CAPITAL GAIN

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

December 13, 2024Posted inCapital 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…
Bogus Transactions

Admit Bogus Transactions, Face Reassessment – Gauhati HC Ruling

December 11, 2024Posted inBogus Transactions, Finance Acts, Income Tax Act 1961, Income Tax Department, Income Tax Order, Income Tax Refund, reassessment notice, Sec.148 of Income Tax Act, source of income, The Finance Act 2023No Comments
Notice Under Section 148A(b): Gauhati High Court Upholds Validity in Case of Bogus Transactions The Gauhati High Court recently addressed the validity of notices issued under Section 148A(b) of the…
Unexplained Money

Indirect Fund Transfers Not ‘Unexplained Money,’ Rules High Court

December 11, 2024Posted inAllahabad High Court, First Rand Bank, Income Tax, Income Tax Act 1961, Income Tax Department, Income Tax Order, micro-borrowers, Sec.148 of Income Tax Act, source of income, TDS ON SALARY INCOME, Unexplained MoneyNo Comments
Funds Temporarily Held in One Account Before Transfer to Another Doesn’t Qualify as Unexplained Money: Allahabad High Court The Allahabad High Court has clarified that funds temporarily placed in one…
Vivad se Vishwas Scheme

Time to negotiate your Tax Bills with Income Tax department – Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV 2024)

December 9, 2024Posted inAdvance Tax, BLACK MONEY ACT, Direct Tax, HUF Taxation, Income Tax, Income Tax Act 1961, Income Tax Department, Income Tax Order, Income Tax Refund, New Tax Regime, New Tax System, NGO Tax, Presumptive Taxation, Tax Assessment, Tax in India, TaxPayers Voice, Vivad se Vishwas, Vivad se Vishwas 2.0, Vivad se Vishwas 2024No Comments
The Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV 2024): Simplifying Tax Dispute Resolution The Direct Tax Vivad Se Vishwas Scheme, 2024 (DTVSV 2024) is a transformative government initiative designed to address…