Reassessment proceedings initiated under section 148 for Assessment Year 2013-14 was not valid as the initiation of reassessment proceedings was barred by limitation and assessee’s income chargeable ...

In a significant ruling for charitable and religious institutions, the Income Tax Appellate Tribunal (ITAT) Visakhapatnam bench has dismissed appeals filed by the Income Tax Department, affirming that ...

Tax regulations are a critical but often neglected component of digital asset management. Most governments now require clear ...

This clear pronouncement from the Delhi High Court, classifying donations received towards the corpus of the trust as ‘capital receipts’ rather than ‘revenue receipts chargeable to tax’, became the ...

A practicing Chartered Accountant shall not accept, in a financial year, more than “60” tax audit assignments under Section ...

Conclusion: Whenever, the GST has been paid by using Form GST PMT-06, the tax liability will be discharged to that extent.

The case arose after the Assessing Officer (AO) denied the trust’s claim for exemption under Section 11 for the aforementioned assessment years. The primary reason for the denial was the absence of ...

The Supreme Court of India has declined to interfere with a Bombay High Court decision in the case of Nusli N. Wadia against the Assistant Commissioner of Income Tax (ACIT), related to a notice issued ...

Physical stay is a key requirement for foreign nationals (excluding OCIs) seeking to acquire immovable property in India. The individual must have been physically present in India for more than 182 ...

Chhattisgarh High Court on Summary Assessment of Debatable Tax Issues; Tax Disallowance on Debatable PF/ESI Deposits Set ...

Ltd., has ruled that cash deposits made during the demonetization period, which are duly recorded in the assessee’s books of account, cannot be treated as unexplained money under Section 69A of the ...

Allahabad High Court has ruled that circulars issued by the Goods and Services Tax (GST) Council are binding on the tax department. The court quashed demand orders issued against Krishna ...