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Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
Income Tax : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...
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 : ITAT Chandigarh held that the assessee could not establish the authenticity of the purchase transactions underlying the LTCG claim...
Income Tax : The High Court upheld denial of Section 10(38) exemption after concurrent findings established that the share transactions lacked ...
Income Tax : The Delhi High Court upheld the denial of Section 10(38) exemption after finding that the authorities had rightly treated the shar...
Income Tax : The High Court held that issuing a demand notice along with a draft assessment order violated the mandatory procedure under Sectio...
Income Tax : The Court found that the ITAT wrongly held there was no business income despite the assessment record showing income under “Busi...
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 High Court held that classification of grant-in-aid as capital or revenue is a debatable issue. It ruled that such classification disputes do not amount to furnishing inaccurate particulars.
The Tribunal held that challenges to appreciation of evidence amount to review, not rectification. It ruled that Section 254(2) permits only correction of apparent errors, leading to dismissal of the Revenue’s application.
The Tribunal held that long-term capital gains cannot be disallowed solely on investigation reports and assumptions. It found that documentary evidence and investment history supported genuineness, leading to deletion of additions under Section 68.
Examines whether retrospective tax laws can validly alter past legal interpretations. The case highlights how constitutional limits prevent legislatures from rewriting judicially settled meanings under the guise of clarification.
A clear guide explaining how both the 1961 and 2025 tax laws will coexist, and why professionals must apply each depending on the assessment year.
ITAT holds TDS applies on year-end provisions where payee, amount, and nature are identifiable—assessee treated in default u/s 201. Relief allowed if payees paid tax; no TDS default on salary provisions as deduction arises on payment.
ITAT allows Section 80P deduction to Souharda society, holding registration under Souharda Act qualifies as co-operative society; rejects technical denial, finds no non-member dealings, and rules even disallowances boosting income remain eligible for 80P deduction.
ITAT allows deduction of interest paid under capital bond agreement, holding a clear contractual obligation existed; since corresponding interest income was taxed, matching liability must be allowed-disallowance deleted as one-sided taxation is impermissible.
Delay of 208 days condoned on bona fide grounds with ₹1,000 cost; ITAT sets aside ex-parte CIT(A) order, holding denial of hearing violates natural justice, and remands matter to AO for fresh adjudication with full opportunity.
ITAT remands ₹33.12 lakh agricultural income claim due to lack of evidence; holds no proof means taxable u/s 68/115BBE, but grants one more chance for verification, imposing ₹2,000 cost for non-compliance.
