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An In-depth Analysis of Section 115BAC: Understanding the Optional Scheme vs. Default Scheme of Taxation
Introduction: The landscape of taxation in India has witnessed significant changes over the years, with amendments and new provisions being introduced to streamline the system and
An In-Depth Analysis of Key Sections in the Income Tax Act: Ensuring Financial Transparency and Compliance
Introduction: Decoding India’s Income Tax Act The Income Tax Act of India comprises various sections designed to regulate financial transactions, promote transparency, and cu
Income Tax Act: Navigating Cash Transactions and Tax Compliance – A Comprehensive Analysis
Introduction In an era where financial transparency and accountability are paramount, individuals and businesses must navigate the intricate landscape of cash transactions under th
Addition Cannot Be Deleted Merely for Mentioning Section 68 Instead of 69: A Legal Analysis of ITAT’s Approach to Unexplained Cash Credits
A summary of the case law and its implications for income tax assessments Introduction The Income Tax Appellate Tribunal (ITAT) continues to play a crucial role in shaping the juri
Evidentiary Treatment of Loose Sheets in Income Tax Survey and Search Operations
Introduction During income tax survey and search operations conducted under the Income Tax Act, 1961, authorities frequently encounter loose sheets containing various notati
Dispute Resolution Panel under Section 144C of the Income Tax Act
Introduction The Indian taxation framework has witnessed several reforms aimed at reducing litigation and ensuring a faster resolution of disputes, particularly in cases involving
Faceless Assessment Procedure under Section 144B of Income Tax Act: Legal Framework and Operational Units
Introduction The introduction of Section 144B in the Income Tax Act, 1961, through the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020, represent
Faceless Assessment Procedure under Section 144B of Income Tax Act- Part 4
Introduction Until now, we have discussed the Introduction of Faceless Assessment, assignment of cases and communication of response in Part 1, & request for information and do
Faceless Assessment Procedure under Section 144B of Income Tax Act – Part 3
Introduction Until now, we have discussed the Introduction of Faceless Assessment, assignment of cases and communication of response in Part 1, & request for information and do
Faceless Assessment Procedure under Section 144B of Income Tax Act – Part 2
Introduction The Indian tax administration system has undergone a transformative evolution with the introduction of faceless assessment procedures. This revolutionary mechan
