The Delhi Bench Income Tax Appellate Tribunal ( ITAT ), while granting relief to the Oravel Stays Private Limited, the company which runs OYO Rooms, has ruled that the company…
Top Stories Trust cannot be Barred from getting the benefit of Income Tax Deduction because of not Opting for it Previously: ITAT [Read Order] The ITAT held that trust cannot be barred…
Top Stories Lok Sabha Passes Finance Bill, 2024 on 7th February The Finance Minister proposed no change to the existing tax rates, both indirect tax and direct By Navasree A.M…
Top Stories Income Tax Deduction on Excise Duty does not Amount to Double Deduction: Bombay HC [Read Order] The Bombay HC observed that the income tax deduction on excise duty…
In a recent session of Rajya Sabha, the Minister of State in the Ministry of Finance, Shri Pankaj Chaudhary, addressed queries on the income profiles of taxpayers in the country.…
The Kerala High Court dismissed the writ petition challenging the order of assessment and demand of Building Tax pending before the Deputy Tahsildar. A rectification application, labeled true copy of…
The Goods and Services Tax ( GST ) Department has issued notices to several companies regarding discrepancies in Input Tax Credit ( ITC ) claims, leading to a thorough examination…
Top Stories Property Seized by ED Must be Returned if PMLA Investigation Exceeds 365 Days: Delhi HC [Read Order] The Delhi HC observed that the property seized by the ED…
The Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) has set aside the reassessment proceedings initiated under Section 147 of the Income Tax Act, 1961 when they…
The Bombay High Court has invalidated the reassessment notice issued against Godrej Projects Development Pvt Ltd. The court observed that the Assessing Officer’s ( AO ) reason for reassessment, questioning…