Festivals are the face and essential part of our culture. Diwali is an occasion where a great deal of gifting happens. Some companies even give bonuses to their employees. While enjoying these gifts, its time

The Income Tax Department has started issuance of Income Tax Notices seeking evidence in support of deductions claimed in Assessment Years 2021-22, 2022-23 and 2023-2024. Provisions for issuance of Notices under Income Tax Act, 1961:

One crore rupees was seized by the Income Tax Department from the residences of the brother of a political leader in Karnataka. Raids on suspects are frequently conducted by the income tax department. However, what

The Income Tax Appellate Tribunal (ITAT), Mumbai held that Non- Residents are not required to disclose their assets situated outside India to the Income Tax Authorities. The Assessee Manish Vijay Mehta is a non-resident. The

The Central Bureau of Investigation ( CBI ) has arrested two Inspectors working at the Investigation Unit of Income Tax Department, Ballard Pier, Mumbai for accepting a bribe of Rs.15 Lakh from the complainant. CBI

The Income Tax Department conducted search and seizure operations at 5 locations in the Kashmir Valley today. The searches were carried out against a Group which is a monopolistic wholesale distributor of pharmaceuticals in the

This weekly round-up analytically summarizes the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan.in during the previous week from June 18 to June 24, 2022 Shree Radheshyam Sharnam vs Commissioner

Taxpayers have a timeframe of 24 months from the end of the relevant assessment year to file ITR-U. For instance, for the Financial Year 2020-21 ( Assessment Year 2021-22 ), the deadline to submit ITR-U

The Central Board of Direct Taxes (CBDT) on Monday notified that the prescribed income-tax authority shall not be below the rank of Income-tax Officer for Issuance of Notice for Inquiry before Assessment of Tax. The

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) recently observed that the reasons, as recorded forreopening the reassessment, are to be examined on a standalone basis to determine the validity of proceedingsunder Section

The Finance Minister Nirmala Sitharaman while presenting the Direct taxes under  Budget 2023 proposed the maximum time period for the production of documents of international transaction by the assessee under section 92D of the Income

The Madhya Pradesh High Court, Gwalior Bench has recently allowed the income tax department to take custody of recovered stolen cash to the tune of Rs. 45 Lakhs from the police as the same was

A Single Bench of Allahabad High Court has recently held that criminal proceedings arising out of orders of penalty will be quashed as soon as the penalty demand is quashed. The present application was filed

Faculty - CA Pratibha Goyal 📆 10 - 12 April⏰ 6.00PM - 8.00PM Course Fees1599(Including GST)999(Including GST) Click Here To Pay Pay Now Key Features✅Hindi Medium✅Duration 6 Hours✅E Notes available✅The Recordings will be provided What

The Income Tax Appellate Tribunal (ITAT), Jaipur Bench, has recently, in an appeal filed before it, held that income tax registration u/s 12AB cannot be denied to trust, after supplying all desired information as per