The use of word “May” in section 68 should be distinguished from the word “Shall”

No addition u/s 68 Sustainable if the creditors are paid in subsequent years through banking channel

No Date Extension? More than 3 cr Returns filed so far

Income Tax Raid in Ahmedabad revealed unaccounted transactions of Rs. 500 Cr

The Controversy settled: Applicability of TDS on Purchase of Coal or Scrap after declaration in Form No. 27C

Faceless Appeal Scheme: Why should we interfere if assesses are happy, asks Bombay HC

Income Tax Raids on a real estate group in Mumbai and Navi Mumbai: No TDS on an amount of Rs. 300 Cr, Digital evidences of Tax evasion etc found

An overview of the provision related to “Transmission of Securities”

Redevelopment Agreement: Benefit received by Flat Owner in Society from developer on redevelopment is not taxable

Raids in Kolkata: Unaccounted income of Rs. 100 Cr detected

Rectification application against 143(1)(a): Court directed to dispose of the petitioner’s rectification application within six weeks

The purpose with which the law is enacted is more important for granting capital gain exemption u/s 54 or 54F

Income Tax Raid in MP: Accommodation entries Rs. 40 crore, Suppression of cash receipts Rs. 25 crore, Unaccounted cash Rs. 10 crore found

All about Legal Entity Identifier (LEI)

Income Tax Officer cannot disregard the transaction just because it results in a tax advantage to the assessee.

Fraud reporting by Auditor & Penal Consequences for non-reporting on the auditor

Kerala HC also admit petitions challenging the validity of faceless assessment procedure under Income Tax

Non issuance of Show Cause Notice and Draft Assessment Order is violation of Section 144B: Court set aside the order