The Commissioner Of Income Tax vs M/S.Shriram Chits Tamilnadu Pvt. Ltd on 4 November, 2024
Madras High Court The Commissioner Of Income Tax vs M/S.Shriram Chits Tamilnadu Pvt. Ltd on 4 November, 2024 Author: Anita Sumanth Bench: Anita Sumanth 2024:MHC:3756 T.C.A.No.185 of 2013 IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 04.11.2024 CORAM : THE HONOURABLE DR.JUSTICE ANITA SUMANTH and THE HONOURABLE MR.JUSTICE G. ARUL MURUGAN T.C.A.No. 185 of […]
Income tax payers want FM Sitharaman to cut rates, ET LegalWorld
A pre-budget survey reveals that individual taxpayers want relief on the personal tax front to increase their disposable income in Budget 2025-26 to be presented in Parliament by Finance Minister Nirmala Sitharaman on February 1. A majority of respondents, 57 per cent, want lower tax rates, while 25 per cent advocate for higher exemption limits, […]
The Chamber Of Tax Consultants Through … vs Director General Of Income Tax … on 24 January, 2025
Bombay High Court The Chamber Of Tax Consultants Through … vs Director General Of Income Tax … on 24 January, 2025 Author: M. S. Sonak Bench: M. S. Sonak 2025:BHC-OS:1128-DB Revati 9.PIL.32465.24.docx SAYYED Digitally signed by SAYYED IN THE HIGH COURT OF JUDICATURE AT BOMBAY SAEED SAEED ALI ALI AHMED ALI ORDINARY ORIGINAL CIVIL JURISDICTION […]
Fee cuts, tax relief to boost 5G growth, ET LegalWorld
India’s telecom sector, bolstered by its expanding digital infrastructure and the rollout of 5G networks, recorded $39.32 billion in foreign direct investment (FDI) between April 2000 and March 2024. This surge in investment highlights the nation’s growing prominence as a global telecom hub. Ranked second in the world for mobile broadband traffic and internet bandwidth, […]
Smallcase managers expect tax reforms, ESG push, and growth strategies, ET LegalWorld
As India approaches its Union Budget 2025 on February 1, a survey by fintech platform smallcase revealed optimism among investment managers for economic reforms, fiscal discipline, and strategic growth measures. The smallcase managers’ Budget 2025-26 survey, which gathered insights from over 100 investment managers, highlighted expectations for significant tax reforms, a focus on sustainability, and […]
Pr. Commissioner Of Income Tax vs Dcm Shriram Ltd on 21 January, 2025
Delhi High Court Pr. Commissioner Of Income Tax vs Dcm Shriram Ltd on 21 January, 2025 Author: Vibhu Bakhru Bench: Swarana Kanta Sharma, Vibhu Bakhru IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment delivered on: 21.01.2025 + ITA 566/2023 PRINCIPAL COMMISSIONER OF INCOME TAX – 1, NEW DELHI …..Appellant Versus DCM SHRIRAM […]
Supreme Court to review IT department’s appeal on Vodafone Idea tax dispute, ET LegalWorld
The Supreme Court has agreed to examine the income tax department’s appeal against a Bombay HC’s judgment that quashed the tax notices issued to Vodafone Idea for there being a huge difference in quantum of income which had escaped assessment for AY 2016-17. In the notices issued in March 2023 under Section 148A(b) of the […]
FM likely to increase outlay for 2 key tax remission schemes for exporters by 10%, ET LegalWorld
The finance ministry will likely increase allocations for two key tax remission schemes for exporters by about 10% each in the upcoming budget for 2025-26 amid calls for sustained support to blunt the impact of external headwinds, people aware of the development said. In the July 2024 budget, the government had allocated ₹16,575 crore for […]
Supreme Court upholds Rs 1,128 cr tax refund, ET LegalWorld
In a big relief to Vodafone Idea, the Supreme Court on Monday upheld a Bombay High Court order that asked the income tax authorities to refund excess prepaid tax of Rs 1,128 crore to the telco. Vodafone had sought refund of prepaid taxes with interest amounting to around Rs 1,600 crore for the assessment year […]
Finance minister Nirmala Sitharaman set to introduce bill for new direct tax law in the budget session, ET LegalWorld
Nirmala Sitharaman, Union Finance Minister Finance minister Nirmala Sitharaman is set to introduce a bill for a new direct tax law in the budget session, which will focus on simplification of the provisions, doing away with the ones that are redundant and attempt to make the language more layman friendly. The committee tasked with the […]