This Is Why Bombay High Court Quashes Income Tax Reassessment Against Indusind Media
The Bombay High Court has quashed the income tax reassessment against Indusind Media.The bench of Justice M.S. Sonak and Justice Jitendra Jain has observed that...
Cash Deposit Limit In Saving Account As Per Income Tax Act – 2025 Updates
In India, the Income Tax Act governs various financial transactions, including cash deposits in banks. Understanding the cash deposit limit is crucial for individuals...
Bombay High Court Quashes Income Tax Advisory Denying BCCI Tax Exemption, Cancelling Registration
In a significant relief for the Board of Control for Cricket in India (BCCI), the Bombay High Court has set aside an Income Tax...
Delhi High Court Quashes Reassessment Proceedings Against Maruti Suzuki
The Delhi High Court has quashed reassessment proceedings against Maruti Suzuki.The bench of Justice Yashwant Varma and Justice Ravinder Dudeja has observed that it...
Assurances Not Evidence Of Nokia OY Using NIPL As Vehicle For Its Own Enterprise: Delhi High Court
The Delhi High Court has held that assurances were clearly not liable to be viewed as being evidence of Nokia OY using Nokia India...
Pre-Deposit For Income Tax Appeal
In a move to ease the financial burden on businesses and improve cash flow, tax experts are urging the government to relax the pre-deposit...
Reassessment Can’t Be Invoked On The Basis Of Search Action: Bombay High Court
The Bombay High Court has held that the reassessment cannot be invoked on the basis of search action.The bench of Justice G. S. Kulkarni...
New Income Tax Rules For Salaried Employees – TDS, Form 16, and Tax Slabs Updated
The Central Board of Direct Taxes (CBDT) has issued Circular No. 03/2025, dated February 20, 2025 notifying the income-tax deduction from salaries during the...
Reality Check: Exemption Available To Depreciable Assets Withdrawn In New Income Tax Bill 2025
The article is written by CA Deepak Gadgil, who is into direct and indirect tax litigation and advisory from past 10 years. The article...
Urban Ladder Home Décor Not Liable To TDS On Remittances To Facebook, Amazon Web-Services For Advertisements: Karnataka High Court
The Karnataka High Court has held that Urban Ladder Home Décor is not liable to TDS on remittances to Facebook, Amazon Web-Services for advertisements.The...
Direct Tax Weekly Flashback: 09 To 15 February 2025
Direct Tax Weekly Flashback for the period 9 to 15 February 2025.Supreme CourtSection 271AAA Relief: No 10% Penalty If Undisclosed Income Is Admitted, Substantiated,...
Bombay High Court Quashes Income Tax Assessments Orders Against Merged Reliance Units
The Bombay High Court has quashed the income tax assessments orders against merged Reliance Units.The bench of Justice M. S. Sonak and Justice Jitendra...
Select Committee To Review Income Tax Bill 2025 Constituted [READ OFFICIAL NOTIFICATION]
In a significant legislative move, Lok Sabha Speaker Om Birla has constituted a 31-member Select Committee to examine the newly proposed Income Tax Bill....
Section 271AAA Relief: No 10% Penalty If Undisclosed Income Is Admitted, Substantiated, and Tax Paid Even with Delay: Supreme Court
The Supreme Court has held that the penalty at the rate of 10% under Section 271AAA of the Income Tax Act, 1961 is normally...
Future Amendment Denying Depreciation On Goodwill Can’t Be The Basis For Reopening Assessment: Gujarat High Court
The Gujarat High Court has held that future amendment denying depreciation on goodwill cannot be the basis for reopening assessment.The bench of Justice Bhargav...
Section 148 Can’t Be Invoked For Change In Tax Rate For Future AYs: Bombay High Court
The Bombay High Court has held that merely because there is some change in the tax rate for the future assessment years, the provisions...
Bombay High Court Quashes Re-Assessment Proceedings Against ICICI Bank
The Bombay High Court has quashed the reassessment proceedings against ICICI Bank.The bench of Justice M. S. Sonak and Justice Jitendra Jain has observed...
Karnataka High Court Quashes Penalty For Non-Deduction Of TDS On Professional Advice
The Karnataka High Court has quashed the penalty for non-deduction of TDS on professional advice.The bench of Justice Krishna S Dixit and Justice G...
Tax on Gold in India: A Comprehensive Guide 2025
The article “Tax on Gold in India: A Comprehensive Guide 2025” covers all relevant topics such as different taxes on gold, tax saving tips,...
10 Points On Income Tax Bill 2025
The new Income Tax Bill 2025 is likely to be introduced in Parliament on February 13, 2025. The bill aims to simplify the existing Income...
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