Neither Section 41(1) nor Section 68 applied to the lease deposits and booking Advances: ITAT
Neither Section 41(1) nor Section 68 applied to the lease deposits and booking Advances: ITAT The ITAT upheld the Commissioner…
Income Tax
Income Tax Department cannot indefinitely keep the properties attached: Delhi HC
Income Tax Department cannot indefinitely keep the properties attached: Delhi HC Fasttrack Tieup Pvt. Ltd. Versus UOI Case No.: W.P.(C)…
Call centre services are not technical or managerial services: Bombay HC
Call centre services are not technical or managerial services: Bombay HC Commissioner of Income-Tax (TDS)-2 Versus Vodafone Essar Ltd…
Income Tax Department’s Scrutiny of Household Withdrawals: A Wake-Up Call for Taxpayers
Income Tax Department’s Scrutiny of Household Withdrawals: A Wake-Up Call for Taxpayers Imagine opening your mailbox and finding a notice…
Where the assessee has submitted all the necessary documentary evidence, addition of bogus purchases cannot be made: ITAT Delhi
Where the assessee has submitted all the necessary documentary evidence, addition of bogus purchases cannot be made: ITAT Delhi Facts:…
WhatsApp Messages alone Cannot Justify addition under Section 69C Addition: Mumbai ITAT
WhatsApp Messages alone Cannot Justify addition under Section 69C Addition: Mumbai ITAT In a significant ruling of ACIT v/s…
CIT (A) non admission of confirmation of account as additional Evidence – ITAT restored the matter to AO for fresh adjudication
CIT (A) non admission of confirmation of account as additional Evidence – ITAT restored the matter to AO for fresh adjudication…
No question of law if Assessing Officer had concluded that the transaction of purchase and sale of shares was a sham transaction & disallowed Short-Term Capital Loss
No question of law if Assessing Officer had concluded that the transaction of purchase and sale of shares was a…
Making March Meaningful: Smart Moves to Save Big Before the Deadline
Making March Meaningful: Smart Moves to Save Big Before the Deadline March is when businesses and taxpayers scramble to…
Capital Gain Taxation: ITAT Hyderabad interesting judgement on DVO, Litigation Expenses, Cost of Improvement
Capital Gain Taxation: ITAT Hyderabad interesting judgement on DVO, Litigation Expenses, Cost of Improvement The appeal (ITA No. 442/Hyd/2023)…
Compliance Calendar for March’2025
Compliance Calendar for March’2025 INCOME TAX ▪ 2nd March 2025 – Due date for furnishing of challan-cum-statement in respect of…
An overview of Tax Fee Perquisite for the salaried Taxpayers
An overview of Tax Fee Perquisite for the salaried Taxpayers Income Tax rules do permit tax-free perquisites, so salaried people…
New Income Tax Bill 2025 vs. Taxation of slump sale: What has changed.
New Income Tax Bill 2025 vs. Taxation of slump sale: What has changed. Here is an observation, in the new…
Once an assessment is linked to a search operation, it must be reopened under Section 153A/153C & not under Section 1480
Once an assessment is linked to a search operation, it must be reopened under Section 153A/153C & not under Section…
Budget 2025: Welcome relief for individuals remitting funds abroad for educational purposes under the Liberalized Remittance Scheme (LRS).
Budget 2025: Welcome relief for individuals remitting funds abroad for educational purposes under the Liberalized Remittance Scheme (LRS). The…
Union Budget 2025: Extended Tax Benefits on contributions to NPS Vatsalya accounts
Union Budget 2025: Extended Tax Benefits on contributions to NPS Vatsalya accounts The Budget 2025 proposes to extend tax…
Once a search action U/s 132 forms the foundation of a case, the Revenue must proceed under Section 153A/153C, rather than invoking reassessment under Section 147/148
Once a search action U/s 132 forms the foundation of a case, the Revenue must proceed under Section 153A/153C, rather…
Structural Change in the Income-Tax Bill, 2025
Structural Change in the Income-Tax Bill, 2025 The Income-Tax Bill, 2025 is a proposed new legislation aimed at replacing the…
