Search results for: income tax department

To ease and modernize the tax system of India the new income tax bill 2025 is a bigger step. The bill which was announced by Finance Minister Nirmala Sitharaman, has the motive to ease tax compliance, lessen disputes, and improve clarity in taxation. It introduces a “Trust First, Scrutinize Later” approach, highlighting taxpayer confidence while […]

The Commissioner of Income Tax(Appeals)[CIT(A)] order, has been set aside by the Pune Bench of Income Tax Appellate Tribunal (ITAT) which had dismissed the appeal u/s 249(4) of Income Tax Act,1961 for non-payment of advance tax, considering the taxpayers’ senior citizen status and health issues. The taxpayer Hingora Ali Mohd Vali Mohd, plea was dismissed […]

Central Board of Direct Taxes (CBDT) Chief Ravi Agrawal sought the industry players to provide their recommendations on the new income tax bill which will be tabled in the Parliament this week. The updated income tax bill shall substitute the 6-decade-old Income Tax Act, 1961, which has been created in 6 months and measures have […]

The Ahmedabad Bench of Income Tax Appellate Tribunal(ITAT) quashed the assessment for failure to issue the needed notice u/s 143(2) of the Income Tax Act,1961, and unjustified additions. The taxpayer Jivarajbhai Ramabhai Chaudhary submitted the plea 63 days late due to a mistake by the Chartered Accountant. The delay was elaborated on and not countered […]

The taxpayer’s plea was dismissed by the Kolkata Bench of Income Tax Appellate Tribunal (ITAT) for the penalty imposed u/s 271(1)(c) of the Income Tax Act,1961 for Assessment Year 2013-14, as withdrawn under the Vivad se Vishwas Scheme. The petitioner/taxpayer, Raj Kumar Agarwal HUF appealed against the 09.05.2024 order of the Commissioner of Income Tax(Appeals), […]

The Delhi High Court, Section 159 of the Income Tax Act can be invoked to move against the legal representative of a taxpayer, only in cases where the reassessment notice was issued to the taxpayer during his lifetime, not after. The provision makes the legal representative (if alive) of the deceased person obligated to pay […]

It was carried by the Delhi High Court that the provision u/s 153C of the Income Tax Act, 1961 for the Assessing officer of a searched person to record ‘satisfaction’ and handover documents for undisclosed income of another person cannot be replaced by just uploading such information on the insight portal of the department. It […]

According to the report, the Gujarat State GST department has escalated its concentration on business-to-consumer (B2C) sectors, objecting to solving tax compliance issues. For potential tax evasion and non-compliance, industries like coaching classes, ice cream parlours, salons and mobile phone dealers are under the probe. Tax evasions are exposed in the raids that emerged recently […]