Income Tax

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August 8, 2024

[Opinion] Vivad Se Vishwas Scheme 2024 | A Step Further in an Endeavor to Reduce Pending Litigation

Anjana Singh & Parul Shah … Continue reading “[Opinion] Vivad Se Vishwas Scheme 2024 | A Step Further in an Endeavor to Reduce Pending Litigation”

Blog, News, Income Tax

August 8, 2024

Sale of Right & Interest in Shares Not Taxable If Same Were Acquired Through Agreement Executed Outside India | ITAT

Case Details: Nikesh Arora vs. … Continue reading “Sale of Right & Interest in Shares Not Taxable If Same Were Acquired Through Agreement Executed Outside India | ITAT”

Blog, News, Income Tax

August 7, 2024

No Higher TDS/TCS If Deductee/Collectee Dies On or Before 31-05-24 Without Linking PAN-Aadhaar | CBDT

Circular no. 8/2024, dated 05-08-2024 … Continue reading “No Higher TDS/TCS If Deductee/Collectee Dies On or Before 31-05-24 Without Linking PAN-Aadhaar | CBDT”

Blog, News, Income Tax

August 7, 2024

ITAT Quashed Order as AO Started Making Enquiries on Loans Even Before Converting Case Into Full Scrutiny

Case Details: Sukhdham Infrastructures LLP … Continue reading “ITAT Quashed Order as AO Started Making Enquiries on Loans Even Before Converting Case Into Full Scrutiny”

News, Blog, Income Tax

August 6, 2024

[Opinion] Critical Appreciation of Amendments Proposed in Finance (No. 2) Bill, 2024

CA V K Subramani – … Continue reading “[Opinion] Critical Appreciation of Amendments Proposed in Finance (No. 2) Bill, 2024”

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August 6, 2024

HC Quashed Reassessment Notice Issued by JAO Without Conducting Faceless Assessment as Envisaged u/s 144B

Case Details: Jasjit Singh v. … Continue reading “HC Quashed Reassessment Notice Issued by JAO Without Conducting Faceless Assessment as Envisaged u/s 144B”

Blog, News, Income Tax

August 5, 2024

CBDT Specifies Situations Where Enquiries/Verification Tasks by Verification Unit Not to Be Communicated Electronically

F. No. 1871712024-ITA-I, dated 01-08-2024 … Continue reading “CBDT Specifies Situations Where Enquiries/Verification Tasks by Verification Unit Not to Be Communicated Electronically”

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August 5, 2024

AO to Record Specific Finding That Undisclosed Income Was Based on Tangible Material Before Levying Penalty u/s 271AAA

Case Details: Ajay Kumar Sood … Continue reading “AO to Record Specific Finding That Undisclosed Income Was Based on Tangible Material Before Levying Penalty u/s 271AAA”

News, Blog, Income Tax

August 3, 2024

Record 7.28 Crore ITRs Filed by July 31, 2024; 72% of Taxpayers Opted for New Tax Regime | FinMin

Press Release, dated 02-08-2024 The … Continue reading “Record 7.28 Crore ITRs Filed by July 31, 2024; 72% of Taxpayers Opted for New Tax Regime | FinMin”

Blog, News, Income Tax

August 3, 2024

Corpus Donations Can’t Be Treated as Rent Just Because Trust Declared Additional Service Income Under Amnesty Scheme

Case Details: Thamizhvel PT Rajan … Continue reading “Corpus Donations Can’t Be Treated as Rent Just Because Trust Declared Additional Service Income Under Amnesty Scheme”