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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...
Mumbai ITAT rules potential foreign expenditure is not grounds to deny Section 12AB trust registration, emphasizing genuine objectives over speculative future income use.
Understand Debt Mutual Fund taxation for FY24-25, including STCG/LTCG rules based on purchase/redemption dates, and how to accurately report gains in ITR-2.
ITAT-Cuttack holds only net income, not gross receipts, of an unregistered educational trust is taxable, emphasizing consistency in prior assessments.
Explore the concept of tax havens, their features, and profound societal impacts, including revenue loss and inequality. Learn about strategies for reform, international cooperation, and strengthened enforcement.
ITAT Pune allows a petrol pump owner’s appeal for statistical purposes, citing consultant’s lapse in communication and directing re-examination with fair opportunity due to best judgment assessment.
The Madras High Court ruled that income tax assessment and penalty proceedings cannot survive if the foundational Section 148 reassessment notice has been statutorily quashed.
Madras High Court ruled that income tax reassessment based on information already available in audited financial statements is invalid, finding no failure by the company to disclose material facts.
ITAT Ahmedabad condones a 234-day delay in an income tax appeal, citing missed email communication due to an accountant’s resignation, remanding the case for re-adjudication.
ITAT Delhi set aside a Section 271(1)(c) penalty against Kissan Petro Oils Pvt Ltd, as all underlying additions were deleted by the ITAT and claims were based on a CA-certified audit report.
The Kerala High Court clarified eligibility for Income Tax Settlement applications, quashing a CBDT condition and allowing a delayed filing due to Supreme Court’s COVID-19 limitation extension.
