The Bangalore bench of the Income Tax Appellate Tribunal ( ITAT ) has ordered a reconsideration, noting substantial evidence indicating that a taxpayer engaged in a money transfer business utilizing platforms such as M-Pesa and

The Income Tax Appellate Tribunal ( ITAT ) has directed the Assessing Officer ( AO ) to delete the addition of Rs. 4.71 crore after observing the AO's failure to recompute book profit under Section

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has granted relief to Shell Information Technology, ruling that payments for IT support services were not considered fees for technical services under the

The Delhi bench of the Income Tax Appellate Tribunal ( ITAT ) has nullified the addition of Rs. 25 lakhs under Section 56 of the Income Tax Act, stating that the taxpayer is not the

The Delhi High Court observed that the order freezing bank accounts not to remain in force for more than sixty days from date of order under sub-section (8-A) to Section 132 of the Income Tax

The Income Tax Department has provided reassurance that no taxpayer data was lost and no physical damage occurred as a result of the fire incident at the Delhi Income Tax Office. This is attributed to

An Income Tax superintendent died due to suffocation after the fire outbreak in the Delhi Income Tax Office on 14th May 2024. The 46 year old man, discovered unconscious at the scene and despite efforts,

In a recent decision the Delhi High Court observed that case transfer to another Assessing Officer (AO) not permissible without decentralization order under Section 127 of the Income Tax Act, 1961 on centralization of the

The new tax regime, which will be the default form of taxation, will have lower tax rates but do away with certain exemptions and deductions, in contrast to the old regime. In this article, you

The Delhi High Court dismissed the writ petition as there was the recording of satisfaction by the Assessing Officer (AO) before initiating Section 153C of the Income Tax Act, 1961 proceedings. The present writ petition,

The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) observed that ratification application under section 154 of the Income Tax Act,1961 cannot be termed as time-barred if the taxpayer responded to notice

The budget 2024 introduces various tax incentives, deductions and benefits for electric car buyers, considering the huge demand for tax deductions on electric vehicles and the push for a greener future. This article provides an

The Income Tax Act, 1961 provides certain tax benefits to a trust that is set up for religious or charitable purposes. To guarantee compliance and maximise benefits, trustees must be knowledgeable of the subtleties of

In a recent case, the Karnataka High Court quashed an FIR registered under Prevention of Corruption Act, 2002 without verifying the Income Tax Return ( ITR ). Petitioner Channakeshava.H.D is an Assistant Engineer in Karnataka

The Madras High Court has set aside an assessment order and consequential penalty proceedings initiated under the Income Tax Act, 1961 by the Income Tax Department against a deceased individual citing the timely intimation of