Understanding how mutual fund taxes work is crucial for investors. When you sell equity-oriented mutual fund units held for less than one year, the capital gains are deemed short-term and are taxed at your regular

The two member bench of Bangalore Income Tax Appellate Tribunal ( ITAT ) directed re adjudication regarding the cash deposited during the demonetisation period under the business of purchases and sale of biscuits and confectioneries.

The Two member bench of Delhi Income Tax Appellate Tribunal (ITAT) upheld the addition made on account of non submission of PAN and confirmation of parties regarding the advances received for Dish Installation. The Assessee

The Two member bench of Bangalore  Income Tax Appellate Tribunal ( ITAT ) directs readjudication regarding the commission and brokerage sale credited to Profit and Loss Account of distributorship to Reliance Jio and Sun Directs.

The Delhi High Court clarified that powers under Section 127 of the Income Tax Act, 1961, can be invoked for public interest, administrative convenience, and meaningful assessment. The present writ petitions, at the instance of

The Mumbai bench of the Income Tax Appellate Tribunal ( ITAT ) has granted relief to Shell Information Technology, specifying that interest on income tax refund would be categorized as taxable interest income under Article

The Kerala High Court has ordered an immediate halt to coercive recovery measures by the income tax authorities against the Pallickal Naduvilemuri Service Co-operative Bank Ltd. The ruling comes as a relief to the petitioner

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