Category: Income Tax
Incriminating material has to be identified with respect to each Assessment Year before proceeding u/s 153C – Department’s SLP dismissed In a recent judgment, Hon’ble Supreme Court has dismissed the SLP against the judgment of the Delhi High Court in holding that “incriminating material” would have to be …
Tax incentives to IFSCS – Income-tax (Second Amendment) Rules, 2025 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 10/2025 New Delhi, the 27th January, 2025 INCOME-TAX G.S.R. 76(E).—In exercise of the powers conferred by section 295 read with sub-item (b) of item (I) of sub- …
Guidance for application of the Principal Purpose Test (PPT) under India’s Double Taxation Avoidance Agreements CBDT has issued Circular No. 1/2025 dated 21.01.2025 as Guidance for application of the Principal Purpose Test (PPT) under India’s Double Taxation Avoidance Agreements The Multilateral Convention to Implement Tax Treaty Related Provisions …
CBDT notifies Rule 6GB to prescribe conditions for applicability of presumptive taxation regime u/s 44BBC for non-resident cruise ship operators As a measure to promote investment and employment, Finance (No. 2) Act, 2024 inter alia provided a presumptive taxation regime for non-residents, engaged in the business of operation …
Revisionary order u/s 263 quashed as PCIT made no discussion why he did not agree with the submissions of the assessee In a recent judgment, the ITAT Lucknow has set aside revisionary order u/s 263 as PCIT made no discussion in the impugned order on the submissions made …
There was no delay in filing appeal before CIT(A) as CPC intimation u/s 143(1) received on email after 30 days – ITAT In a recent judgment, ITAT Cochin has held that there was no delay in filing of appeal by assessee as CPC email of intimation u/s 143(1) …
CBDT issues clarification on applicability of DTVSVS-2024 in cases time for filing appeal was available MINISTRY OF FINANCE(Department Of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Order No. 8/2025 New Delhi, the 20th January, 2025 S.O. 348(E).—WHEREAS, the Direct Tax Vivad Se Vishwas Scheme, 2024 was introduced vide the Finance …
Commissioner cannot exercise jurisdiction under section 263 of the Act, when assessment has been made after obtaining approval of the Range Head In a recent judgment, ITAT Lucknow quashed revisionary order u/s 263 confirming that Commissioner cannot exercise jurisdiction under section 263 when assessment has been made after …
Order passed under Section 148A(d) quashed as it incorrectly mentioned that no reply was filed by the assessee. In a recent judgment, Rajasthan High Court quashed order passed under Section 148A(d) as it incorrectly mentioned that no reply was filed by the assessee whereas reply was duly uploaded …
No Revision u/s 263 when AO after careful examination and detail enquiry took a plausible view that the provisions of section 115BBE of the Act are not applicable. In a recent judgment, ITAT Amritsar held that where the Assessing Officer (AO) after careful examination of the submissions made …
