Notices Incoming for Non-Filers- An action under section 148 in process
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Notices Incoming for Non-Filers- An action under section 148 in process The IT Department has identified non-filers and is…
Income Tax
An addition of ₹ 10.33 Cr as commission income in the hands of the Auto Rickshaw Driver – ITAT Deleted addition with direction that the real culprits should be investigated
An addition of ₹ 10.33 Cr as commission income in the hands of the Auto Rickshaw Driver – ITAT Deleted addition with…
Allotment date & not registration date is relevant for determining the holding period for capital Assets as Long-Term or Short-Term
Allotment date & not registration date is relevant for determining the holding period for capital Assets as Long-Term or Short-Term…
When Luxury Meets Tax: CBDT’s New TCS Rules for Watches, Home Theatres — and Even Horses!
When Luxury Meets Tax: CBDT’s New TCS Rules for Watches, Home Theatres — and Even Horses! CBDT’s latest notification…
Rejection of Books of Accounts: The profit estimation cannot be arbitrary or without any basis.
Rejection of Books of Accounts: The profit estimation cannot be arbitrary or without any basis. Let us have a Short…
Compensation received for removing the nuisance should be treated as a capital receipt and hence not taxable: ITAT Mumbai
Compensation received for removing the nuisance should be treated as a capital receipt and hence not taxable: ITAT Mumbai Mumbai…
Unaccounted amount of Rs 103 cr credited to the account of a rickshaw driver: ITAT deleted the addition
Unaccounted amount of Rs 103 cr credited to the account of a rickshaw driver: ITAT deleted the addition Surendra…
Whether retraction of statement, without discrediting corroborative evidence, is insufficient to nullify additions under Sections 69A and 69C?
Whether retraction of statement, without discrediting corroborative evidence, is insufficient to nullify additions under Sections 69A and 69C? Chhattisgarh High…
Interest received in respect of delayed payment of compensation to be treated as accruals to the principal compensation amount
Interest received in respect of delayed payment of compensation to be treated as accruals to the principal compensation amount …
Scheme of Section 144B only requires service of a draft assessment order along with the SCN in case of eligible Assessee
Scheme of Section 144B only requires service of a draft assessment order along with the SCN in case of eligible…
Mutual Fund Gains of Singapore Resident Not Taxable in India under DTAA: ITAT Mumbai
Mutual Fund Gains of Singapore Resident Not Taxable in India under DTAA: ITAT Mumbai ITAT Mumbai recently has held that…
Transfer of Depreciable Assets: Tax rate prescribed U/s 112 is applicable even if it is deemed to be taxed as short-term capital gains U/s 50.
Transfer of Depreciable Assets: Tax rate prescribed U/s 112 is applicable even if it is deemed to be taxed as…
ITAT Delhi Sets Aside Reassessment over Missing Section 143(2) Notice
ITAT Delhi Sets Aside Reassessment over Missing Section 143(2) Notice Recently, ITAT Delhi Sets Aside Reassessment Over Missing Section…
Remuneration and interest of a partner from partnership firm not covered U/s 44AD: Madras HC
Remuneration and interest of a partner from partnership firm not covered U/s 44AD: Madras HC Remuneration and interest received…
An incorrect assumption of facts makes the entire reopening process legally untenable: ITAT Deharaudun
An incorrect assumption of facts makes the entire reopening process legally untenable: ITAT Deharaudun ITAT Dehradun in the case…
ITAT directed CIT (E) for giving Permanent Registration as procedural non-compliance with state law doesn’t automatically imply non-genuineness of charitable activity.
ITAT directed CIT (E) for giving Permanent Registration as procedural non-compliance with state law doesn’t automatically imply non-genuineness of charitable…
Power under section 245(2) to withhold refunds: An Overview
Power under section 245(2) to withhold refunds: An Overview Introduction: Introduced by the Finance Act, 2023, this sub section…
Form 10AB with condonation option now available on e-filing portal
Form 10AB with condonation option now available on e-filing portal 1. Introduction: The Income Tax Department has enabled the filing…
