Bombay High Court Quashes Income Tax Reassessment Against Tata Communications
The Bombay High Court has quashed the income tax reassessment against Tata Communications in the absence of any fresh tangible material, the proceedings were...
Income-Tax Dept. Issues Notices Over Mismatch in High-Value Expenses and Bank Withdrawals
The Income-Tax (I-T) department has recently intensified scrutiny on high-income individuals whose bank withdrawals appear disproportionately low compared to their overall spending. Reports suggest that...
Many Taxpayers Receive Emails on Outstanding Income Tax Dues: Here’s What You Can Do
Several taxpayers across India have reported receiving official emails from the Income Tax Department notifying them about their pending tax dues. The emails, sent...
Income Tax Dept. Can’t Indefinitely Attach Properties Without Steps To Resolve Matter: Delhi High Court
The Delhi High Court while ruling in favour of Fasttrack has held that it is impermissible for the department to keep the properties attached...
Bombay High Court Imposes Cost Of Rs. 10K For Assessee’s Failure To Inform AO About Pendency Of Objections Before DRP
The Bombay High Court has imposed the cost of Rs. 10K on Assessee, who failed to inform the Assessing Officer (AO) about pendency of...
Bombay High Court Condones Delay In Filing ITR For AYs 2017-18 And 2018-19
The Bombay High Court has condoned the delay in filing income tax return (ITR) for Assessment Years (AY) 2017-18 and 2018-19.The bench of Justice...
Absence Of Bank Statements To Prove Purchases: Bombay High Court Disallows Bogus Purchases
The Bombay High Court while disallowing the bogus purchases under section 69C of the Income Tax Act, held that in the absence of bank...
RaOne Tax Case: ITAT Quashes Reassessment Against Shah Rukh Khan
The Mumbai Bench of Income tax Appellate Tribunal (ITAT) has quashes income tax reassessment against Shah Rukh Khan for not paying tax in India...
15th March is Approaching: Everything You Need to Know About Advance Tax Payment
As the financial year 2024-25 nears its end, taxpayers must ensure they meet their advance tax obligations. The due date for the fourth and...
ITAT Upholds Deletion Of Addition Worth Rs. 34.50 Crores On Account Of Disallowance Of “Provision For Depreciation”
The Pune bench of Income Tax Appellate Tribunal (ITAT) has upheld the deletion of addition worth Rs. 34.50 crores on account of disallowance of...
Detailed Analysis of the Income Tax Act: Key Sections for Taxpayers and Businesses
The Income Tax Act of 1961 is the cornerstone of India's tax system. It governs the collection of taxes on income generated by individuals,...
Date of Digital Signature on Reassessment Notice Considered as Date of Issuance, Not Printed Date: ITAT
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the date of signing of the reassessment notice through digital signature should...
You Still Pay Income Tax On Income Arising From Transfers Made To Daughter-in-Law
In a recent clarification, the Income Tax Department has reiterated that income derived from assets transferred to one's daughter-in-law without adequate consideration will be...
S. 9C Bogus Purchase Fully Disallowed: Bombay High Court
The Bombay High Court has held that the bogus purchase under Section 9C of the Income Tax is fully disallowed.The bench of Justice M....
Income Tax Dept. Starts Investigation Against Unlisted Share Deals and Tax Evasion In OFS Transactions
The Income Tax (I-T) Department has launched a large-scale investigation into potential tax evasion linked to unlisted share transactions and Offer for Sale (OFS)...
PRIVACY UNDER THREAT | Income Tax Dept. May Access Digital Accounts
Reportedly, a groundbreaking amendment to India’s Income Tax laws is set to take effect from April 1, 2026, granting tax authorities sweeping powers to...
Income Tax Addition Made On Estimation Against, No Penalty Is Leviable: ITAT
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that no penalty is leviable on the assessee, when the addition on account...
Advocate Can’t Be Blamed For Delay Of 2655 Days In Filing Appeal, Mere Handing Over Appeal Papers Is Not Enough: ITAT
The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has held that the advocates, and Chartered Accountants (CA) cannot be blamed for delay of...
Faceless Assessment | Delhi High Court Expresses Concern Over Pending Appeals Before NFAC, Urges Expedited Disposal
The Delhi High Court has expressed the Concern over pending appeals before National Faceless Appeal Centre (NFAC) and urges expedited disposal.The bench of Chief...
Interest Payable On Refund Under DTVSV Scheme: Gujarat High Court
The Gujarat High Court has held that the interest is payable on refund under Direct Tax Vivad Se Vishwas Act 2020 (DTVSV Scheme) even...
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