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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 issue was failure to pass a final assessment order after DRP directions within the statutory timeline. The Court held the assessment invalid and time-barred, quashing the proceedings.
The issue was whether stamp duty value of redevelopment property is taxable without possession. ITAT held that Section 56(2)(x) applies only on actual receipt, so no tax arises without possession.
The issue was whether delay in filing appeal can be condoned when assessment order was not served. ITAT held that non-service constitutes sufficient cause, requiring fresh adjudication on merits.
The issue was addition of cash found during search claimed to belong to the assessee’s mother. The Tribunal allowed partial relief, accepting some explanations based on evidence and probabilities while sustaining the balance.
The issue was denial of concessional tax regime due to incorrect ITR disclosure and alleged delay in filing Form 10-IC. The Tribunal held that due date depends on the class of assessee, not procedural lapses, and allowed Section 115BAA benefit.
The ruling clarifies that payments for off-the-shelf software are not royalty. It eliminates TDS liability unless a permanent establishment exists.
Section 194T mandates TDS on partner payments with a strict April 30 deadline for March deductions. Missing it can lead to interest and expense disallowance.
The Tribunal held that interest expenses cannot be disallowed when the trust merely facilitates transactions and costs are reimbursed. It emphasized the concept of real income and pass-through structure.
The issue was whether contractor deposits could be treated as unexplained credits. The Tribunal held they were genuine trade liabilities, not taxable under Section 68.
The issue was reopening based on incorrect cash deposit figures exceeding ₹50 lakh. The Tribunal held actual amount was lower, making notice time-barred and invalid.
