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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 Annual Information Statement (AIS) under Section 285BB consolidates a taxpayer's financial and tax-related information, includ...
Income Tax : The revised CBDT guidelines effective from 17 October 2024 streamline the compounding process under the Income-tax Act by prescrib...
Income Tax : Section 40A of the Income-tax Act restricts the deduction of specified business expenses where statutory conditions are not fulfil...
Income Tax : Taxpayers can apply for a nil or lower TDS certificate in Form 13 when their estimated tax liability supports deduction at a reduc...
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...
ITAT Mumbai ruled that property transfer is effective on date of possession and payment, not registration. Section 43CA cannot override a completed transfer.
ITAT Bangalore ruled that an addition cannot be made to a concluded assessment during a search without incriminating material. A statement u/s 132(4) is not enough.
ITAT Jaipur upholds CIT(A)’s order deleting ₹80 lakh addition under Section 68; holds share sale genuine and not accommodation entry.
A deep dive into the Previous Year concept under India’s tax law suggests an income-specific approach for new ventures, enabling early tax benefits and deductions.
The Income Tax Appellate Tribunal quashed a tax demand on a police cooperative society, ruling that the reassessment proceedings were invalid.
Court held that Sh. Sanjay Bhandari is a fugitive economic offender under section 12(1) of Fugitive Economic Offenders Act, 2018 as DOE has met all the requirements as per section 2(f) read with section 2(m) and 4 of the Fugitive Economic Offenders Act, 2018 are met.
A summary of government agencies’ efforts to curb black money, including search operations, tax assessments under the Black Money Act, and international agreements.
A summary of India’s direct tax collections from 2020-2025, detailing collections against budget estimates, the impact on fiscal targets, and ongoing reforms to expand the tax base.
ITAT Hyderabad held that issuance of reassessment notice u/s. 148 and 148A of the Income Tax Act after 01/04/2021 without obtaining approval from the specified authority as per amended provisions of section 151 is invalid and liable to be quashed.
PAN 2.0 to simplify PAN/TAN processes with tech upgrades. Project to launch in 18 months post MSP onboarding. India has over 81 crore PAN holders.
