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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...
ITAT Pune sets aside ₹11.57 lakh disallowance under Section 36(1)(va) for alleged PF/ESI delay, citing conflicting Supreme Court views in Woodland vs Checkmate; matter remanded to CIT(A) for fresh factual and legal adjudication.
ITAT Hyderabad deletes Section 69A additions in alleged penny stock case, holding that documented share transactions cannot be treated as bogus based on suspicion or general investigation reports without specific evidence against the assessee.
ITAT Mumbai rules scholarships to Indian students studying abroad qualify as valid charitable application in India. Denial of 12AB and 80G set aside, clarifying registration stage scope is limited to objects and genuineness.
ITAT Mumbai quashes ₹1.64 Cr reassessment for faceless violation & time-barred notice u/s 148; holds jurisdictional defect fatal, TOLA cannot extend limitation.
The court examined whether delay in Form 10B filing could be condoned but found the authority rejected it on unrelated grounds. It held that such rejection beyond the scope of Section 119(2)(b) was invalid and remanded the matter.
The issue involved classification of land for capital gains taxation. The Court held that revenue records and evidence of agricultural activity prevail, making the land exempt from capital gains tax.
The Court held that reassessment cannot be initiated on issues already examined during scrutiny assessment. It ruled that reopening based on the same material amounts to a change of opinion and is invalid.
The case involved addition on account of unexplained foreign remittances. The Tribunal held that failure to examine documentary evidence warranted remand for fresh adjudication.
The case deals with rejection of a delayed tax appeal due to insufficient explanation. The Court upheld the defect but allowed another opportunity to justify the delay and pursue the appeal.
The Court upheld addition of unexplained income after finding no credible evidence of the donor’s financial capacity. It ruled that failure to establish source and genuineness of cash gifts justifies tax addition.
