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The Kerala High Court ruled in favour of the Amrita Institute of Medical Science and Research, directing the income tax department to resolve the appeal within three months. The case was associated with a non-disposal of appeal on the applicability of the Tax Deducted at Source (TDS) deduction to doctors engaged by the hospital. The applicant, […]
Form ITR-B for FY 2025-26 (AY 2026-27) has been reported by the Ministry of Finance via a gazetted CBDT notification 30/2025 dated April 7, 2025. What is the New ITR-B Form? The new ITR-B form is used to disclose previously undisclosed income identified by the Income Tax Department during a search, investigation, or requisition operation […]
As a result of the Finance Bill 2025, Section 143(1) of the Income-tax Act, 1961 has undergone significant changes. A new provision has been introduced that allows for the cross-verification of inconsistencies in income tax returns (ITR), improving the process of ITR processing. The income tax department, via the identification of discrepancies between the assessment […]
It was mentioned by the Kerala High Court that the illegal cash seizure via the GST department and handing over to the income tax department is not regulatory u/s 132A of the Income Tax Act. The Division Bench of Justices A.K. Jyasankaran Nambiar and Easwaran S. ruled that “Cash amount seized from the premises of […]
The Central Board of Direct Taxes (CBDT) has released Circular No. 3/2025, citing the income tax deduction from salaries u/s 192 of the Income Tax Act, 1961, for the financial year 2024-25. The same circular specifies the changes introduced via the Finance (No. 2) Act, 2024, Finance (No. 1) Act, 2024, and Finance Act, 2023 […]
It was ruled by the Delhi High Court that Fee for Technical Services (FTS) as included u/s 9(1)(vii) of the Income Tax Act, 1961 is related to the transfer of ‘distinctive’, ‘specialized’ knowledge, skill, expertise and know-how by a service provider. Therefore a division bench of Justices Yashwant Varma and Harish Vaidyanathan Shankar noted that […]
The Gujarat High Court in a ruling held that a future amendment disallowing depreciation on goodwill, which will come into force on April 1, 2021, could not be used as a basis to reopen the assessment for the fiscal year 2017-18. The taxpayer GTPL Hathway Limited, has furnished its income tax return for the AY […]
The Karnataka High Court rejected to quash the prosecution started via the income tax department against the taxpayer who has intently failed to file his income tax return (ITR) within the said time for the Assessment years 2012- 13 to 2015-16 and thereby committed the alleged offence. A single judge, Justice S Vishwajith Shetty dismissed […]
A tax demand order against M/S Jain Medicals has been set aside by the Allahabad High Court quoting the refusal of a chance for an oral hearing as obligated Under Section 75(4) of the U.P. GST Act, 2017. On 05.12.2023, M/s Jain Medicals filed a writ petition contesting an order issued via the income tax […]
