Mere low income cannot constitute understatement of income by an Assessing Officer
The provisions contained in the section 147 of the Income Tax Act authorizes the Assessing Officer for reassessment by reopening the case wherever there is... Read More
Reassessment of income tax
Reassessment under Section 147 for increase in revenue due to demonetization
The Government of India for curbing the black economy has stimulated people for shifting towards the digital payment mode for their financial transactions using net... Read More
Diving Deeper: The Impact of the New Tax Bill on Dairy and Farming Income 
Bombay High Court Upholds Section 271(1)(c) Penalty for Deliberate Non-Disclosure 
Reporting of Foreign Assets by Indian Taxpayers under Section 139(1) of the Income Tax Act 
Major Changes Expected in Direct Tax Code 2025 and why these matter