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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...
The ITAT Delhi has quashed a reassessment notice, ruling it was based on borrowed satisfaction and mechanical approval from superior tax authorities.
The ITAT Delhi has quashed a reassessment notice, ruling it was invalid for being issued for verification and based on a borrowed belief without tangible material.
The ITAT Raipur has quashed a reassessment notice for AY 2016-17, ruling it was invalid due to a jurisdictional error where the approval was granted by an incorrect authority.
ITAT quashes reassessment against Mauritius-based FPI, ruling that sanction from correct authority under section 151 was mandatory.
ITAT Mumbai quashes a reassessment notice, ruling it was invalid as the sanction was granted by the wrong authority under Section 151 of the Income-tax Act.
The Bombay High Court has quashed a reassessment notice for AY 2018-19, ruling the sanction was improperly granted by a lower authority, the PCIT.
Tribunal ruled that non-deposit in Capital Gains Account does not bar 54F relief if funds are used for construction within Section 139(4) timeline.
The ITAT Bangalore has deleted a ₹27 lakh addition to a wife’s income, ruling it was double taxation as her husband had already declared the full capital gains.
Mumbai ITAT rules 10% tolerance limit under Section 50C is retrospective from 2003, deleting an addition. It also allows deduction for stamp duty paid by seller.
Cochin ITAT remanded ₹25 lakh addition, holding CIT(A) erred by invoking Section 68 without notice. Matter sent back for fresh adjudication after hearing assessee.
