The Central Board of Direct Taxes has initiated the widespread issuance of scrutiny notices under Section 143(2) of the Income Tax Act for the Assessment Year 2024–25. As tax professionals, it is…
Every year, as tax filing season approaches, many firms and professionals face an important compliance step, which is a tax audit under Section 44AB of the Income Tax Act, 1961. Section…
The Madras High Court has remanded a case back to the Income Tax Department for fresh consideration after noting that an ex parte assessment order was passed without proper service of notice…
The Chandigarh Bench of the Income Tax Appellate Tribunal ( ITAT ) has set aside an ex-parte appellate order passed by the CIT(A)/NFAC after noting that the assessee’s counsel was suffering…
The Income Tax Department has introduced a new campaign titled "TAX ASSIST" positioned as the go-to support system for all tax-related concerns. The campaign was officially rolled out with a…
The Kolkata bench of the Debts Recovery Appellate Tribunal (DRAT) allowed the Bank of India (BOI), holding that a certificate of family members obtained from the office of the Tahsildar…
The ITAT Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) has held that income tax exemption under Section 11 of the Income Tax Act, 1961, cannot be denied merely due…
The Central Board of Direct Taxes (CBDT) has issued a clarification dated July 1, 2025, regarding the applicability and operational scope of Circular No. 5/2025, which was issued earlier on March 28,…
The Ministry of Finance has notified the Cost Inflation Index (CII) for the financial year 2025-26 as 376, through Notification No. 70/2025 dated July 1, 2025. The amendment was issued by the…
US President Donald Trump’s current trade and economic strategy is shaping key global conversations, with a particular impact on India. As negotiators from both countries inch closer towards finalising a…