Income Tax Act 1961 Archives

WhatsApp Chats Lead to Income Tax Raid: Rajasthan High Court Validates Use of Digital Evidence

By CA ALOK KUMAR April 10, 2025Income Tax Act 1961No Comments

In a remarkable development in the world of digital forensics and taxation, the Rajasthan High Court has delivered a precedent-setting judgment that upholds the validity of WhatsApp messages as evidence…

Tax-Free No More? Decoding Agricultural Taxation in the New Bill”

By CA ALOK KUMAR March 27, 2025Income Tax Act 1961No Comments

Tax-Free No More? Decoding Agricultural Taxation in the New Bill”

Claim Your Leave Travel Allowance (LTA) Before the Deadline to Save Tax!

By CA ALOK KUMAR March 12, 2025Income Tax Act 1961No Comments

Introduction to Leave Travel Allowance (LTA) Leave Travel Allowance (LTA) is an excellent tax-saving benefit provided to salaried employees in India. It allows employees to claim exemptions on travel expenses…

Seized Data Alone Is Not Enough for Tax Addition-A Game Changer for Tax Litigation

By CA ALOK KUMAR March 6, 2025Income Tax Act 1961No Comments

ITAT Delhi Ruling: M/s Sanmati Jewellers vs. DCIT, Central Circle-7, Delhi (ITA No. 3031/Del/2022, dated 28.02.2025) Background of the Case M/s Sanmati Jewellers, a partnership firm engaged in trading bullion,…

GST Exemption Denied for Manpower Services to Webel Technology Limited: What Businesses Must Know

By CA ALOK KUMAR March 5, 2025GST, GST Assessment, GST Collection, GST Composition Scheme, GST Council Meeting, GST Law, GST on Commision, GST Refund, Income Tax Act 1961, Tax ExemptionNo Comments

The West Bengal Authority for Advance Ruling (AAR) has recently ruled that GST exemption is not applicable for manpower services provided to Webel Technology Limited (WTL). This decision is a crucial clarification for businesses engaged…

Can I claim Section 89 relief even if the previous year’s ITR is not filed?

By CA ALOK KUMAR February 27, 2025Income Tax Act 1961No Comments

The Income Tax Department does not mandate the filing of ITR for previous years to claim Section 89(1) relief. Even if a taxpayer did not file an ITR for the…

Comprehensive guide on capital gain tax in india

Comprehensive Guide on Capital Gains Tax in India

By CA ALOK KUMAR February 11, 2025Income Tax Act 1961No Comments

Introduction to Capital Gains Tax Capital Gains Tax is levied on the profit earned from the sale of a capital asset during a financial year. The taxability of such gains falls under the head "Capital Gains" in…

Supreme Court: Offence Before Show-Cause Notice is ‘First Offence’ Under Income Tax Compounding Guidelines

By CA ALOK KUMAR February 11, 2025Income Tax Act 1961No Comments

In a landmark ruling, the Supreme Court of India has overturned the Gujarat High Court's 2017 judgment, which had upheld the rejection of a compounding application for Assessment Year (AY) 2013-14 due to the late…

Tax Planning Within Law Is Not Tax Evasion – Offsetting STCL Against LTCG Is Legal – ITAT Mumbai

By CA ALOK KUMAR December 13, 2024Capital Gain, Income Tax, Income Tax Act 1961, Income Tax Department, Income Tax Order, Income Tax Refund, ITAT Decision, ITAT Ruling, Long-term Capital gain, Sec.148 of Income Tax Act, Short-term Capital gain, Tax on capital Gain, Virtual Digital AssetNo Comments

ITAT Allows Taxpayer to Offset STCL Against LTCG, Rejecting Tax Evasion Claims The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has upheld the right of taxpayers to offset…

The Taxman Knows: Why and How to Disclose Your Foreign Assets in India

By CA ALOK KUMAR December 12, 2024BLACK MONEY ACT, Disclosing Foreign Assets, Foreign Account tax compliance, Foreign Assets, Foreign Direct Investment, Foreign Remittance, Foreign Travel, How to check TCS on Forex Transactions and Foreign Travel, Income Tax, Income Tax Act 1961, Income Tax Department, RBI Foreign Remittance Policy, Sec.148 of Income Tax Act, source of incomeNo Comments

The Indian Income Tax Department has intensified its focus on foreign assets held by resident taxpayers. With advanced data-sharing mechanisms and stringent laws like the Black Money (Undisclosed Foreign Income and…