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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 : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
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 : 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...
The case examined prolonged pendency of an income tax appeal. The court directed the assessee to file a reply within two weeks and allowed disposal even without it if non-compliance continues.
The Tribunal held that weighted deduction under Section 35(2AB) cannot exceed the amount certified by DSIR after the 2016 amendment, leading to disallowance of excess R&D claims.
The court held that expenditure on replacement of independent machinery cannot be treated as revenue when it results in a new asset or advantage. It set aside the Tribunal’s order for relying on a precedent later overturned by the Supreme Court and remanded the case for fresh adjudication.
The case examined whether reassessment approval beyond three years was issued by the competent authority. The court held that approval by an unauthorized officer invalidates the proceedings and set aside the notice.
The case examined whether interest earned on temporarily parked funds is taxable. The court held that funds earmarked for asset acquisition are not surplus, and interest must be treated as capital receipt.
The Tribunal held that reassessment proceedings were invalid as approval was taken from the wrong authority beyond three years. It ruled that such non-compliance with Section 151(ii) vitiates jurisdiction and renders the notice void.
The issue is whether high-income earners can reduce tax liability under the old regime. The analysis shows that structured allowances and deductions can bring taxable income to zero.
The court examined whether interest on FDRs could be taxed as other income. It held that where funds are linked to a project, the interest retains its project nexus and is not separately taxable.
The court examined whether interest on share capital parked temporarily could be taxed. It held that where funds are directly linked to project setup, the interest is a capital receipt and not taxable as other income.
The case examined whether reassessment proceedings were valid when approval was obtained from an incorrect authority. The Court held the sanction invalid as it did not comply with statutory requirements, rendering the reassessment void. The ruling highlights strict adherence to approval hierarchy in reopening cases.
