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Income Tax : Most income tax notices involve minor mismatches or routine verification and can be resolved by submitting clarifications or docum...
Income Tax : Explains how gratuity exemptions differ for government, private, and Gratuity Act–covered employees. Key takeaway: exemption is ...
Income Tax : Explains how Section 87A rebate applies only below fixed income limits, while the standard deduction continues to reduce taxable s...
Income Tax : Discover how identifying errors in Assessing Officer jurisdiction, notice issuance, and approval under Sections 148/148A can secur...
Income Tax : Explains the tax treatment and mandatory ITR disclosures for foreign ESOPs, highlighting the need to report shares annually and av...
Income Tax : West Bengal’s ITR filings rose to 52.99 lakh in AY 2024-25, with significant increases in middle- and higher-income brackets. Th...
Income Tax : The CBDT has initiated its second NUDGE campaign, sending reminders to taxpayers with undisclosed foreign assets to ensure accurat...
Income Tax : The C&AG’s audits ensure proper assessment, collection, and allocation of direct taxes, identifying evasion risks and improving ...
Income Tax : The CBI arrests ITAT officials and an advocate in Jaipur for bribery, seizing over Rs. 1 crore and exposing an organized network s...
Income Tax : Delhi ITAT cancels ₹22 crore tax addition based solely on WhatsApp chats from another phone, reaffirming privacy protections and...
Income Tax : The Tribunal held that the assessee proved substantial upgrades to a semi-constructed house using bills and contractor records. It...
Income Tax : The Tribunal held that the assessment was void because jurisdiction shifted between officers without a mandatory transfer order. I...
Income Tax : The Tribunal held that the AO cannot expand a limited scrutiny into full scrutiny without written approval from the Principal CIT....
Income Tax : The Tribunal held that freight amounts collected and passed on to airlines are mere reimbursements, not income. Only the assesseeâ...
Income Tax : Madras High Court held that payment made for International Private Leased Circuits [IPLC] doesn’t constitute royalty within the ...
Income Tax : Government initiatives under PMLA and Black Money Act target undisclosed crypto income, enhancing monitoring, enforcement, and com...
Income Tax : CBDT notifies a State Pollution Control Board as exempt under Section 10(46A), effective AY 2024-25. The decision confirms tax-fre...
Income Tax : A statutory authority has been formally notified for exemption under Section 10(46A) with effect from AY 2024-25. The approval is ...
Income Tax : CBDT notifies tax exemption for a development authority under Section 10(46A), effective from AY 2024-25. The ruling confirms retr...
Income Tax : The government notified a historic temple as eligible under Section 80G due to its cultural significance. Deductions apply only fo...
The ITAT Lucknow quashed the ex-parte appellate orders for AY 2013-14, 2015-16, and 2016-17, ruling that the CIT(A) failed in its statutory duty to pass a speaking order on the appeal merits. The case is remitted for a de novo assessment.
ITAT Mumbai held that a penalty under Section 271(1)(c) was premature when the related quantum appeal was still pending, remitting the matter back for fresh consideration.
PPT provisions inapplicable in absence of separate notification incorporating MLI provisions into India-Ireland tax treaty Background The Mumbai ITAT in Sky High Appeal XLIII Leasing Company Limited v. ACIT (2025) 177 taxmann.com 579 (Mum)/ TS-1085–ITAT-2025(Mum) Â and the Delhi ITAT in Kosi Aviation Leasing Ltd. v. ACIT [ITA No. 994/Del/2025, dated 30-9-2025] have held that operating […]
Supreme Court rulings in Wipro and Shriram Investments mandate strict adherence to return filing deadlines: fresh claims/withdrawals of exemptions (like Sec 10B) via revised returns filed after the original due date are invalid. Appellate authorities retain power to admit new claims.
ITAT Mumbai ruled that gains from rights entitlement transfers are exempt under Article 13(6) of the India-Ireland DTAA because they are distinct from shares, not covered by Article 13(5). The Tribunal also affirmed that short-term capital losses from STT-paid shares can be set off against short-term capital gains from non-STT-paid shares.
ITAT Mumbai quashed a Rs.10 lakh penalty under Black Money Act, ruling that DDIT(Inv.) lacked necessary pecuniary jurisdiction to impose penalties exceeding ₹5 lakh. Decision strictly enforces CBDT guidelines, which reserve penalty proceedings requiring JCIT approval for regular Assessing Officer, deeming DDIT(Inv.) order as being without jurisdiction.
ITAT Chennai deleted additions made in search assessments (u/s 153A), ruling that Income Tax Department cannot make additions without specific, incriminating material seized during search. Following Supreme Courts ruling in Abhisar Buildwell, Tribunal held that search assessments are not fishing expeditions and must be strictly limited to evidence found post-search.
ITAT Delhi deleted a Rs.20.33 crore penalty under Section 271(1)(c), ruling that penalty notice was invalid because it failed to specify exact charge: concealment of income or furnishing inaccurate particulars. Ruling reinforces that an ambiguous, omnibus notice is a jurisdictional defect that vitiates penalty, even if assessment order records satisfaction.
The ITAT Mumbai dismissed appeals under the Black Money Act as withdrawn after the assessee received full relief from the CIT(A), who deleted the additions on the merits of beneficial ownership. Since the Department did not challenge the relief, the assessee chose not to pursue the technical and jurisdictional grounds before the Tribunal.
Ministry of Finance, CBDT, notifies the Karnataka Housing Board for income tax exemption under Section 10(46A) of the Income-tax Act, 1961, effective from Assessment Year 2024-25.
