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Income Tax : The Supreme Court dismissed the Revenue's review petitions and reiterated that payments for off-the-shelf software do not constitu...
Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...
Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...
Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...
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 Ahmedabad held that a protective addition cannot be deleted merely because a substantive addition has been confirmed at the f...
Income Tax : The Tribunal held that a 12.5% disallowance could not be sustained when the Assessing Officer neither rejected the books of accoun...
Income Tax : Despite a significant gap between the agreement and registration dates, ITAT granted relief under the first and second provisos to...
Income Tax : The ITAT Bangalore upheld deduction of ESOP expenditure under Section 37, holding that the liability arising from employee stock o...
Income Tax : The ITAT Delhi held that cash deposits during the demonetization period could not be treated as unexplained credits when they orig...
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...
Learn about Employee Stock Option Schemes (ESOPs), their lifecycle, SEBI regulations, and tax calculations under the Finance Act 2024.
Calcutta High Court grants interim stay on tax demand under Section 73 of CGST Act, citing jurisdictional issues and precedents. Next hearing scheduled for Jan 2025.
Assessee challenged an income tax assessment order under Section 147 read with Section 144. Assessee represented a Hindu Undivided Family (HUF) who was Karta, Mr. M. Subramanian passed away on 15.01.2013.
ITAT Ahmedabad imposed cost of Rs. 5,000 on the assessee due to non-compliance and procedural delay. Accordingly, ex-parte order passed by CIT(A) set aside and matter remitted back to CIT(A).
Madras High Court held that it is settled law that no assessment or reassessment can be made on a dead person. Thus, order against the deceased assessee is liable to be set aside. Accordingly, petition allowed.
Supreme Court held that Rajasthan High Court not justified in dismissing the appeal by considering matter under section 10(20) since it was the case of section 11 and 12 of Income Tax Act. Accordingly, order set aside and remanded back for fresh consideration.
ITAT Mumbai held that validity of notice issued under section 148 of the Income Tax Act for AY 2015-16 is six year which expires on 31.03.2022. Accordingly, notice issued on 29.07.2022 u/s. 148 is barred by limitation.
Despite late filing of Form 67, assessee deserved the credit for taxes paid in Nepal since the provisions of DTAA (in this case DTAA with Nepal) had an overriding effect over other provisions of the Act.
It was felt that the minute details of matching of accounts, working out the exact quantum of turnover from the bank accounts and matching of vouchers with expenses claimed could not be done by this Bench of ITAT.
ITAT order was based on the fact that assessee had discharged its onus to prove the identity and creditworthiness of the share subscribing companies and the genuineness of the transactions.
