Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.
Income Tax : This article explains the interest provisions applicable to delays in TDS deduction, TDS/TCS payment and non-payment of tax demand...
Income Tax : The article explains how accurate Form 10BD reporting protects donor deduction claims, prevents penalties, and ensures consistency...
Income Tax : The article explains what remains unchanged under the new tax law while highlighting critical compliance checks taxpayers should u...
Income Tax : The provisions under Sections 80C, 80D, 80DD, and 80DDB provide tax deductions because taxpayers incur eligible expenses on life i...
Income Tax : AO rejects books of accounts and applies flat net profit rate. Can taxpayer claim depreciation separately or is it embedded in tha...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The ITAT held that investments which did not generate exempt income during the year cannot be considered for Rule 8D disallowance....
Income Tax : The ITAT Ahmedabad held that isolated WhatsApp messages and electronic communications cannot, by themselves, support additions in ...
Income Tax : ITAT Ahmedabad held that penalty under Section 43 of the Black Money Act could not be imposed when foreign assets were subsequentl...
Income Tax : The Delhi ITAT held that notifications issued under TOLA extending limitation periods applied only to specified statutes and not t...
Income Tax : The Delhi ITAT held that reassessment proceedings were invalid where the Assessing Officer made additions unrelated to the reasons...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
The Tribunal held that, apart from the CBDT clarification, the seller had declared the capital gains and discharged taxes. Therefore, the purchaser could not be treated as an assessee in default under Section 201(1).
The Tribunal held that interest under Section 244A must be computed up to the actual date of refund issuance. Restricting interest to the date of refund determination under Section 143(1) was found to be incorrect.
The ITAT held that Section 56(2)(viib) cannot apply where equity shares are issued upon conversion of CCDs without receipt of fresh consideration during the relevant year. The ruling emphasizes that the provision is triggered only upon actual receipt of share consideration.
The ITAT held that reassessment initiated beyond four years cannot survive unless the Assessing Officer records that the assessee failed to fully and truly disclose material facts. Since the recorded reasons contained no such allegation, the notice under Section 148 was declared invalid. The consequential reassessment order was quashed.
The ITAT Chennai held that an Assessing Officer cannot introduce a new addition while giving effect to an appellate order. Since the Tribunal had issued no direction to tax ₹5 crore as income from other sources, the addition was deleted.
The Tribunal held that actual rent received under genuine, registered agreements cannot be replaced with hypothetical market rent without cogent evidence of manipulation or unaccounted consideration. Since the Revenue failed to establish suppression of rent, the ALV addition was deleted.
ITAT found that the assessee had sufficient cash resources to meet the impugned credit card payments. Since the authorities did not establish utilisation of cash elsewhere, the addition was deleted.
The Calcutta High Court held that refund adjustment against a disputed tax demand was unsustainable when both a stay application and appeal remained pending. The Court directed release of the refund with interest and barred coercive recovery until the stay application is decided.
The High Court questioned the Revenue’s refusal to grant credit for advance tax and TDS despite substantial amounts already lying with the Government. The matter was directed towards reconsideration through a fresh assessment.
The ITAT Jodhpur deleted the disallowance relating to delayed PF and ESI deposits, holding that the impact of the COVID-19 pandemic and the EPFO’s relaxation measures had not been properly considered. The Tribunal emphasized a pragmatic approach in exceptional circumstances.
