From Planning to Presentation: How is the Union Budget Prepared?
Have you ever wondered what happens to the taxes you pay? Why do we still have poverty in India? Why am I paying taxes when the roads and...
![Receipts that constitute business receipts cannot be held as unaccounted money of the assessee: ITAT directs re-computation [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Receipts-Receipts-that-constitute-business-receipts-business-receipts-unaccounted-money-of-the-assessee-unaccounted-money-ITAT-directs-re-computation-ITAT-taxscan.jpg "Receipts that constitute business receipts cannot be held as unaccounted money of the assessee: ITAT directs re-computation [Read Order]")
Income Tax Exemption on Money received under Life Insurance Policy: CBDT issues new Guidelines u/s 10(10D) [Read Circular]
On August 16, 2023, the Central Board of Direct Taxes (CBDT) released new instructions within Circular No. 15 of 2023 pertaining to clause (10D) of Section 10 within the Income Tax Act of 1961. This...
![Income Tax Exemption on Money received under Life Insurance Policy: CBDT issues new Guidelines u/s 10(10D) [Read Circular]](https://www.taxscan.in/wp-content/uploads/2023/08/Income-Tax-Income-Tax-Exemption-Money-Income-Tax-Exemption-on-Money-received-under-Life-Insurance-Policy-CBDT-taxscan.jpg "Income Tax Exemption on Money received under Life Insurance Policy: CBDT issues new Guidelines u/s 10(10D) [Read Circular]")
Real Estate Firm utilised Allottee's Money for 18 Months: REAT directs to Pay 12 % Interest [Read Order]
In a significant judgment, the Kerala Real Estate Appellate Tribunal (REAT) has directed respondent Shobha Ltd to pay 12% interest for receiving and utilising the allottee's money for 18 months...
![Benefit from Arranged Accommodation Entries is Unaccounted Money: Calcutta HC Dismisses Writ [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Benefit-Arranged-Accommodation-Entries-Unaccounted-Money-Calcutta-HC-Dismisses-Writ-high-court-taxscan.jpg "Benefit from Arranged Accommodation Entries is Unaccounted Money: Calcutta HC Dismisses Writ [Read Order]")
Mere filing of Affidavit is not sufficient to prove the Capacity and Source of Persons who gave Money to Assessee: ITAT grants Rs.10 lakh Relief [Read Order]
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) while granting Rupees 10 lakh relief to assessee held that merely filing of the affidavit is not sufficient to prove...
![Mere filing of Affidavit is not sufficient to prove the Capacity and Source of Persons who gave Money to Assessee: ITAT grants Rs.10 lakh Relief [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/04/Mere-filing-of-Affidavit-sufficient-Capacity-and-Source-Capacity-Assessee-Money-to-Assessee-Money-ITAT-Relief-Income-Tax-taxscan.jpg "Mere filing of Affidavit is not sufficient to prove the Capacity and Source of Persons who gave Money to Assessee: ITAT grants Rs.10 lakh Relief [Read Order]")
Circuitous Rotation of Unaccounted Money is not a Genuine Loan Transaction: ITAT upholds Addition u/s 68 [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT), has held thatcircuitous rotation of unaccounted money is not a genuine loan transaction and upholds addition u/s 68. The appellant, M/s...
![Circuitous Rotation of Unaccounted Money is not a Genuine Loan Transaction: ITAT upholds Addition u/s 68 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Unaccounted-Money-Loan-Transaction-ITAT-taxscan.jpg "Circuitous Rotation of Unaccounted Money is not a Genuine Loan Transaction: ITAT upholds Addition u/s 68 [Read Order]")
Filing of Supplementary Charge Sheet insufficient to Deny Bail in Money Laundering Matters: Gauhati HC [Read Order]
A Single Bench of Gauhati High Court has recently held that, filing of supplementary charge sheet by the State is not a sufficient ground to deny bail to the accused in money laundering cases. The...
![Retention Money to be offered to Tax in the Year of Receipt: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/10/Retention-Money-Tax-ITAT-taxscan.jpeg "Retention Money to be offered to Tax in the Year of Receipt: ITAT [Read Order]")