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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...
Madras High Court rules non-refundable life membership fees for private clubs are capital receipts, not taxable income, aligning with Supreme Court-affirmed precedents.
ITAT Kolkata remands a best judgment assessment case against Tanveer Alam, directing fresh adjudication after the assessee presented new cash summaries, audit, and valuation documents.
ITAT Indore has remanded a case to the CIT(A) for de novo adjudication after finding the appellate authority ignored the assessee’s reply and tax computation, violating natural justice.
New IT Bill 2025 raises effective tax on LLP long-term capital gains from 12.5% to 18.5%, expanding AMT scope regardless of deductions.
CBDT permits processing of electronically filed ITRs wrongly invalidated by CPC, with intimation due by March 2026, subject to PAN-Aadhaar linkage.
CBDT modifies Rule 21AK under Income-tax Rules, 1962 to include over-the-counter derivatives and clarify the role of Foreign Portfolio Investors.
Supreme Court held that Hyatt International has a fixed place Permanent Establishment in India within the meaning of Article 5(1) of the DTAA, and hence income received under Strategic Oversight Services Agreement [SOSA] attributable to such PE and is taxable in India.
ITAT Chandigarh held that surplus funds of a charitable institution are being held in a fiduciary capacity hence can never be used for any other purpose except for charitable activity. Accordingly, matter remanded back to AO for fresh adjudication.
ITAT Delhi held that imposition of penalty u/s. 270A(9)(a) of the Income Tax Act without mentioning the specific instance of misreporting in the notice or in order will vitiate the penalty order. Accordingly, penalty deleted and appeal allowed.
ITAT Ahmedabad holds NFAC wrongfully dismissed appeal on delay; remands case involving ₹213 Cr additions on grants and accrued interest.
