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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 : 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 : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...
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 Telangana High Court restored an income tax appeal after finding that notices were not sent to the consultant’s address mentioned in the appeal memo. The Court condoned a delay of 2913 days subject to payment of Rs. 50,000 as costs.
The Tribunal held that rental income earned from immovable property held under trust could not automatically be treated as business income. It ruled that the proviso to Section 2(15) was wrongly invoked where the trust’s dominant object remained charitable.
The ITAT Agra upheld deletion of a Section 14A disallowance after finding that the Assessing Officer mechanically applied Rule 8D without recording reasons for dissatisfaction. The Tribunal reiterated that such satisfaction is mandatory before invoking Rule 8D.
The ITAT Delhi held that an assessment order passed in the name of an amalgamated company that had ceased to exist was void ab initio. The Tribunal relied on settled law that jurisdictional defects involving non-existent entities cannot be cured under the Income Tax Act.
The Gujarat High Court held that revisional powers under Section 263 cannot be invoked merely because the Commissioner prefers another valuation method. The Court ruled that the Assessing Officer had conducted proper inquiry and adopted a plausible view based on the DVO report.
The ITAT Delhi held that reassessment notices issued after expiry of the surviving limitation period under the amended reassessment regime were invalid. The Tribunal quashed the reopening proceedings and related penalties for both assessment years.
A comprehensive guide explaining taxation of house property income, annual value computation, deemed ownership, and deductions under the Income Tax Act, 2025. Covers practical examples and key compliance requirements for taxpayers.
A detailed guide explaining appellate procedures, drafting of grounds of appeal, and preparation of Statement of Facts under Income-tax law. The article highlights how proper drafting significantly influences appellate success.
The Delhi ITAT held that belated filing of Form No. 67 is only a procedural lapse and cannot extinguish substantive Foreign Tax Credit rights under sections 90/90A/91 and applicable DTAAs. The Tribunal directed verification and grant of FTC where the form was filed before completion of assessment proceedings.
ITAT Delhi held that levy of penalty under Section 271D requires pending or completed assessment proceedings containing findings on Section 269SS violation. Since no regular assessment was framed, the penalty was directed to be deleted.
