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MEIS Rewards Taxable as Revenue Receipts from AY 2016-17 Says ITAT Mumbai
ITAT Mumbai Special Bench rules that MEIS rewards are taxable as revenue receipts under Section 2(24)(xviii) starting from assessment year 2016-17.
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Gujarat High Court Rules on Income Tax Reassessment Appeals
Explore the Gujarat High Court ruling on income tax reassessment appeals when recorded reasons yield no additions under Section 147.
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How Underpriced Audits Weaken Anti-Corruption Controls in India
Discover how low audit fees, restricted timelines, and high market concentration compromise audit quality and weaken anti-corruption controls in India.
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Uncovering the Hidden Financial Realities of the NSE IPO Prospectus
Explore the key insights from the NSE IPO draft prospectus, including its options-driven revenue model, massive treasury investments, and rising costs.
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Comprehensive Guide to Tax Audit Under Section 44AB for FY 2025-26
Learn about Section 44AB tax audit limits, forms, deadlines, and penalties for FY 2025-26 to ensure full compliance for your business.
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ITAT Chandigarh Quashes Time-Barred Section 148 Notice for AY 2015-16
ITAT Chandigarh sets aside a time-barred Section 148 notice issued on April 1, 2022, for assessment year 2015-16, invalidating related penalties.
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ITAT Delhi Invalidates 2022 Section 148 Notice for Assessment Year 2015-16
Learn how ITAT Delhi recently quashed a Section 148 notice issued in April 2022 for the 2015-16 assessment year, rendering proceedings invalid.
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Orissa High Court Upholds ITAT Decision on Section 68 Additions in Unabated Assessments
Learn how the Orissa High Court upheld the deletion of Section 68 additions for unabated assessment years lacking incriminating search material.
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ITAT Restores Property Capital Gain Assessment And Penalty
ITAT Ahmedabad restores a 2.10 crore property capital gain assessment and 69.45 lakh penalty for de novo computation and thorough verification.
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Income Tax Tribunal Remands Rs 1.09-Crore Cash Addition and Sets Aside Penalty
Income Tax Appellate Tribunal in Agra remands a Rs 1.09-crore cash addition for fresh review and deletes the consequential penalty under section 271AAC.