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Direct Tax
Rental Income Doesn’t Disqualify Trusts from Charitable Status: ITAT
The Income Tax Appellate Tribunal (ITAT) Pune has held that earning rental income does...
Direct Tax
Medical Expense of Director is an Allowable Business Expenditure in Hands of Company: ITAT
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has held that medical expense...
Direct Tax
Large-Scale Gold Trade Suppression Detected, Rs. 1.27 Crore Concealed Turnover Brought Back to Income Tax Net: Madras High Court
The Madurai Bench of the Madras High Court has set aside the orders of...
Direct Tax
ICAI Publishes Bare Law of Income-tax Act, 2025: Key Highlights and Differences from 1961 Act
The Institute of Chartered Accountants of India (ICAI) has released the Bare Law of...
Direct Tax
Black Money Act Inapplicable to Non-Existent Foreign Assets: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) in a high-profile case...
Direct Tax
CBDT Circular Exception For Bogus Penny Stock LTCG/STCL Doesn’t Apply Where Assessee Has Claimed Business Loss; Revenue Appeal Below Monetary Limit Not Maintainable: ITAT
The Delhi bench of Income Tax Appellate Tribunal (ITAT) has held that CBDT Circular...
Direct Tax
ITAT Third Member Deletes Demand of Rs 549 Cr Against Microsoft India Citing Limitation Ground
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has d𝗲𝗹𝗲𝘁𝗲d 𝗱𝗲𝗺𝗮𝗻𝗱 𝗼𝗳 𝗥𝘀...
Direct Tax
Can AO Review His Own Findings From Original Assessment Under New Reassessment Regime? Gujarat HC Answers
The Gujarat High Court has held that the AO cannot review his own findings...
Direct Tax
Writ Petition Filed In Punjab & Haryana High Court Regarding Tax Audit due date extension for FY 2024-25
The writ petition has been filed before the Punjab & Haryana High Court regarding the...
Direct Tax
No Income Tax Payable On Compensation Paid By NHAI Against Land Acquisition: Chhattisgarh High Court
The Chhattisgarh High Court has held that no income tax payable on compensation paid...
Direct Tax
Retired Income Tax Officer Fell Prey To Investment Fraud; Gujarat HC Grants Bail To Accused
The Gujarat High Court has granted regular bail to an accused in a high-profile...
Direct Tax
No TDS Default On Property Purchase From Non-Resident: ITAT
The Visakhapatnam Bench of Income Tax Appellate Tribunal (ITAT) has dismissed an appeal filed...
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Columns
Russian Crude Makes Up Nearly 50% of India’s Oil Imports in June
India’s dependence on Russian crude oil strengthened further in June, with imports from Russia...
Indirect Taxes
Customs Seizes Hydroponic Weed Worth ₹4.83 Crore at Delhi IGI Airport
The Customs officers of the Air Intelligence Unit (AIU) at Indira Gandhi International (IGI)...
GST
Validity of Post-GST Service Tax Proceedings Upheld: Gujarat High Court Dismisses Challenge to S. 73 SCN
The Gujarat High Court has dismissed a writ petition challenging a service tax show...
Indirect Taxes
No Recovery After Repeal: Gujarat HC Sets Aside Excise Demand Based on Omitted S. 3A and R. 96ZQ
The Gujarat High Court has set aside a long-pending central excise demand against a...