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Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
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 : ITAT Chandigarh held that the assessee could not establish the authenticity of the purchase transactions underlying the LTCG claim...
Income Tax : The High Court upheld denial of Section 10(38) exemption after concurrent findings established that the share transactions lacked ...
Income Tax : The Delhi High Court upheld the denial of Section 10(38) exemption after finding that the authorities had rightly treated the shar...
Income Tax : The High Court held that issuing a demand notice along with a draft assessment order violated the mandatory procedure under Sectio...
Income Tax : The Court found that the ITAT wrongly held there was no business income despite the assessment record showing income under “Busi...
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 ITAT Hyderabad held that no under-reporting of income existed where the income declared in the return filed under Section 148 was accepted without any addition. The penalty under Section 270A was deleted.
The Delhi High Court held that RTI replies showing tax return filings and bank entries did not establish that specific payments were accounted for in taxable income. As a result, no ground existed to review the earlier dismissal of the writ petition.
The Rajasthan High Court held that proceedings cannot be initiated against a person who has already expired. The notices were quashed, with liberty granted to the Department to proceed in accordance with law against legal representatives.
The ITAT held that reassessment cannot be sustained when the Assessing Officer merely relies on an Investigation Wing report without independent verification. The reassessment order was quashed due to lack of independent application of mind.
The dispute concerned whether deduction under Section 80IB should be reduced by the amount already allowed under Section 80HHC. ITAT held that deductions can be computed independently, provided the aggregate deduction does not exceed eligible profits.
The Tribunal held that the assessee’s delayed appeals warranted condonation in light of an earlier decision on similar facts. The appeals were sent back to the CIT(A) for adjudication on merits.
The appeal was dismissed as time-barred due to a 43-day delay in filing. ITAT held that medical records substantiated the assessee’s health issues and restored the appeal for decision on merits.
The Court held that a Section 148 notice issued on 31.03.2024 for AY 2013-14 exceeded the statutory ten-year limitation period. The reassessment notice was therefore quashed as time-barred.
ITAT Mumbai condoned a 524-day delay in filing an appeal after finding that the assessee remained unaware of the assessment order due to communications being routed through his tax consultant. The matter was remanded for adjudication on merits.
Allahabad High Court held that share capital additions under Section 68 cannot be sustained merely on doubts about the investor’s source of funds. In the absence of evidence showing that the money originated from the assessee and was routed back, the addition was unsustainable.
