Section 115BBE, which applies to unexplained income, was therefore not applicable. Accordingly, the ITAT allowed the appeal and ruled that the higher tax rate under Section 115BBE could not be imposed ...

Due to non-compliance with the hearing notice issued on 21.01.2016, the assessment was completed ex parte under section 144 of the Act. The AO made an addition of Rs. 49,86,306/- on account of ...

Due to simplification of Income Tax Act, it has been produce as Income Tax Bill 2025. In the Bill, instead of section they change as clause, simplification of language and other changes are made. The ...

Section 24 (i) specifically mandates compulsory registration by a person making inter- state taxable supply. The term or phrase ‘’inter- state taxable supply’’ makes it ample clear that if the ...

Tax Deduction at Source on Payments to Partners. I. Executive Summary. Section 194T of the Income Tax Act, 1961, effective fr ...

The impact of climate change risks is not limited to the financial system alone but extends to the real economy. Be it the corporates or the MSMEs or the agricultural sector, climate change risks are ...

Delhi High Court held that repeated placing and removing from call books is not a valid justification for non-adjudication of show cause notice for about 15 years. Accordingly, notice is liable to be ...

Mohit Enterprises Vs Commissioner of State GST And Vat Department of Trade And Taxes Delhi (Delhi High Court) Delhi High Court, in Mohit Enterprises vs.

Year 2015-16 and 2016-17 with the issues involved relating to levy of penalty under section 272A(2)(g) and section 271C of the Income Tax Act, 1961 (“the Act” for short). All the appeals arise from ...

Bombay High Court has quashed a notice of reassessment issued to Hindustan Lever Ltd. under Section 148 of the Income-tax Act, 1961, for the assessment year 1997-98. The court determined that the ...

The court concluded that the reassessment in this case was a clear instance of a change of opinion, amounting to a review of the original scrutiny assessment, which is not permissible under the law.

Karnataka High Court has ruled against the practice of clubbing multiple financial years in a single Goods and Services Tax (GST) notice and order, in the case of Gopi Chand Vs Deputy Commissioner of ...