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Income Tax : The article explains how offences such as wilful tax evasion, failure to file returns, non-payment of TDS/TCS, falsification of re...
Income Tax : The article explains how delayed or incorrect filing of TDS/TCS returns attracts a late filing fee under Section 234E and penaltie...
Income Tax : The article explains how Short-Term Capital Gains are classified, computed, and taxed under the Income-tax Act, 1961, as amended b...
Income Tax : The article explains how residential status under the Income-tax Act and FEMA impacts taxation, foreign income reporting, business...
Income Tax : The Income-tax Act lays down detailed rules for intra-head and inter-head adjustment of losses, along with conditions for carrying...
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 Delhi ITAT upheld the addition of deemed house property income after finding that the assessee failed to support his claims wi...
Income Tax : The Tribunal held that the CIT(A) had incorrectly applied the principle relating to assessments of non-existent entities without e...
Income Tax : The Tribunal deleted the disallowance after finding no evidence that cash rent payments exceeded ₹10,000 on any single day. The ...
Income Tax : Assessing Officer acknowledged an inadvertent error in adding ₹46 lakh to the taxpayer’s income. The High Court remanded the m...
Income Tax : ITAT sustained the adoption of fair market value under Section 50C after finding that seized cash represented on-money from proper...
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 transfer pricing analysis should focus on international transactions rather than entity-level profitability where segmental data is available. The case was remanded for fresh consideration of comparables and ALP determination.
The Delhi ITAT ruled that no installation or supervisory PE existed in India as the activities did not exceed the 120-day threshold under the India-Canada DTAA. Consequently, income attribution to the alleged PE was held to be unsustainable.
The ITAT held that a penalty under Section 271AAC could not be decided independently when the underlying assessment had already been remanded for fresh adjudication. The penalty issue was restored to the AO for reconsideration after completion of quantum proceedings.
The Tribunal observed that even in ex parte proceedings, the CIT(A) must adjudicate issues through a speaking order. The matter was remanded while directing the assessee to cooperate.
The ITAT Delhi held that no notional rent could be charged for the period during which unsold commercial units remained stock-in-trade. Notional rent, if any, could be computed only after conversion into investment property, with statutory deductions also being available.
Supreme Court held a levy is a fee only when linked to a specific service or benefit. Absence of quid pro quo makes it a tax, regardless of label.
Companies renting residential properties often struggle with choosing between 2% and 10% TDS. The key takeaway is that the correct rate depends on whether the arrangement is a pure lease, equipment rental, or a service contract.
Mumbai ITAT held that payments from accumulated income to institutions registered under Section 12AA attracted Section 11(3)(d). The Tribunal ruled that rectification under Section 154 was valid as the omission was a mistake apparent from the record.
Mumbai ITAT held that the Revenue could not attribute the entire execution revenue from cross-border deals to the Indian PE without adequate evidence. The Tribunal upheld revenue sharing based on actual functions performed by overseas offices.
Mumbai ITAT held that maintenance charges and other collections received exclusively from members of a co-operative society are exempt under the doctrine of mutuality. Surplus generated from such receipts does not constitute taxable income.
