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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...
Court held that penalty under Section 270A cannot apply where assessed income does not exceed processed income. Key takeaway: statutory conditions must be strictly met.
The Tribunal held that the assessee had adequately explained the source of cash deposits with supporting evidence. Addition under Section 69A was deleted as the AO failed to rebut the explanation.
The tribunal ruled that reliance only on an investigation report without independent evidence cannot justify treating LTCG as bogus. Additions under Section 68 and commission were deleted.
The Tribunal held that industrial tariff charged by electricity boards is the correct benchmark for CPP transactions. It rejected the use of generator procurement rates adopted by the TPO.
The Court held that reassessment proceedings must be initiated within the statutory time limit. It found the notice issued after the deadline to be invalid.
A detailed overview of updated TDS provisions mapping old and new sections, rates, and thresholds. Helps taxpayers understand compliance requirements across all payment categories.
The Tribunal held that additions cannot stand without a clear link between seized material and the assessee. It ruled that third-party documents without corroboration lack evidentiary value.
The court examined whether NHRC can direct investigations unrelated to human rights violations. It held that such actions may exceed statutory limits under existing law.
ITAT Delhi held that companies owning and operating channels cannot be compared with distribution company for the purpose of transfer pricing. Accordingly, directs TPO to exclude such comparables for benchmarking distribution segment and determination of ALP.
The scheme allows households to deposit gold and earn interest without selling it. The key takeaway is that both interest and capital gains are fully tax-exempt.
