Income Tax

Blog, News, Income Tax

April 21, 2025

CBDT Directed to Act Against Officials for Re-Transfer of Case Ignoring Ongoing Proceedings | HC

Case Details: 52 Weeks Entertainment … Continue reading “CBDT Directed to Act Against Officials for Re-Transfer of Case Ignoring Ongoing Proceedings | HC”

News, Blog, Income Tax

April 21, 2025

HC Slams ITAT for Restricting Disallowance to 3% of Bogus Purchases; Restores AO’s Order

Case Details: Principal Commissioner of … Continue reading “HC Slams ITAT for Restricting Disallowance to 3% of Bogus Purchases; Restores AO’s Order”

Blog, News, Income Tax

April 20, 2025

HC Slaps Exemplary Cost of ₹1 Crore on Revenue for Passing High-Pitched Order Against Non-Existing Bank

Case Details: Punjab National Bank … Continue reading “HC Slaps Exemplary Cost of ₹1 Crore on Revenue for Passing High-Pitched Order Against Non-Existing Bank”

Blog, News, Income Tax

April 18, 2025

[Opinion] Allegation of Bogus Purchases – Is It Genuine? Analysis of Recent Case Laws

Navneet Singal – [2025] 173 … Continue reading “[Opinion] Allegation of Bogus Purchases – Is It Genuine? Analysis of Recent Case Laws”

Blog, News, Income Tax

April 18, 2025

Supreme Court Instructed Courts to Inform Income-Tax Dept. About Suits Involving Cash Payments Over ₹2 Lakh

Case Details: Correspondence, RBANMS Educational … Continue reading “Supreme Court Instructed Courts to Inform Income-Tax Dept. About Suits Involving Cash Payments Over ₹2 Lakh”

Blog, Income Tax

April 18, 2025

New Presumptive Taxation Scheme – Concept and Applicability

The New Presumptive Tax Scheme … Continue reading “New Presumptive Taxation Scheme – Concept and Applicability”

Blog, News, Income Tax

April 17, 2025

[Opinion] Reassessment Procedure in the Income Tax Bill, 2025 | A Legislative U-Turn in Disguise

Shikhar Garg – [2025] 173 … Continue reading “[Opinion] Reassessment Procedure in the Income Tax Bill, 2025 | A Legislative U-Turn in Disguise”

Blog, News, Income Tax

April 17, 2025

No Concealment Penalty if Additions Were Based on Bank Transactions Already Available With AO | ITAT

Case Details: Ismailbhai Savdibhai Hira … Continue reading “No Concealment Penalty if Additions Were Based on Bank Transactions Already Available With AO | ITAT”

Blog, News, Income Tax

April 17, 2025

[Opinion] These New Relatives Can Give Gifts

Meenakshi Subramaniam – [2025] 173 … Continue reading “[Opinion] These New Relatives Can Give Gifts”

Blog, News, Income Tax

April 17, 2025

HC Can’t Issue a Mandamus to ITAT to Admit and Consider Additional Evidence if Order of ITAT Wasn’t Challenged | HC

Case Details: Commissioner of Income-tax … Continue reading “HC Can’t Issue a Mandamus to ITAT to Admit and Consider Additional Evidence if Order of ITAT Wasn’t Challenged | HC”