News

3i Infotech has disclosed the dismissal of its pending income tax appeals for four assessment years following settlement of disputes involving approximately Rs 775.05 crore in disputed additions.

3i Infotech Settles Rs 775.05 Crore Income Tax Disputes Under Vivad Se Vishwas Scheme 2024

Judgement

The Supreme Court has held that bleaching and dyeing of exempt powerloom textiles does not amount to manufacture.

Supreme Court Holds Job-Work Processing Not Liable to Textile Cess Under Section 5A

The Supreme Court held that unpaid excise duty on closing stock cannot be disallowed without establishing its impact on taxable income.

Supreme Court Holds Section 43B Disallowance Impermissible Without Claim of Deduction

The Income Tax Department is urging select taxpayers to disclose undeclared overseas assets under FAST-DS by December 31, with disclosures covering foreign properties, shares and bank accounts.

IT Department Urges Select Taxpayers to Disclose Undeclared Overseas Assets Under FAST-DS

The ITAT allowed Section 10(10B) exemption on BSNL VRS 2019 compensation, directing the Assessing Officer to recompute taxable income while withdrawing the overlapping Section 10(10C) benefit.

Former Employee Secures Major Relief: ITAT Allows Section 10(10B) Exemption on BSNL VRS 2019 Compensation

The Income Tax Department reminds taxpayers to file Q2 TDS returns by October 31, 2026, and issue TDS certificates by November 15 to avoid penalties.

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3i Infotech Settles Rs 775.05 Crore Income Tax Disputes Under Vivad Se Vishwas Scheme 2024

Supreme Court Holds Job-Work Processing Not Liable to Textile Cess Under Section 5A

Supreme Court Holds Section 43B Disallowance Impermissible Without Claim of Deduction

IT Department Urges Select Taxpayers to Disclose Undeclared Overseas Assets Under FAST-DS

Former Employee Secures Major Relief: ITAT Allows Section 10(10B) Exemption on BSNL VRS 2019 Compensation

Income Tax Department Reminds Taxpayers to Meet TDS Compliance Deadlines as Q2 Return Filing Date Approaches