1. No Legal Impediment for Paying Rent to Spouse: There is no legal bar under the Income Tax Act in paying rent to the spouse ...

On September 19, 2024, the Government of India issued Notification No. 62/2024-Customs (N.T.) under the Customs Tariff Act, 1975, aimed at clarifying the definition of “laboratory chemicals.” The ...

ITAT Mumbai held that when the reserve/provisions created in the year where the assessee has increased the book profit u/s. 115JB of the Act, the assessee is entitled to reduce the amount withdrawn ...

In exercise of the powers conferred by clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (43 of 1961) read with Rules 5C and 5E of the Income-tax Rules, 1962, the Central ...

Ground no. 2 : “That, the order u/s 143 (3) r.w.s. 147 of the I.T. Act, 1961 is bad-in-law as the notice u/s 143 (2) is issued beyond the statutory time limit.” 2. This ground goes to the root of the ...

Conclusion: Since assessment order which was passed hastily without considering the taxpayer’s submission amidst the approaching deadline, the case was remitted back to the respondents to pass orders ...

ITAT Ahmedabad held that addition towards unsecured loan where loan was repaid is unsustainable, whereas, addition where assessee failed to demonstrate repayment or interest payment to creditor ...

Conclusion: Tax Concession on the buses owned by assessee to transport students and staff could not be denied just because ...

Madras High Court held that order passed against the dead person, who passed away before issuance of show cause notice, is ...

Karnataka High Court held that the practice of issuing a single, consolidated show cause notice under section 73 of the CGST Act for multiple assessment years contravenes the provisions of the CGST ...

ITAT Ahmedabad held that the revisionary jurisdiction under section 263 cannot be exercised to widen the scope of the original assessment beyond the specific reasons recorded for reopening the ...

ITAT Ahmedabad held that additional evidence reconciling the discrepancy in receipts as per Form No. 26AS and books of accounts were not submitted before AO or CIT (A). Accordingly, matter send back ...