Following the introduction of the Income Tax Bill 2025 in Parliament, ICAI has expressed its strong support for the proposed ...

ITAT Nagpur held that rejecting application for registration u/s. 10 (23C) of the Income Tax Act for the acts which have not ...

ITAT Raipur held that there were justifiable reasons for the assessee firm of having remained unaware about the on-going ...

Following Budget 2024, the long-term capital gains on domestic and foreign equity funds/ETFs/FOFs were to be taxed at 12.5%.

Jharkhand High Court ruled that tax authorities must follow the due process before passing adjudication orders under the ...

CESTAT Chennai held that refund of excess duty paid is allowable since delay in filing of bill of entry was on account of system error. Thus, appeal of revenue dismissed and refund granted by lower ...

Between the financial years 2021-22 and 2023-24, corporate tax concessions had a significant revenue impact. For instance, deductions for SEZ units under Section 10AA resulted in tax savings of ...

Gujarat High Court held that passing of order u/s. 148A (d) of the Income Tax Act without considering reply filed by the petitioner by not granting adjournment time as prescribed u/s. 148A (b). Thus, ...

Kolkata addressed the validity of a reassessment initiated under Section 147 of the Income Tax Act. The tribunal found that the Assessing Officer (AO) had reopened the assessment based on vague and ...

Finance Bill 2025 proposes a revised tax structure under the new regime, exempting annual income up to ₹12 lakh for resident individuals through a rebate. The new tax slabs introduce a progressive tax ...

Disciplinary Committee (DC) suspended Insolvency Professional Anil Mehta for three months due to misconduct during the liquidation of Pratibha Industries Limited. The investigation revealed that Mehta ...

ITAT Delhi held that revision under section 263 of the Income Tax Act not tenable as PCIT failed to specify definite error in the order and also AO has made proper inquiry and has taken plausible view ...