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ITAT cites violations of Section 13A of the I-Tax Act, including late filing of returns and accepting cash donations exceeding the Rs.2,000 limit, disqualifying the party from exemption

No tax relief for Congress, Appellate Tribunal says no tax exemption on income of...

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Tribunal upholds tax demand on Congress for 2017–18 over donation irregularities In a setback to the Congress party, the Income Tax Appellate Tribunal (ITAT) dismissed...
The government had aimed for Rs.22.07 lakh crore in direct tax receipts, and CBDT chief's remarks suggest the country is poised to exceed this goal for the second consecutive year

India’s direct tax collections set to exceed budget target for 2024-25

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Direct tax collections likely to exceed Budget target of Rs.22 lakh crore India's direct tax collections are on track to surpass the target set in...
The fiscal deficit has been reduced from more than 9% of GDP in 2020-21 to the targeted level of 5.1% for 2024-25

Direct tax collections jump 19.5% to Rs.5.74 lakh crore in 2024-25

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Net direct tax collections grow 19.05% The net direct tax collection recorded a strong growth of 19.5% to Rs.5.74 lakh crore as of July 11...
I-T Dept refrains from taking any coercive action against the Congress with reference to the tax demand notices of around Rs.3,500 cr in view of the upcoming Lok Sabha elections 2024

No coercive steps to recover tax demand of over Rs.3500 crores from Congress till...

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Relief for Congress as I-T won't recover dues during polls On Monday, the Income Tax department told the Supreme Court that it won't take any...
Net direct tax collection of Rs.18,90,259 cr as on March 17, 2024, includes CIT Personal Income Tax including Securities Transaction Tax

Net direct tax collections for FY 2023-24 grow at over 19.88%: I-T Dept

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India's net direct tax collection over Rs.18.90 lakh crore till March 17 The provisional figures of direct tax collections for the Financial Year 2023-24 as...
The Income Tax Department receives information on specified financial transactions of taxpayers from various sources

Income Tax Dept detects cases of tax not being fully paid; sets March 15...

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Not paid tax according to specific financial transaction, do so by March 15, says Income Tax Dept The Income Tax Department has identified some persons...
Senior Advocate Vivek Tankha, who appeared for the Congress, has requested to keep the order in abeyance for 10 days so that they can approach the High Court

Income Tax tribunal dismisses Congress’s plea to stop action against bank accounts

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Big setback for Congress: Income Tax Tribunal junks Congress, plea seeking stay on freezing accounts; party says will move HC In a major setback to...
Unpaid taxes from income earned off National Herald properties haunt the Gandhis. AAP included in the net?

SC defers hearing of Income Tax assessment case of Gandhis till Dec 13

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The Delhi HC had yet to issue notice of the petitions against its decision The Supreme Court on Friday deferred the hearing of the petitions...
“The assessment order passed by the department in August this year was time barred and hence cannot be sustained,

Bombay HC orders tax refund of Rs.1128 cr to Vodafone Idea. Pulls up I-T...

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Vodafone Idea's 'win of Rs.1128 crore' The Bombay High Court has directed the Income Tax Department to refund Rs.1,128 crore to Vodafone Idea Limited paid...
The company’s corporate office is in Bhopal while the registered office is in Delhi

Income Tax Dept conducts search & seizure operation at offices, factories of Som Distilleries

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Som Distilleries share price drops by 4.3% Som Distilleries and Breweries Limited said that a search and seizure operation by the Income Tax Department at...

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