3. CIT (A) deleted the addition holding that the discount paid by the assessee to CFSA cannot be held to be interest and therefore, provisions of Section 40 (a) (i) of the Act would not apply.

Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2025 on February 1, announced that she will table the ...

The Union Cabinet is expected to approve the new Income Tax Bill today, potentially leading to its introduction in the Lok ...

Kerala High Court held that additional machines employed for carrying out the freeze-drying process entitled to enhanced depreciation at 20% under section 32 (1) (iia) of the Income Tax Act. Appeal ...

The Budget 2026-27 also seeks to rationalise TDS/TCS provisions to alleviate compliance challenges and other relevant changes ...