Tag:
Income Tax
Direct Tax
Income Tax Dept. Launches Crackdown on Non-Compliance in Reporting High Value Transactions
The Income Tax Department has initiated a nationwide enforcement drive to identify and penalise reporting entities that have failed to comply with statutory obligations...
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 by National Highway Authority of India (NHAI) against land acquisition.
The...
Direct Tax
Supreme Court Dismisses Income Tax Dept’s Plea Over 248-Day Delay
The Supreme Court of India has dismissed a Special Leave Petition (SLP) filed by the Income Tax Department challenging a Bombay High Court ruling,...
Direct Tax
Rs. 2 Lakh Cost Imposed On Income Tax Dept. For Lodging Tax Evasion Prosecution Without ITAT Confirmation: Supreme Court
The Supreme Court has imposed the cost of Rs. 2 Lakhs on the income tax department for initiating prosecution for tax evasion without ITAT...
Direct Tax
Wedding Gifts Under Income Tax Act Can’t Be Treated As Unexplained Income: ITATÂ
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has set aside the tax department’s addition of unexplained income against a taxpayer, Manubhai,...
Case Compilation
Case Compilation Of Tribunal Rulings: Benami vs Income Tax
Here is the case compilation of tribunal rulings in respect of Benami versus Income Tax:
1. M/s Om Samriddhi Banquet & Hospitality LLP v. Initiating...
Direct Tax
Non-Payment Of Advocate’s Fee By Income Tax Dept. | Calcutta HC Dismisses Delayed Dept. Appeal
The Calcutta High Court has come down sharply on the Income Tax Department for failing to clear outstanding fee and expense bills of its...
Notification
Fake Income Tax Email Alert: Here’s What to Do If You Receive a ‘Manual Verification’ Email
Email Claims Manual Verification for Rs. 50,000 Refund
The Government of India has issued an urgent advisory cautioning taxpayers against fraudulent emails purporting to be...