Direct Tax
Section 271AAA Relief: No 10% Penalty If Undisclosed Income Is Admitted, Substantiated, and Tax Paid Even with Delay: Supreme Court
The Supreme Court has held that the penalty at the rate of 10% under Section 271AAA of the Income Tax Act, 1961 is normally...
Future Amendment Denying Depreciation On Goodwill Can’t Be The Basis For Reopening Assessment: Gujarat High Court
The Gujarat High Court has held that future amendment denying depreciation on goodwill cannot be the basis for reopening assessment.The bench of Justice Bhargav...
Section 148 Can’t Be Invoked For Change In Tax Rate For Future AYs: Bombay High Court
The Bombay High Court has held that merely because there is some change in the tax rate for the future assessment years, the provisions...
Bombay High Court Quashes Re-Assessment Proceedings Against ICICI Bank
The Bombay High Court has quashed the reassessment proceedings against ICICI Bank.The bench of Justice M. S. Sonak and Justice Jitendra Jain has observed...
Karnataka High Court Quashes Penalty For Non-Deduction Of TDS On Professional Advice
The Karnataka High Court has quashed the penalty for non-deduction of TDS on professional advice.The bench of Justice Krishna S Dixit and Justice G...
Tax on Gold in India: A Comprehensive Guide 2025
The article “Tax on Gold in India: A Comprehensive Guide 2025” covers all relevant topics such as different taxes on gold, tax saving tips,...
10 Points On Income Tax Bill 2025
The new Income Tax Bill 2025 is likely to be introduced in Parliament on February 13, 2025. The bill aims to simplify the existing Income...
Income Tax Act Contains 298 Sections and 14 Schedules While In New Proposed SIMPLIFIED Income Tax Bill 2025 There Are 536 Clauses And 16...
Yeah, the irony is real! The idea of "simplification" often turns into more complexity, especially with tax laws. Instead of reducing the number of...