Important Updates Of Case Laws, Articles And Association News
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Association News
New Income-tax Bill 2025
income-tax-bill-2025 new-bill-2025-navigator Executive-Summary-on-the--tax-Act-1961-PressRelease-13-2-25 faq_income-tax-bill-general FAQs-income-tax-bill [Read more]
Case Laws
CIT v. Abdull Aziz Abdul Kadar (Bombay High Court)
Bombay High Court: S. 50C : Capital gains-Full value of consideration-Stamp valuation- Transfer of tenancy right-Provision of Section 50 C is not applicable- Revenue has accepted the decision of Shri Atul G. Puranik v. ITO (2011) 132 ITD 499 (Mum)( Trib)- Appeal of Revenue is dismissed. [S. 45, 49] On appeal by the Revenue dismissing the appeal the… Read More ...
Supreme Court: a. Whether an offence under Section 276CC of the Income Tax Act, 1961 could be said to have been committed on the actual date of filing of return of income or on the day immediately after the due date for filing of returns as per Section 139(1) of the Act? b. What is the meaning… Read More ...
SUPREME COURT OF INDIA CIVIL APPEAL NO. 6778 OF 2013: JACOB PUNNEN & ANR. Vs. UNITED INDIA INSURANCE CO. LTD. SUPREME COURT OF INDIA CIVIL APPEAL NO. 6778 OF 2013 THE SUPREME COURT rejected the insurer’s argument that the consumer was under an obligation to inquire about the terms of the policy, and any changes that might have been introduced, in the standard terms. The… Read More ...
Income-tax Appellate Tribunal, Nagpur Bench: The assessee is a co-operative society engaged in the activity of providing credit facility to its members. Assessee is eligible for deduction u/s. 80P of IT Act. Assessee filed its return of Income u/s. 139(1) of the Act declaring total income of Rs. NIL after claiming deduction of Rs. 72,09,175/- u/s. 80P of the Act.… Read More ...
ITAT Pune: Filing of Form No.67 within the due date for filing of the return of income is not mandatory, but it is mere a directory under the provisions of the Income Tax Rules, 1962. On date of processing the return of income, a Form No.67 was uploaded, which the CPC, Bangalore had failed to take into… Read More ...
Articles
FOREIGN REMITTANCES & TCS PROVISIONS UNDER UNION BUDGET 2025
By FCS DEEPAK P. SINGH [Bsc.FCS, LLB, FIII, CiAFP]: Dear Friends, Hon’ble Finance Minister has presented excellent and people-oriented Budget-2025 on 1st February 2025. There are many expectations of the people from this Budget and PM as well as FM has assured earlier that they are going to gift various benefits to the people and the industry in this Budget-2025. The FM has herd… Read More ...
BUDGET 2025 ANALYSIS – DIRECT TAXES
By FCS DEEPAK P. SINGH [Bsc.FCS, LLB, FIII, CiAFP]: Dear Friends, Hon’ble Finance Minister, Mrs. Sitaraman has presented 8th Budget in a row and has become second Finance Minister after Shree Moraraji Desai , who had presented 10th Union Budgets on different time frames. Mr Desai had presented a total of 6 budgets during his tenure as finance minister from 1959 to 1964, and… Read More ...
Regards,
Editorial Board