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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 Maximum Marginal Rate implies tax at the highest slab rate of 30%, not automatic levy of 37% surcharge. Surcharge must strictly follow slab thresholds prescribed in the Finance Act.
The ruling states that the appellate authority must decide grounds on merits after examining evidence, even if the assessee was non-cooperative. The case was sent back for reconsideration subject to costs.
The Tribunal held that pension paid by the US government is taxable only in the United States under the India–USA DTAA. The key takeaway is that beneficial treaty provisions prevail over Indian tax law.
The Tribunal held that mandatory prior approval granted in a routine and non-speaking manner violates statutory requirements. Assessments framed on such approval were found legally unsustainable.
The Court held that reassessment notices failed because seized documents did not relate to the relevant assessment years. Jurisdiction under Section 153C was therefore not validly assumed.
The Court refused to entertain a writ against an assessment order where an appeal remedy was available. Bypassing statutory remedies was held impermissible.
The ITAT held that reassessment initiated in July 2022 for AY 2015-16 was barred by limitation. The ruling confirms that expired cases cannot be revived under the post-2021 reassessment framework.
Clarifies how freelance income appears in Form 26AS/AIS/TIS and highlights employer conduct rules. Key takeaway: separate tax compliance from employment obligations to avoid penalties.
The Tribunal held that additions based solely on third-party statements and Excel data seized from another person cannot survive without independent corroboration. Denial of effective cross-examination rendered the section 69C addition unsustainable.
When only one spouse pays for a jointly owned property, TDS liability rests with the paying spouse. Builders’ insistence on both PANs does not change statutory responsibility.
