The Tribunal accepted the assessee’s contention that the property could not have been transferred without compensating the occupants. The related payments were therefore held deductible from the sale consideration for capital gains purposes.
The ITAT held that penalty for misreporting of income cannot be levied when the underlying addition is based merely on estimation of profit. Estimated additions do not establish deliberate concealment or misreporting.
The ITAT held that mere working sheets showing interest calculations do not establish taxable income. The Revenue must prove actual accrual or receipt of interest before making an addition.
The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during FY 2026-27. The guidelines cover survey, search, reassessment, tax-evasion, exemption, and recurring addition cases.
The Allahabad High Court held that allegations arising from private land transactions and cheating claims did not satisfy the requirements of organized gang activity under the Gangsters Act. The Court quashed the proceedings and stressed that criminal law cannot be invoked without statutory ingredients being established.
This analysis explains how charitable and religious trusts qualify for exemption under Sections 11 to 13 of the Income-tax Act. It highlights application of income, accumulation rules, anti-abuse provisions, and a detailed computation model for exempt and taxable income.
This guide explains how employees can claim relief when salary, pension, or other benefits are received in arrears or advance. It outlines the conditions, calculation method, and filing requirements under Section 89.
This guide explains how a Hindu Undivided Family is taxed based on its residential status and the status of its Karta. It highlights the scope of taxation for resident and non-resident HUFs under the Income-tax Act.
Section 194-IA requires buyers of immovable property to deduct TDS at 1% when the sale consideration or stamp duty value is ₹50 lakh or more. The guide explains deduction, deposit, reporting requirements, and consequences of non-compliance.
The document highlights that start-ups enjoying exemption must comply with prescribed restrictions on investments and asset acquisitions. Failure to meet these conditions can result in taxation of excess premium and penalty consequences.
