How the Government Grants Income Tax Exemptions to Certain Institutions: Key Criteria and Guidelines
Income tax exemptions are an important mechanism provided by the government to support institutions that play a role in the public welfare and...
![Capital Subsidy should be reduced for Computation of Book Profit u/s 115JB of Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-Income-Tax-ITAT-Nagpur-Income-Tax-Act-Capital-Subsidy-cases-under-ITAT-TAXSCAN.jpg "Capital Subsidy should be reduced for Computation of Book Profit u/s 115JB of Income Tax Act: ITAT [Read Order]")
![₹46 Lakh Ex-Parte Income Tax Addition after Assessment u/s 144 & 147 w/o Opportunity to adduce Evidence: ITAT Remits matter [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-ITAT-ITAT-Delhi-Income-Tax-Addition-Income-Tax-Assessment-ex-parte-TAXSCAN.jpg "₹46 Lakh Ex-Parte Income Tax Addition after Assessment u/s 144 & 147 w/o Opportunity to adduce Evidence: ITAT Remits matter [Read Order]")
![CBDT Exempts Petroleum and Natural Gas Regulatory Board from Income Tax under Section 10(46A) [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-CBDT-Central-Board-of-Direct-Taxes-Petroleum-and-Natural-Gas-Regulatory-Board-TAXSCAN.jpg "CBDT Exempts Petroleum and Natural Gas Regulatory Board from Income Tax under Section 10(46A) [Read Notification]")
Entry Made In Dispatch Register Does Not prove Service of Notice under Income Tax Act: Orissa HC [Read Order]
The Orissa High Court in a recent case, has made it clear that an entry in the dispatch register maintained by the Revenue is not primary evidence to prove the service of notice on an assessee under...
![Entry Made In Dispatch Register Does Not prove Service of Notice under Income Tax Act: Orissa HC [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/Income-Tax-Income-Tax-Act-Income-Tax-Notice-Income-Tax-Act-1961-TAXSCAN.jpg "Entry Made In Dispatch Register Does Not prove Service of Notice under Income Tax Act: Orissa HC [Read Order]")
Central Government Sets Arm's Length Price Thresholds for Wholesale and Other Transactions under Income Tax Act [Read Notification]
The Central Government, vide notification no. S.O. 4571(E) dated 18th October 2024 has issued a notification under the Income-tax Act, 1961, setting specific thresholds for determining arm’s length...
![Central Government Sets Arms Length Price Thresholds for Wholesale and Other Transactions under Income Tax Act [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-Income-Tax-Act-Central-Government-Income-tax-Act-1961-Arms-Length-Price-Thresholds-TAXSCAN.jpg "Central Government Sets Arms Length Price Thresholds for Wholesale and Other Transactions under Income Tax Act [Read Notification]")
ITAT Deletes ₹55,14,076 Penalty for Concealment of Income, Citing Inconsistencies in Income Assessment Estimates [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) deleted the penalty of ₹55,14,076 imposed under Section 271(1)(c) of the Income Tax Act,1961, for concealment of income, citing...
![ITAT Deletes ₹55,14,076 Penalty for Concealment of Income, Citing Inconsistencies in Income Assessment Estimates [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-Income-Tax-Appellate-Tribunal-Income-concealment-penalty-under-ITAT-TAXSCAN.jpg "ITAT Deletes ₹55,14,076 Penalty for Concealment of Income, Citing Inconsistencies in Income Assessment Estimates [Read Order]")
“Off the Books” Share Purchase Allegations: ICAI Disciplinary Committee finds CA not Guilty of Misconduct
The Institute of Chartered Accountants ( ICAI ) recently acquitted a Chartered Accountant ( CA ) of misconduct in a matter regarding “Off the Books” purchase of shares by a company facing allegations...
CBDT notifies Amendments to Income Tax Form 10A and 10B for Registration Purposes of Charitable Trusts and Institutions [Read Notification]
The Central Board of Direct Taxes ( CBDT ), vide Notification no. G.S.R.638(E) dated 15h October 2024, made amendments to Income Tax Forms 10A and 10B, which are essential for the registration of...
![CBDT notifies Amendments to Income Tax Form 10A and 10B for Registration Purposes of Charitable Trusts and Institutions [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/10/Income-Tax-CBDT-Income-Tax-Form-10B-Income-Tax-registration-TAXSCAN.jpg "CBDT notifies Amendments to Income Tax Form 10A and 10B for Registration Purposes of Charitable Trusts and Institutions [Read Notification]")
![Company-Leased Car provided to Employees not ‘Perquisite’, liable to GST: AAAR [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/AAAR-Tamil-Nadu-GST-GST-on-Leased-Car-TAXSCAN.jpg "Company-Leased Car provided to Employees not ‘Perquisite’, liable to GST: AAAR [Read Order]")