Income Tax

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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”

Blog, News, 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”

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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”

News, Blog, 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”

Blog, News, Income Tax

December 2, 2024

Due Date for Filing ITR for AY 2024-25 for Assessee Required to Furnish TP Report Extended Till 15-12-2024 | CBDT

Circular no. 18/2024, dated 30-11-2024 … Continue reading “Due Date for Filing ITR for AY 2024-25 for Assessee Required to Furnish TP Report Extended Till 15-12-2024 | CBDT”

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November 30, 2024

No Sec. 194N TDS on Cash Withdrawal by Foreign Representations Approved by Ministry of External Affairs | CBDT

Notification No. 123/2024, dated 28-11-2024 … Continue reading “No Sec. 194N TDS on Cash Withdrawal by Foreign Representations Approved by Ministry of External Affairs | CBDT”

Blog, News, Income Tax

November 30, 2024

Penalty Order Passed in Co.’s Old Name is Valid and a Curable Defect | HC

Case Details: Commissioner of Income-tax … Continue reading “Penalty Order Passed in Co.’s Old Name is Valid and a Curable Defect | HC”

Blog, News, Income Tax

November 29, 2024

No Tax on Surplus of Company Formed by Members of Industrial Association to Reduce Pollution | HC

Case Details: Commissioner of Income-tax … Continue reading “No Tax on Surplus of Company Formed by Members of Industrial Association to Reduce Pollution | HC”