CBDT launches Special e-Campaign to rectify ITR-AIS Income-Transaction Mismatch for FY 2021-22 and FY 2023-24
The Central Board of Direct Taxes has launched a special e-Campaign to rectify Income-Transaction mismatches in the Annual Information Statement (...
![ITAT Dismisses Revenues Appeal as Tax Effect Falls Below Rs. 60 Lakhs, in Accordance with CBDT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Delhi-Income-Tax-Appellate-Tribunal-ITAT-Dismisses-Revenues-Appeal-Revenues-Appeal-taxscan.jpg "ITAT Dismisses Revenues Appeal as Tax Effect Falls Below Rs. 60 Lakhs, in Accordance with CBDT [Read Order]")
CIT(E) Rejects State Trust Application u/s 12AB for Missing Deadline: ITAT Overturns Decision citing CBDT Deadline Extension Circular. [Read Order]
The Surat bench of the Income Tax Appellate Tribunal ( ITAT ) held in a recent case that substantial justice should be prioritised over procedural technicalities. The appellant-assessee Medical...
![CIT(E) Rejects State Trust Application u/s 12AB for Missing Deadline: ITAT Overturns Decision citing CBDT Deadline Extension Circular. [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/CBDT-Deadline-Extension-Circular-Section-12AB-income-tax-act-ITAT-taxscan.jpg "CIT(E) Rejects State Trust Application u/s 12AB for Missing Deadline: ITAT Overturns Decision citing CBDT Deadline Extension Circular. [Read Order]")
Purchases Claimed by Assessee not Proven to be Non-Business Related: Delhi HC Upholds ITAT's Findings [Read Order]
In a recent ruling, the Delhi High Court upheld the findings of the Income Tax Appellate Tribunal ( ITAT ) and held that the purchases claimed by the assessee were solely and exclusively for business...
![Purchases Claimed by Assessee not Proven to be Non-Business Related: Delhi HC Upholds ITATs Findings [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/Delhi-high-court-Delhi-HC-Upholds-ITAT-Findings-Delhi-High-Court-case-on-business-related-purchases-taxscan.jpg "Purchases Claimed by Assessee not Proven to be Non-Business Related: Delhi HC Upholds ITATs Findings [Read Order]")
Amendments to Income Tax Rules: New Safe Harbor Provisions for Raw Diamond Businesses [Read Notification]
The Central Board of Direct Taxes ( CBDT ), under the Ministry of Finance, issued Notification No. 124/2024 on November 29, 2024, amending the Income Tax Rules, 1962. These amendments, titled the...
![Amendments to Income Tax Rules: New Safe Harbor Provisions for Raw Diamond Businesses [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/12/CBDT-notification-for-diamond-traders-Raw-diamond-trading-tax-Income-Tax-updates-taxscan.jpg "Amendments to Income Tax Rules: New Safe Harbor Provisions for Raw Diamond Businesses [Read Notification]")
[Breaking] CBDT Extends ITR Due Date for Transfer Pricing Report Filers under Section 92E: Check New Date Here [Read Circular]
The Central Board of Direct Taxes (CBDT) has extended the due date for furnishing the return of income under Section 139(1) of the Income Tax Act, 1961, for Assessment Year (AY) 2024-25 from November...
![[Breaking] CBDT Extends ITR Due Date for Transfer Pricing Report Filers under Section 92E: Check New Date Here [Read Circular]](https://www.taxscan.in/wp-content/uploads/2024/11/CBDT-ITR-Transfer-Pricing-Report-Section-92E-taxscan.jpg "[Breaking] CBDT Extends ITR Due Date for Transfer Pricing Report Filers under Section 92E: Check New Date Here [Read Circular]")