Updates Latest Circulars, Notifications, etc. More... Notification No. 7/2025/F. No. 203/20/2024/ITA-II - By the powers conferred by clause (ii) of sub-section (1) of section 35 of the Income Tax Act, 1961 read with Rules 5C and 5D of the Income Tax Rules, 1962 hereby approves Central Power Research Institute (CPRI) (PAN: AAAAC0268P), Bengaluru under the category Income Tax Act, 1961 and the Income Tax Rules, 1962. Dated: 14-Jan-2025 Notification No. 6/2025/F. No. 275/108/2024-IT(B) - Section 206C(1H)—Unit of International Financial Services Centre not to be Considered as Buyer for the Purposes of Section 206C(1H) Dated: 06-Jan-2025 Notification No. 5/2025/F. No. 300196/37/2019-ITA-I - Section 10(46)—Exemption to Specified Income of Notified Body/Authority/ Board/ Trusts/Community—Karnataka State Horticulture Development Agency Dated: 03-Jan-2025 Notification No. 4/2025 F.No. 196/1/2023-ITA-I - Section 10(46)—Exemption to Specified Income of Notified Body/Authority/ Board/ Trusts/Community—Rabindra Setu, Kolkata Dated: 03-Jan-2025 Notification No. 3/2025/F.No. 275/109/2024-IT(B) - Section 197A(1F)—Exemption from TDS under section 194Q for Purchase of Goods from a Unit of International Financial Services Centre Dated: 02-Jan-2025 Notification No. 2/2025/F.No. 275/110/2024-IT(B) - Section 197A(1F)—Exemption from TDS on Payments Received by a Credit Guarantee Fund Established and Wholly Financed by the Central Government and Managed by the National Credit Guarantee Trustee Company Limited Dated: 02-Jan-2025 Notification No. 1/2025/F.No. 275/25/2023-IT(B) - ection 197A(1F)—Exemption from TDS on Payments Received by the National Credit Guarantee Trustee Company Limited, being a Company Established and Wholly Financed by the Central Government Dated: 02-Jan-2025 Circular No. 21/2024 (F. No. 225/205/2024/ITA-II) - Extension of Due Date for Furnishing Belated/Revised Return of Income for the Assessment Year 2024-25 in Certain Cases Dated: 31-Dec-2024 Latest Articles More... Capital Gains Premature Redemption of Section 54EC Bonds—Whether Permissible CA. Nisha Bhandari International Transaction Tolerance Range for Transfer Pricing—As Notified by the CBDT for Assessment Year 2024-25 CS. Ayush Rathi Penalty Misreporting or Under Reporting of Income has to be Clearly Mentioned in the Penalty Notice Issued Under Section 274 r/w Section 270A Akhilesh Kumar Sah Deductions Interest on Debentures Payable to 'LIC Mutual Fund'—Applicability of Section 43B CS. Preeti Satyani Scope of Books of Accounts Recording of Satisfaction for Invocation of Rule 8D—Financial Statements v. Books of Accounts CS. Ayush Rathi DTAA MFN Revocation by Swiss Govt./Tax Authorities Srivatsan Ranganathan Charitable trusts Income Subject to Application Under Section 11 Not Eligible for Any Deduction Available Under Different Heads of Income CA. Nisha Bhandari Capital Gains Tax Planning—Gift Residential Building(s) to Wife and Children Before Accrual of Long-Term Capital Gain from Other Assets for Availing Exemption Under Section 54F V.K. Subramani Income Tax View all ITO v. Aditya Institute of Technology and Management & Ors. Section : SC -- 10 Jan 2025 Application DisposedSpecial Leave Petition (Criminal) Diary No. 57880/20242025 TaxPub(DT) 466 (SC) DCIT v. AKMG Alloys (P) Ltd. Section : 271D 143(3) 269SS 274 271E 269T 271(1)(c) Chen-Trib -- 10 Jan 2025 Assessee Appeal Allowed Revenue Appeal DismissedITA No. 873/Chny/2023 and Cross Objection No. 12/Chny/20242025 TaxPub(DT) 465 (Chen-Trib) T & D Petro Services v. ITO Section : 143(3) 250 143(2) 142(1) Panaji-Trib -- 10 Jan 2025 Assessee Appeal Partly AllowedITA Nos. 190/PAN/20232025 TaxPub(DT) 464 (Panaji-Trib) Sonansh Creations (P) Ltd. v. Asstt. CIT & Anr. Section : 148A 149 148A(b) 132(4) 148A(c) 147 132A 135A 151 Del-HC -- 10 Jan 2025 Petition AllowedW.P. (C) No. 17570/20222025 TaxPub(DT) 463 (Del-HC) Prateeknagpal v. ACIT Section : 10 69 69C 153D 153A 143(3) (1) 153B 153C Del-Trib -- 10 Jan 2025 Assessee Appeal Partly AllowedITA No. 466/DEL/2022, ITA No. 521/DEL/20222025 TaxPub(DT) 462 (Del-Trib) Piyush M. Dobariya v. ITO Section : 143(3) 44AD 45 45(1) 131 133(6) Ahd-Trib -- 10 Jan 2025 Assessee Appeal DismissedITA No. 595/Ahd/2020 and ITA Nos. 596 & 597/Ahd/20202025 TaxPub(DT) 461 (Ahd-Trib)