) empowers co-operative credit societies to claim a 100%…

TDS

Taxation of Mutual Funds in India [2025 Guide]

24 Jun at 6:13 am

Taxation of Mutual Funds in India [2025 Guide] If you’re investing in mutual funds in India-whether via SIPs, lump sum,…

TDS

Section 194T of Income Tax Act: New TDS Rule on Partner Payments Explained

24 Jun at 3:40 am

Section 194T of Income Tax Act: New TDS Rule on Partner Payments Explained Keywords: Section 194T, Income Tax Act, TDS on…

Month: June 2025

ITAT Visakhapatnam Upholds Telescoping: Rs. 1.25 Cr Marriage Expense Not Taxable in Individual Hands as Income Offered by Group Company

A mere difference in opinion is not sufficient to invoke Section 263: ITAT Ahmedabad

ROC Bangalore imposed penalty of Rs. 2.25 Lakh for failure to make ‘‘Appointment of Internal Auditor’’ u/s 138(1) & (2) r/w Rule 13(1) Of the Companies (Accounts) Rules, 2014

No physical appearance – All personal hearings in GST proceedings must be conducted through virtual mode: A welcome move by Delhi GST Department

Cash deposits during Demonetization and explanation of accumulated saving belonging to the family members – Issue before Delhi ITAT

Section 143(2): When the Taxman Knocks, Should You Panic or Prepare?

Does Sec 56(2)(x) apply to purchase of rural agricultural land?

Guidelines for recording reasons for reopening assessments are only a guidance for the AO: Calcutta HC

ITAT Mumbai dropped non-compliance of penalty of Actress Shilpa Shetty as compliance with notices was done prior to assessment order

Relaxation of time limit for processing of valid returns of income filed electronically pursuant to order u/s 119(2)(b) of the Income-tax Act,1961 passed by Competent Authority

Reviewing authority, Revisional Authority and Appellate Authority in respect of orders passed by Common Adjudicating Authority (CAA) for show cause notices issued by DGGI

25 Landmark Cases on 80P Deduction for Bank-Deposit Interest

Based upon an inconclusive or tentative opinion of an AO, no breach of Article 265 can be alleged or established: Bombay HC

Oman to be first Gulf country to impose personal income tax

Major Changes in ITR-1 for FY 2024–25 (AY 2025–26) – Complete Guide

Section 80P Deduction for Credit Co-operative Societies: Complete Legal Update

Taxation of Mutual Funds in India [2025 Guide]

Section 194T of Income Tax Act: New TDS Rule on Partner Payments Explained

Recent Posts

Recent Posts

Sign Up to New letter