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Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...
Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...
Income Tax : Form 16 and Form 16A serve distinct purposes under the TDS framework, with Form 16 relating to salary income and Form 16A covering...
Income Tax : Permanent Account Number (PAN) serves as a unique identifier enabling the Income-tax Department to track tax payments, returns, TD...
Income Tax : This analysis explains how Parliament designed Sections 11 to 13 to ensure that tax-free income is ultimately used for charitable ...
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 ruled in favor of an assessee, stating the AO cannot reject a Discounted Cash Flow (DCF) valuation report merely because future projections didn’t match actual performance.
ITAT Delhi deletes a bogus purchase addition of Rs. 1.70 crore against My Paper Merchants Pvt. Ltd. due to a lack of cross-examination and valid evidence from the Assessing Officer.
Ankit Chauhan’s penalty for not getting a tax audit was quashed by ITAT Delhi. The court found the assessee to be a commission agent, not a dealer, with reasonable cause for the failure.
ITAT Bangalore restores appeals for Swastik Properties & Developers, ruling that CIT(A) cannot dismiss appeals for non-prosecution and grants a fresh hearing.
ITAT Mumbai rules that a company’s inadvertent Form 10-IC filing for the new tax regime is not binding if the subsequent tax return claims a MAT credit, which is impermissible under the new regime. The decision restores the company’s MAT credit claim.
ITAT Mumbai rules that CSR expenses can qualify for a Section 80G deduction, clarifying that the restriction on business deductions under Section 37 does not apply.
ITAT Bangalore rules that CIT(E) cannot deny 12AA and 80G registration based on the amount of money spent. The focus should be on the genuineness of the activities and objects.
ITAT Chennai rules that an addition under Section 69 must be based on corroborated evidence, not just third-party documents or a retracted statement.
ITAT Delhi quashes a bogus purchase addition, ruling that an entire purchase amount cannot be disallowed when corresponding sales have been accepted.
ITAT Mumbai sends back a tax case for fresh hearing, ruling that the assessee must be provided with the reasons for reopening the assessment before a final order is passed.
