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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 : The Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
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...
Understand what qualifies as a short-term capital asset in India, including the holding periods for different assets like property and shares. Learn about special calculation rules.
Delhi ITAT rules in favor of Kohinoor Foods, setting precedents on hedging losses, stock additions, and DRP jurisdiction. A key victory for consistency in tax law.
A look into why taxpayers face interest charges under Sections 234B and 234C, exploring how Section 210, a provision for official reminders, is no longer used by the tax department.
A summary of the definition of a “company in which the public are substantially interested” per the Income Tax Act, outlining the different categories that qualify for this status.
Delhi ITAT invalidates Bajaj Group assessments for AYs 2011-2019 ruling the Section 153D approval was a mechanical omnibus sanction without due diligence.
A summary of issues with the rectification process under the Income Tax Act 2025, highlighting the disparity in timelines for taxpayers and the department.
Section 194T mandates firms and LLPs to deduct 10% TDS on payments like salary, bonus, and interest to partners, with a ₹20,000 threshold, effective April 1, 2025.
The ITAT Delhi has deleted a penalty imposed by the CIT(A), ruling that the CIT(A) did not have the jurisdiction to change the nature of a penalty from Section 271AAB to 271(1)(c).
The ITAT Delhi has remanded the transfer pricing case of Stryker India Pvt. Ltd., directing the exclusion of one comparable and inclusion of another, and allowing for the netting of payables and receivables.
The ITAT Delhi has dismissed a reassessment appeal, ruling that a Section 148 notice issued on March 31 but dispatched on April 20 was invalid. The delay in service rendered the assessment void as it fell under new, amended law.
