Income Tax Officer Suspended For Demanding Bribe from Taxpayer

December 09, 2017 The Commissioner of Income Tax, CBDT (Central Board of Direct Taxes) notified yesterday in a press release  issued by it, that the Income Tax Department has suspended an Income Tax Officer against whom complaint was received making serious allegations or harassing a taxpayer in a scrutiny case with malafide intention. In the complaint More...

by Shilpi Sharan | Published 5 days ago

By Shilpi Sharan On Friday, December 8th, 2017

Deadline for linking Aadhaar with PAN Extended to March 31

  December 08, 2017 The CBDT (Central Board of Direct Taxes) has today notified that the deadline to link Aadhaar number with PAN (Permanent Account Number) has been further extended from December 31, 2017 More...

By Shilpi Sharan On Thursday, November 23rd, 2017

Panel set up to Overhaul Income Tax Law

November 23, 2017 The Centre has set up a Panel to formulate a draft direct Tax after reviewing the Income Tax Act, 1961. The proposed law is expected to consolidate the existing laws into one single legislation. More...

By Shilpi Sharan On Saturday, November 18th, 2017

National Anti-Profiteering Authority under GST

November 18, 2017 The Cabinet chaired by the Prime Minister Narendra Modi yesterday has given a green signal for the creation of the posts of Chairman and Technical Members of the National Anti-profiteering Authority More...

By Shilpi Sharan On Thursday, November 9th, 2017

Setting Aside of Arbitration Award on the Grounds of Public Policy

November 09, 2017 Section 34 of the Arbitration Act, 1996 provides for filing application to set aside an Arbitral Award by the Court. Section 34 enumerates the grounds on which an arbitral award may be set aside More...

By Shilpi Sharan On Wednesday, November 8th, 2017

IBBI Strengthens its Due Diligence Framework under the Code

November 08, 2017 The Insolvency and Bankruptcy Board of India (IBBI) yesterday has effected amendments to the IBBI (Insolvency Resolution Process for Corporate Persons) Resolution Process, 2016 to impose a greater More...

By Shweta On Wednesday, September 9th, 2015

Important Judgments Dealing With Housing and Consumer

Judgments Dealing With Housing & Consumer Here are a few Judgments related to Housing Cos and Consumer Complaints 1. “[III (2012) CPJ 315] Chilkuri Adarsh v. Ess Ess Vee Constructions” in which it was held More...

Income tax
By Shweta On Tuesday, July 28th, 2015

5 Income Tax Judgments dealing with Interest

5 Income Tax Judgments dealing with Interest Supreme Court in Shew Kissen Bhatter V/sCommissioner of IncomeTax,WestBengal(1973 ITR (Vol.89) 61), in which the Supreme Court considering the question of payment of More...

By Shweta On Tuesday, July 28th, 2015

Cases dealing with Maintainability of Petitions When alternative/efficacious remedy exists under other laws

Cases dealing with Maintainability of Petitions When Alternative/Efficacious remedy exists under other laws 1. M/S Maa Durga Enterprises versus The Bihar Industrial Area Development Authority and Others High Court More...

Income tax
By Vakilno1 On Tuesday, January 13th, 2015

New Draft for Income computation and Disclosure Standards under the Income Tax Act, 1961

Sub Section 145 of Income tax Act, 1961 provides that the incomes chargeable under the heads “Profits and gain of business or profession” or “ Income from other sources” shall be subject to the provisions More...