Following Budget 2024, the long-term capital gains on domestic and foreign equity funds/ETFs/FOFs were to be taxed at 12.5%.

However, the court noted that a government press release clarified that the new definition applied solely for income tax ...

The Income Tax Appellate Tribunal (ITAT) Mumbai found the reassessment invalid, emphasizing that Section 147 requires a ...

CESTAT Chennai Sets Aside Re-Determined Customs Valuation in Anisha Trends Case: The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Chennai, ruled on an appeal filed by Anisha Trends ...

The ITAT found that the addition made by the assessing officer was unjustified, as Bhargava had provided substantial documentation, including sale deeds and bank statements, to substantiate the source ...

The petitioner further informed the court that subsequent notifications from both the Central and State revenue authorities had modified the deposit requirement for the stay, reducing it to 10% of the ...

Karnataka High Court dismissed an appeal filed by the Revenue against the Tribunal’s order, which deleted an addition of ₹33.71 crores under Section 56 (2) (viib) of the Income Tax Act, 1961. The case ...

The Kerala High Court addressed a revision petition concerning the Joint Commissioner’s jurisdiction to initiate proceedings against an assessment order. The petitioner, a manufacturer of unbranded ...

2.1 That on the facts and circumstances of the case, the CIT (A) was not justified in confirming the disallowance of 5,09,989/- being the claim of depreciation on building u/s. 32 of the Act without ...

In addition to previously approved disciplines, the new eligibility criteria now include degrees in Bachelor of Medicine and Bachelor of Surgery (MBBS), Bachelor of Dental Surgery (BDS), and various ...

ITAT Jaipur ruled on the applicability of Section 44AD of the Income Tax Act in assessing the taxable income of Santosh Kumar, a retail trader in Kota stones. The case arose after the assessee failed ...

The Kerala High Court addressed an income tax appeal concerning the nature of an order passed by the Commissioner of Income Tax under Section 263 of the Income Tax Act. The assessee, Malabar Institute ...