LEGAL OWNERSHIP ALONE DOES NOT DETERMINE TAXABILITY ON CAPITAL GAINS IF THE ASSESSEE LACKS BENEFICIAL OWNERSHIP.
LEGAL OWNERSHIP ALONE DOES NOT DETERMINE TAXABILITY ON CAPITAL GAINS IF THE ASSESSEE LACKS BENEFICIAL OWNERSHIP. Income Tax Appellate…
Income Tax
Revised Limit for Micro, Small, and Medium Enterprises (MSMEs), effective from April 01, 2025.
Revised Limit for Micro, Small, and Medium Enterprises (MSMEs), effective from April 01, 2025. The Government of India has…
Step-Sibling is a ‘Relatives’ Under Section 56(2)(vii) – Tax Exemption available: ITAT
Step-Sibling is a ‘Relatives’ Under Section 56(2)(vii) – Tax Exemption available: ITAT The primary issue in this case revolved…
An overview of recent cases by Bombay High Court on Bogus Purchase vs. Addition under section 69C
An overview of recent cases by Bombay High Court on Bogus Purchase vs. Addition under section 69C Recently Hon’ble…
No reopening permissible if there is no failure on the part of the assessee disclose the full and true facts during assessment proceeding: SC in Mangalam Publication vs. CIT
No reopening permissible if there is no failure on the part of the assessee disclose the full and true facts…
Reopening for Change of opinion which is not permissible: Bombay HC
Reopening for Change of opinion which is not permissible: Bombay HC In Dilip Powar Vs. ITO before the Bombay…
Key Income Tax Changes applicable from 1st April 2025
Key Income Tax Changes applicable from 1st April 2025 The Finance Bill – 2025 has officially received the President’s assent on 29th March…
New Compliance for companies purchasing good/service from MSME
New Compliance for companies purchasing good/service from MSME MINISTRY OF MICRO, SMALL AND MEDIUM ENTERPRISES NOTIFICATION New Delhi, the…
Key Amendments to Tax Audit Report (Form 3CD) – Effective from April 1, 2025 (FY 24/25):
Key Amendments to Tax Audit Report (Form 3CD) – Effective from April 1, 2025 (FY 24/25): 1. Additional reporting…
Estimated rate of Gross Profit should be arrived at taking into due consideration the specific circumstances prevailing in the Assessee’s case: ITAT
Estimated rate of Gross Profit should be arrived at taking into due consideration the specific circumstances prevailing in the Assessee’s…
Bombay High court dismissed writ petition as petitioner has already availed an alternate remedy – Imposed costs of Rs. 1 Lakh.
Bombay High court dismissed writ petition as petitioner has already availed an alternate remedy – Imposed costs of Rs. 1…
Additional Deduction of 90% of an Employee’s Salary as an additional Deduction!
Additional Deduction of 90% of an Employee’s Salary as an additional Deduction! If any employer is hiring new employees,…
Madras High Court: Voluntary Payment in Form GST DRC-03 to be Treated as Pre-Deposit for Appeals!
Madras High Court: Voluntary Payment in Form GST DRC-03 to be Treated as Pre-Deposit for Appeals! In a landmark…
35 Amendment proposed while moving the Finance Bill 2025 in the Lok Sabha: An overview of key amendment
35 Amendment proposed while moving the Finance Bill 2025 in the Lok Sabha: An overview of key amendment Continuing the…
Notice u/s. 143(2) issued by non-jurisdictional AO is bad-in-law: ITAT Kolkata
Notice u/s. 143(2) issued by non-jurisdictional AO is bad-in-law: ITAT Kolkata Facts: 1. A notice u/s 143(2) of the…
Making March Meaningful: CSR Compliances before 31st March Ends
Making March Meaningful: CSR Compliances before 31st March Ends Before the Financial Year ends 2025, CSR heads of the corporate…
Madras High Court Accepts Petitioner’s Ignorance as Genuine Due to Failed Notices via Portal, Email, and RPAD, and 8-Year Delay Since Transaction
Madras High Court Accepts Petitioner’s Ignorance as Genuine Due to Failed Notices via Portal, Email, and RPAD, and 8-Year Delay…
Personal penalty on director Under GST- Allahabad HC Questions Legality
Personal penalty on director Under GST- Allahabad HC Questions Legality In a major development, the Allahabad High Court has…
