Income Tax

Blog, News, Income Tax

December 9, 2024

No Concealment Penalty If Additions Made on Estimation and AO Failed to Prove Concealment of Income | ITAT

Case Details: ITO vs. Sunil … Continue reading “No Concealment Penalty If Additions Made on Estimation and AO Failed to Prove Concealment of Income | ITAT”

Blog, News, Income Tax

December 7, 2024

Putting Together a Structure of Plywood Sheets isn’t Constructing a Residential House | Delhi HC

Case Details: Sandeep Hooda vs. … Continue reading “Putting Together a Structure of Plywood Sheets isn’t Constructing a Residential House | Delhi HC”

Blog, News, Income Tax

December 6, 2024

Trust Not Liable to Pay Surcharge Just Because Its Income is Taxable at Maximum Marginal Rate | ITAT

Case Details: Jitendra Gala Navneet … Continue reading “Trust Not Liable to Pay Surcharge Just Because Its Income is Taxable at Maximum Marginal Rate | ITAT”

News, Blog, Income Tax

December 6, 2024

[Opinion] Types and Methods of Demerger

V K Subramani – [2024] … Continue reading “[Opinion] Types and Methods of Demerger”

Blog, News, Income Tax

December 5, 2024

Genuine Hardship Should Be Construed Liberally; Delay in Filing ITR Due to Advocate’s Inadvertence to Be Condoned | HC

Case Details: Nirzari Amitbhai Mehta … Continue reading “Genuine Hardship Should Be Construed Liberally; Delay in Filing ITR Due to Advocate’s Inadvertence to Be Condoned | HC”

Blog, News, Income Tax

December 5, 2024

Reassessment Quashed as Non-Taxpayer Couldn’t Be Expected to View Portal After 8 Years Lapse | HC

Case Details: Punniakotti vs. Income-tax … Continue reading “Reassessment Quashed as Non-Taxpayer Couldn’t Be Expected to View Portal After 8 Years Lapse | HC”

News, Blog, Income Tax

December 4, 2024

No Premature Redemption of Bonds to Ensure Financial Stability If Same Were Purchased to Claim Sec. 54EC Relief | HC

Case Details: Rakesh Kumar Saini … Continue reading “No Premature Redemption of Bonds to Ensure Financial Stability If Same Were Purchased to Claim Sec. 54EC Relief | HC”

Blog, News, Income Tax

December 3, 2024

Severance Payment Received Due to Redundancy and Job Termination Not Taxable as Profits in Lieu of Salary | ITAT

Case Details: Sudhakar Ratan Shanker … Continue reading “Severance Payment Received Due to Redundancy and Job Termination Not Taxable as Profits in Lieu of Salary | ITAT”

Blog, News, Income Tax

December 3, 2024

[Opinion] Faceless Assessments | Problems to Be Addressed for the Tax Reform Clock Not to Be Turned Back!!

Mayank Mohanka – [2024] 168 … Continue reading “[Opinion] Faceless Assessments | Problems to Be Addressed for the Tax Reform Clock Not to Be Turned Back!!”

Blog, News, Income Tax

December 2, 2024

CBDT Notified Safe Harbour Rules for Income From Selling Raw Diamonds in Any Notified Special Zone

Notification no. 124/2024, dated 29-11-2024 … Continue reading “CBDT Notified Safe Harbour Rules for Income From Selling Raw Diamonds in Any Notified Special Zone”