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Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...
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 : 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 Mumbai deleted an addition made under sections 69A and 69C, ruling that an addition based solely on loose papers and a third-party statement without corroboration is not valid.
The ITAT Bangalore ruled that late filing of Form 67 is not fatal to a Foreign Tax Credit claim, as the requirement is procedural, not mandatory.
Cash deposits made by assessee during the demonetization period were properly explained and recorded, therefore, addition made under section 69A of ₹17,16,000 and taxed under section 115BBE was not sustainable.
A guide to carrying forward share trading losses in AY 2025-26. Covers new business codes, ITR rules, tax audit requirements, and how to set off losses.
ITAT Pune ruled that a pending appeal does not prevent a CIT from exercising revisionary powers on unrelated issues that were not part of the original appeal.
The ITAT Mumbai ruled that an assessment order passed on an amalgamated company after authorities were informed is void, citing the Maruti Suzuki precedent.
The ITAT Ahmedabad quashed a reassessment notice, ruling that the Assessing Officer’s use of “either…or” language indicated a lack of proper application of mind.
The ITAT Pune ruled that interest under Section 234B on an updated return should be calculated only up to the date of filing the return, not the intimation date.
The ITAT Chennai ruled that a belated filing of Form 67 does not deny foreign tax credit (FTC). The Tribunal held the filing requirement to be directory, not mandatory.
The ITAT Ahmedabad set aside a reassessment order for Dalpat Baraiya, ruling that approval from the wrong authority invalidated the entire proceeding.
