Direct Tax
Direct Tax Weekly Flashback: 2 March to 8 March 2025
Direct Tax Weekly Flashback for the period 2 March to 8 March 2025.Delhi High CourtTwo-Tier Satisfaction Of AO Must For Reassessment: Delhi High Court Delhi...
Section 87A Rebate Confusion: Taxpayers With Capital Gains Might Get Notice
A major controversy has erupted over the applicability of the Section 87A rebate in India’s income tax law, particularly concerning taxpayers with capital gains...
Rejection of Application For Compounding Of Offence Under Income Tax Act Solely Based On Limitation Period: Bombay High Court Directs Reconsideration
The Bombay High Court has directed the Chief Commissioner to reconsider the application for compounding of offence under Income Tax Act as the rejection...
Bombay High Court Quashes Income Tax Reassessment Against Tata Communications
The Bombay High Court has quashed the income tax reassessment against Tata Communications in the absence of any fresh tangible material, the proceedings were...
Income-Tax Dept. Issues Notices Over Mismatch in High-Value Expenses and Bank Withdrawals
The Income-Tax (I-T) department has recently intensified scrutiny on high-income individuals whose bank withdrawals appear disproportionately low compared to their overall spending. Reports suggest that...
Many Taxpayers Receive Emails on Outstanding Income Tax Dues: Here’s What You Can Do
Several taxpayers across India have reported receiving official emails from the Income Tax Department notifying them about their pending tax dues. The emails, sent...
Income Tax Dept. Can’t Indefinitely Attach Properties Without Steps To Resolve Matter: Delhi High Court
The Delhi High Court while ruling in favour of Fasttrack has held that it is impermissible for the department to keep the properties attached...
Bombay High Court Imposes Cost Of Rs. 10K For Assessee’s Failure To Inform AO About Pendency Of Objections Before DRP
The Bombay High Court has imposed the cost of Rs. 10K on Assessee, who failed to inform the Assessing Officer (AO) about pendency of...