Income tax cases in india

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WebApr 11, 2024 · News India Income tax searches at cooperative banks in Karnataka over tax evasion. ... Delhi logs 980 new Covid cases, positivity rate at 26%. From 'BJP can take away my house' to 'MP just a tag': 5 quotes from RaGa's Wayanad speech. IMF cuts India's FY24 growth forecast to 5.9%, says will remain fastest growing economy ... WebDec 23, 2024 · The Income Tax authorities then contented that Cairn UK had made capital gains and slapped it with a tax demand of Rs 24,500 crore. Owing to different interpretations of capital gains, the company refused to pay the tax, which prompted cases being filed at the Income Tax Appellate Tribunal (ITAT) and the High Court.

Income Tax - Case Laws

WebIndia 38. 476 International Transfer Pricing 2013/14 Introduction A separate code on transfer pricing under Sections 92 to 92F of the Indian Income Tax Act, 1961 (the Act) covers intra-group cross-border transactions which is applicable from 1 April 2001 and specified domestic transactions which is applicable from 1 April 2012. Web4 hours ago · st day of April, 2016.The proviso to section 3(1) stipulates that the undisclosed asset/income located outside India shall be charged to tax on its value in the previous year in which the asset ... ipf xr-18

Income tax searches at cooperative banks in Karnataka over tax …

WebApr 10, 2024 · The Income Tax Department has filed an appeal against the National Company Law Tribunal approving Suraksha Group's bid to buy Jaypee Infratech Ltd (JIL) under the insolvency resolution process. Sources said the I-T Department has filed the petition before the National Company Law Appellate Tribunal against the NCLT order … WebApr 10, 2024 · The tax laws in India provide for taxation of corporate entities as a separate person; and specific income tax return forms for companies are prescribed under the law. The income of a company is classified under different heads of income such as profits earned from the business, capital gains, income from real property and income from other … Web13 For centuries, the Hindu Joint Family, called the Hindu Undivided Family (HUF) under the Indian Income Tax Act, has been the constituent atom of the social order in India. It is essentially an involuntary association of members of a family and under the Hindu Law, the properties and income of such a family are treated as that of one unit so long as the … ipf xr-19

Tax Avoidance and Tax Evasion: The Indian Case

Income Tax Appellate Tribunal

WebDEPUTY COMMISSIONER OF INCOME TAX VS SAHARA INDIA LIMITED. DELHI TRIBUNAL, Apr 06, 2024. 1. This appeal by the Revenue is directed against the order of ld. CIT (Appeals)-I, New Delhi pertaining to AY 2005-06. 2. The grounds of appeal taken by the Revenue read... Legislation Referred To : Section 10 (2) (xv), 37 (1) WebJan 10, 2024 · THIS TYPE OF TOOL PROVIDE IDEA OF APPROX TAX BASED ON INCOME SO TAXPAYER CAN PLAN IT ". * Gross Direct Tax collections for the Financial Year (FY) 2024 … ipf xr-23WebNov 18, 2024 · Residential status of an individual for tax purposes is usually based on the period of stay in India during a financial year. Residency rule under the income tax law requires an individual to be present in India during the relevant year for a minimum of 182 days to qualify as a resident. Further, in certain cases even presence in India for a … ipf xw03

"WebMar 22, 2024 · 1 2024 SCC OnLine SC 159. 2 (2012) 345 ITR 494. 3 (2012) 343 ITR 1 (AAR). 4 Some of the significant Delhi High Court’s decisions being appealed include Director of … " - Income tax cases in india

Income tax cases in india

WebJun 11, 2024 · When it comes to dealing with matters under the harsh ‘Black Money’ law, tax authorities in India have a different rule: In many cases, the Investigation Wing of the Income Tax (I-T) Department also carries out the ‘assessment’ — particularly, where search and surveys have been conducted. The unusual move, which has surprised those suspected of … WebJan 16, 2024 · 16 Jan 2024. 5,982 Views. 1 comment. 1) Held by the Hon’ble Gujarat High Court in the case of Ball Aerosol Packaging India (P.) Ltd. V Assistant Commissioner of …

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WebMar 24, 2024 · Income Tax case Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. Income Tax case Blogs, Comments and Archive News on Economictimes.com. ... (AY 2024-25) in India - Budget 2024. Income tax slab FY 2024-24: Here are the income tax slabs for FY 2024-24. Currently, there are two income tax regimes … WebJan 9, 2024 · ♠ Activities relating to Tax Evasion. 1. Under reporting income. 2. Inflating deductions or expenses. 3. Hiding Money. 4. Hiding interest in offshore accounts. ♠ Perception of Judiciary on Tax Evasion. There are several cases relating to evasion of taxes. Some of the evasion of tax are like in the case of Union of India v.

WebApr 11, 2024 · News India Income tax searches at cooperative banks in Karnataka over tax evasion. ... Delhi logs 980 new Covid cases, positivity rate at 26%. From 'BJP can take … WebMar 1, 2024 · A tax assessment is a procedure adopted to determine the income disclosed by the taxpayer and the tax payable on that income. India has a self-reporting tax system. Taxpayers must file tax returns (for example, income tax and value added tax returns) each year. ... Criminal tax cases follow the Code of Criminal Procedure 1973. The Code does …

WebMar 14, 2024 · The Income Tax (I-T) department has begun the process of reopening old assessments, albeit with a difference this year. The new rule, which came into effect from 2024-22, is simple: till the machine throws up a name, the taxman's hands are tied - unlike before when he could slap notice to reopen a past tax assessment as long as there was … WebSelect Case Studies Government and Public Sector Consulting India 2014. 2 Select Case Studies ... in India, which involved a massive re-engineering exercise across all aspects of People, Process, and Technology. ... PwC supported the Income Tax Department in re-engineering its income tax filing system, by introducing a relevant mix of ...

WebJan 6, 2024 · For Case Status Information, please visit ITAT Judicial Information Portal. ... Government of India. Content Owned, Updated and Maintained by Income Tax Appellate …

Web4 hours ago · st day of April, 2016.The proviso to section 3(1) stipulates that the undisclosed asset/income located outside India shall be charged to tax on its value in the previous … ipf xw-01WebFile Income Tax Returns ( ITR ) for FY 2024-23 (AY 2024-24) online with ClearTax. ClearTax is fast, safe and easy for ITR E-Filing. ClearTax handles all cases of Income from Salary, … ipf xr-24WebApr 15, 2024 · The instant anticipatory bail application has been renewed principally on the ground that other co-accused namely Binod Kumar Agarwal and Bishal Agarwal, whose anticipatory bail was rejected by the Co-ordinate Bench of this Court, had preferred SLP Nos. 527 of 2024 and 593 of 2024 before the Hon’ble Supreme Court arising out of the same … ipf xw-03WebIndia’s income tax department has a very low rate of success in its tax appeals compared with other countries. To address this issue, one of the measures the government has … ipf xw-04Web2 days ago · The case comes months after the Income Tax department’s ‘survey’ for three days at BBC India offices in New Delhi and Mumbai in February. Written by India News … ipf xy16WebNov 4, 2016 · The Income Tax Department NEVER asks for your PIN numbers, ... Income Tax India ; to stay updated ; ask 1800 180 1961/ 1961 Income Tax Department. Skip to main … ipf xw04WebDec 20, 2024 · Personal income tax rates. The slab rates applicable to individuals for tax year 2024/22 are as follows: The basic exemption limit for resident individuals who are 60 … ipf xy33