No Penalty for Debatable Tax Claims Made in Good Faith: ITAT Chennai
No Penalty for Debatable Tax Claims Made in Good Faith: ITAT Chennai The ITAT Chennai quashed the 200% penalty…
Income Tax
Interpretation of “First Offence” under the 2014 Guidelines by the Apex Court
Interpretation of “First Offence” under the 2014 Guidelines by the Apex Court In a case before Supreme court in Vinubhai…
If any third-party search (u/s 132) reveals incriminating material related to an assessee, the department should proceed under section 153C, rather than invoking section 147/148.
If any third-party search (u/s 132) reveals incriminating material related to an assessee, the department should proceed under section 153C,…
All the offences committed prior to issuance of show cause notice/intimation for launching of prosecution falls within the purview of “first offence”: Supreme Court
All the offences committed prior to issuance of show cause notice/intimation for launching of prosecution falls within the purview of…
Validity of reopening of Assessment done by passing order u/s 148A(d) after 3 years, though notice u/s 148A(b) was issued within 3 years
Validity of reopening of Assessment done by passing order u/s 148A(d) after 3 years, though notice u/s 148A(b) was issued…
Income Tax Bill 2025: ‘Notwithstanding’ Vs. ‘Irrespective Of’
Income Tax Bill 2025: ‘Notwithstanding’ Vs. ‘Irrespective Of’ As far as GAAR provisions (Chapter XI ) in the Income…
Allowing 2 Self-Occupied House Properties: A Welcome Move by Finance Bill 2025
Allowing 2 Self-Occupied House Properties: A Welcome Move by Finance Bill 2025 The Budget 2025 has introduced a significant change…
New Income Tax Bill – 2025: No Proposed Change in Capital Gains
New Income Tax Bill – 2025: No Proposed Change in Capital Gains The Bill retains the current tax rates for…
Finance Bill 2025: Key Amendments Impacting Charitable Trusts
Finance Bill 2025: Key Amendments Impacting Charitable Trusts Charitable trusts and institutions have historically faced complex compliance requirements, including…
New Income Tax Bill 2025 : Exemption against Long-term Capital “Gain” & not against Long-Term Capital “Asset”
New Income Tax Bill 2025 : Exemption against Long-term Capital “Gain” & not against Long-Term Capital “Asset” While over viewing the…
Important Key Points about the New Income Tax Bill, 2025
Important Key Points about the New Income Tax Bill, 2025 1. New Income Tax Bill Structure & Implementation The New…
Re-assessment notice issued to a ‘Non-Existing Entity’ is a substantive violation and not merely a procedural one, as adverted to in Section 292B of the Income Tax Act, 1961.
Re-assessment notice issued to a ‘Non-Existing Entity’ is a substantive violation and not merely a procedural one, as adverted to…
Documents which are not under the control of the assessee could be summoned U/S 131: Karnataka HC
Documents which are not under the control of the assessee could be summoned U/S 131: Karnataka HC PCIT Vs…
The rules for setting off house property losses under the new tax regime:
The rules for setting off house property losses under the new tax regime: Unlike the old tax regime, where house…
Demystifying AIF Taxation: What Every Investor Should Know
Demystifying AIF Taxation: What Every Investor Should Know With alternative investments gaining traction, understanding the tax implications of different…
Presumptive income under the New Income Tax Bill, 2025:
Presumptive income under the New Income Tax Bill, 2025: 1. Introduction: The new Income Tax Bill introduces significant changes to…
SC reinforces the principle that while granting registration, focus should be on proposed charitable activities and not past activities:
SC reinforces the principle that while granting registration, focus should be on proposed charitable activities and not past activities: …
Key Points about the New Income Tax Bill, 2025
Key Points about the New Income Tax Bill, 2025 1. New Income Tax Bill Structure & Implementation The New…
