Tourist Visa for Business Trips Triggers Tax Trouble: ITAT
In a crucial ruling with significant implications for non-resident Indians (NRIs) and overseas entrepreneurs, the Income Tax Appellate Tribunal (ITAT) has upheld the Income...
Taxpayer Declared More Tax Than Due, Still Denied SVLDRS Relief: Bombay High Court Intervenes
In a classic case where the taxpayer has declared more tax than due under Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 (SVLDRS), the Bombay...
Bengaluru Court Permits Income Tax Probe of Actor Ranya Rao in Gold Smuggling Case
In a significant development in the high-profile gold smuggling case involving Kannada actor Ranya Rao, a special court for economic offences in Bengaluru has...
NRI Entitled to Full TDS Credit on Property Sale Despite Buyer’s Lapse; Delhi HC Orders Correction of Records and Refund Computation
The Delhi High Court has held that the Non-Resident Indian (NRI) is entitled to full Tax Collected At Source (TDS) Credit on property sale...
ITAT Distinguishes “Commencement Of Business” And “Setting Up Of A Business”; Expenses Incurred After Setting Up Of Business Eligible For Deduction
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that expenses incurred after the 'date of setting up of the business' are...
No Proof Of Involvement In Penny-Stock Manipulation: ITAT Allows STCG Claim For Genuine Equity Transactions
The Pune Bench of Income Tax Appellate Tribunal (ITAT) has allowed the short term capital gain (STCG) for genuine equity transactions as the department...
Appeal Against Denial Of Tax Exemption To ICICI Bank Retiree On Retirement Compensation Can’t Be Dismissed For Non-Appearance: Kerala HC
The Kerala High Court has held that the appeal against denial of tax exemption under Section 10(10C) of the Income Tax Act, 1961 to...
200% Penalty for False Deduction Claims; Govt. Tightens ITR Norms to Curb Tax Evasion
Government shall Impose 200% Penalty of the tax due, 24% interest per annum, and even prosecution under Section 276C of the Income Tax Act...
Disproportionate Assets case: Court Orders Attachment Of 14 Properties Of Income Tax Additional Commissioner
The Special Judge, Anti Corruption, CBI Court, Ghaziabad has issued ad interim order on 02.06.2025 for attachment of 14 properties of the then Additional...
Income Tax Compliance Calendar – June 2025
Use this calendar as a reference to manage your tax filings and avoid missing critical deadlines.DateComplianceApplicable ToDescription07 June 2025 (Saturday)TDS/TCS DepositAll deductors/collectorsDue date for...
Open Terrace/Portico Excluded From Built-Up Area Computation; Real Estate Developer Entitled To S. 80-IB Deduction: Telangana High Court
The Telangana High Court has held that the real estate developer is entitled to deduction under Section 80-IB of the Income Tax Act as...
La Pino’z Pizza’s Owner Complaint: IRS Officer Arrested by CBI in Rs 45 Lakh Bribery Case Linked to Income Tax Notice
The Central Bureau of Investigation (CBI) has arrested Anil Kumar Singal, a 2017-batch Indian Revenue Service (IRS) officer, from his residence in Delhi on...
Amazon Web Not Liable To Pay Royalty On Rendering Cloud Computing Services To Indian Entities: Delhi High Court
The Delhi High Court has held that the Amazon Web is not liable to pay Royalty on rendering cloud computing services to Indian Entities.The...
Creditworthiness Of Lender Can Be Challenged Under Income Tax Act And Not Under PBPT Act: Allahabad High Court Stays Benami Proceedings
The Allahabad High Court has stayed the benami proceedings and was of the prima facie view that Creditworthiness Of Lender Can Be Challenged Under...
Income Tax Reassessment Based On Pen Drive Info Quashed: Delhi High Court
The Delhi High Court quashed an income tax reassessment notice of Panch Tatva Promoters Pvt. Ltd. for the Assessment Year 2019–20 under Section 153C...
Non-Bailable Warrant Against Arjun Rampal in 2019 Tax Evasion Case Quashed: Bombay High Court
The Bombay High Court has set aside a non-bailable warrant issued against Bollywood actor Arjun Rampal in connection with a 2019 tax evasion case. The...
Start-Ups Can Avail Tax Incentives Using This Provision Of Income Tax
India's startup ecosystem has seen exponential growth over the past decade. Recognizing the sector’s potential to boost innovation, employment, and economic development, the Government...
Bogus Capital Gain Benefit: Calcutta High Court Upholds Reassessment
The Calcutta High Court has upheld the reassessment against the assessee who was beneficiary who received accommodation entry which was used to avail bogus...
Time Exclusion For Reassessment Applicable Only if Reference Made Under Indo-Swiss DTAA: Delhi High Court
The Delhi High Court has held that that time exclusion for reassessment applicable only if reference made under Indo-Swiss Double Tax Avoidance Agreement (DTAA).The...
Disallowance U/s 36(1)(va) Of Income Tax Act Not Permissible as Prima Facie Adjustment Prior to Supreme Court’s Checkmate Ruling: Chhattisgarh High Court
The Chhattisgarh High Court has held that the disallowance under section 36(1)(va) Of Income Tax Act is not permissible as prima facie adjustment prior...
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