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Direct Tax
Bombay High Court Quashes Stay Order After Finding Tax Authority Wrongly Taxed Gross Receipts Instead of Income
The Bombay High Court has set aside an order that required the institution to...
Direct Tax
Income Tax Dept. Turns Spotlight on Credit Card Reward Misuse
A new wave of income-tax scrutiny is sweeping across India — and this time,...
Direct Tax
Income Tax Dept. Seeks Justification for Household Expenses, Including Haircuts and Perfumes
In a move that signals a sharp shift in the intensity of individual tax...
Direct Tax
Income Tax Reassessment Invalid in Absence of Incriminating Material: Delhi HC
The Delhi High Court has dismissed the appeal filed by the Principal Commissioner of...
Direct Tax
Partnership Deed Contained No Recital Regarding Contribution Of Capital By Partners: AP High Court Upholds Addition of Rs. 33 Lakh for Unexplained Cash Deposits
The Andhra Pradesh High Court has dismissed Income Tax Tribunal Appeal affirming the decision...
Direct Tax
Bombay HC Frowns On Customs Officials for Not Issuing Speaking Order; Imposes Rs. 25,000 Cost
The Bombay High Court has pulled up Customs authorities for failing to issue a...
Direct Tax
Rs. 10K Cost Imposed On CIT(A) For Passing One-Line Order: Gujarat HC
The Gujarat High Court has imposed the cost of Rs. 10,000 on the Commissioner...
Direct Tax
PCIT Sanction Sufficient For Tax Evasion Exceeding Rs. 25 Lakhs; No Need for Collegium Approval: Delhi HC
The Delhi High Court while upholding the validity of Circular No. 5/2020 dated 23.01.2020...
Direct Tax
Foreign Entity Not Required to File ITR: ITAT Quashes Reassessment Against UAE Taxpayer
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed the reassessment...
Direct Tax
Calcutta HC Orders Refund of Wrongly Deducted TDS on Arbitral Award; Rejects Interest Claim
The Calcutta High Court has directed the Award Debtor to refund the Tax Deducted...
Direct Tax
Issuance of Re-Assessment Notice Prior To Supply Of Recorded Reasons U/s 147 Is Fatal Procedural Lapse: ITAT
The Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that the Issuance of...
Direct Tax
Black Money Act Triggers When AO Notices the Transaction — Not When Undertaken: ITAT Deletes Foreign Asset Addition
In a landmark interpretation of the Black Money (Undisclosed Foreign Income and Assets) Act,...
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ITR Deadline Extension Highly Unexpected: Know Why?
As the due date for filing Income-tax Returns (ITRs) draws closer, many taxpayers continue...
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How to Claim Up to Rs. 10 Crore Capital Gains Tax Exemption? Know Strategy
Many taxpayers believe that once they earn a large capital gain, tax is unavoidable....
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Finding a good Chartered Accountant is no longer limited to searching for a local...
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Can Indian Lawyers Really Make ₹1 Crore Per Day? Truth Revealed
The idea that Indian lawyers can earn ₹1 crore in a single day sounds...