This document provides a complete reference on compounding of offences, including application procedures, offence-wise charges, repeat offence rules, and CBDT approval requirements. It reflects the provisions of the Income-tax Act as amended by the Finance Act, 2026.
The Tribunal allowed 60% depreciation and deleted TDS disallowance after distinguishing a copyrighted article from copyright.
ITAT held that subsidy recognised as income could be claimed as bad debt when it became unrecoverable, even if written off in the same year.
ITAT held that the AO could not change the valuation method adopted under Rule 11UA and deleted the addition under Section 56(2)(viib).
This glossary explains the most commonly used terms under the Income-tax Act, 1961, including PAN, TDS, assessment, appeals, and capital assets. It serves as a quick reference guide based on the Finance Act, 2026.
ITAT accepted the Section 158A declaration and directed the AO to apply the High Court’s final ruling to the relevant assessment year.
The High Court dismissed the Revenue’s appeals as infructuous after the Tribunal disposed of the main appeals, leaving the legal questions open.
ITAT deleted the addition after holding that a retracted statement alone could not justify it where documentary evidence supporting purchases remained uncontroverted.
This guide explains all ten Income Computation and Disclosure Standards (ICDS) and provides reconciliation formats between Accounting Standards and ICDS. It helps taxpayers understand adjustments required for computing taxable income.
Provisions that were typically restricted or viewed as contingent become fully deductible business expenses the moment they were quantified, crystallized, and physically paid out before the tax return filing deadline. Revenue could not arbitrarily disallow a flat percentage of direct operational or employee welfare expenses based on general suspicion.
