Judgement

An individual failed to report foreign ESOPs in Schedule FA in the first year of compliance, though taxes were already paid. The tax officer imposed a ₹10 lakh penalty, upheld by CIT(A). The appellant argued it was a genuine, unintentional mistake due to initial confusion.

Employee Penalized Rs. 10L for Not Disclosing Foreign ESOPs: ITAT Deletes Penalty for Bona Fide Error

ITAT rules the ARC trust as a pass-through; income from NPAs is taxable in SR holders.

ITAT Holds Securitisation Trust Not Taxable; Income Taxable in Investors’ Hands

Articles

A thoughtful reflection on how love, empathy, and genuine understanding can transform human relationships and create a peaceful, harmonious world.

The Power of Love and Understanding for a World of Tranquillity

ITAT allows compensation deduction on share deal cancellation and rejects the allegation of a tax avoidance device.

ITAT Allows Contractual Compensation Deduction; Rejects Colourable Device Allegation

The High Court annulled the ex-parte assessment and referred the case for new adjudication, determining that sending notices to incorrect email addresses breached the principles of natural justice and denied the petitioner a fair chance to present their case.

Income Tax Reassessment Passed Ex Parte Due to Notices Sent to Wrong Email

News

ICAI had requested changes in the PM Internship Scheme to include CA firms, increase stipend flexibility, and expand opportunities for students, especially in tier-II and tier-III cities across India.

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Employee Penalized Rs. 10L for Not Disclosing Foreign ESOPs: ITAT Deletes Penalty for Bona Fide Error

ITAT Holds Securitisation Trust Not Taxable; Income Taxable in Investors’ Hands

The Power of Love and Understanding for a World of Tranquillity

ITAT Allows Contractual Compensation Deduction; Rejects Colourable Device Allegation

Income Tax Reassessment Passed Ex Parte Due to Notices Sent to Wrong Email

ICAI requests govt to tweak PM Internship Scheme: Proposes to Increase Internships in Small Towns