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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 : 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 : ITAT remanded the case as NFAC passed an ex parte order despite notice issues and held that a combined reassessment and ITAT effec...
Income Tax : ITAT Delhi held that interest expenditure cannot be disallowed without establishing a nexus between borrowed funds and non-busines...
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 Court held that the matter was already settled by an earlier decision on identical facts. It extended the same relief, emphasizing consistency in judicial rulings.
The Court held that electricity duty collected by a licensee is not its own liability but that of consumers. As a result, Section 43B was found inapplicable and the disallowance was rightly deleted.
The Court held that input tax credit cannot be denied solely because the selling dealer failed to deposit tax without examining the genuineness of transactions. The matter was remanded for reconsideration of whether the assessee discharged its burden of proof.
The SC refused to interfere where the High Court had quashed reassessment based on binding precedents. It held that no ground existed to reopen findings already settled by earlier rulings.
The Court quashed all notices and orders as the matter was identical to earlier decisions. It ruled that consistency with precedent requires setting aside such proceedings.
The Tribunal held that the CIT(A) improperly admitted additional evidence without satisfying Rule 46A conditions or recording reasons. It emphasized that procedural compliance is mandatory and failure to follow it invalidates the relief granted.*
The 30% Disallowance Trap in Section 35(b) of the Income Tax Act, 2025: When a Wrong TDS Payment Code Under Section 393 Triggers Full Business Expenditure Disallowance — The Code 1026 vs. Code 1027 Paradox The Income Tax Act, 2025, effective from 1st April 2026, consolidates all non-salary TDS obligations into a single Section 393, […]
Premiums are deductible as business expenses, but proceeds are fully taxable. Assignment may trigger salary taxation, making careful planning essential.
The distinction between slump sale and itemised asset sale determines how capital gains are taxed. A true slump sale applies Section 50B, while asset-wise transfers follow normal tax provisions.
The new circular allows flexible DIN referencing instead of strict quoting. However, it does not validate cases with complete absence of DIN or jurisdictional defects.
