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Income Tax : Companies renting residential properties often struggle with choosing between 2% and 10% TDS. The key takeaway is that the correct...
Income Tax : Bangalore ITAT held that the Revenue cannot deny the fifth-year deduction under Section 35D after consistently allowing the claim ...
Income Tax : The Income-tax Act, 2025 continues the old specified professions framework without addressing longstanding classification issues. ...
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 : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
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 : Mumbai ITAT held that payments from accumulated income to institutions registered under Section 12AA attracted Section 11(3)(d). T...
Income Tax : Mumbai ITAT held that the Revenue could not attribute the entire execution revenue from cross-border deals to the Indian PE withou...
Income Tax : Mumbai ITAT held that maintenance charges and other collections received exclusively from members of a co-operative society are ex...
Income Tax : ITAT Mumbai ruled that additions under Section 69 cannot be sustained merely on suspicion when the entire property investment is s...
Income Tax : The Tribunal ruled that information from the Sales Tax Department and generic statements of alleged hawala dealers are insufficien...
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 Ahmedabad held that payment of cash towards purchase of land exceeding the prescribed limit is duly disallowed under section 40A(3) of the Income Tax Act.
ITAT Ahmedabad held that tax deduction at source doesn’t apply to service which are neither availed nor rendered and not even utilized in India. Accordingly, disallowance u/s 40(a)(ia) unjustified.
ITAT Ahmedabad held that on execution of agreement when the possession was also handed over, the transfer within the meaning of section 2(47)(v) and (vi) was complete and accordingly capital gain provisions gets applicable.
ITAT Mumbai held that in case of company is involved in providing illicit LTCG/ short term capital loss (accommodation entries), a substantial addition has to be made in the hands of beneficiaries and only a protective assessment can be made in the hands of company providing such accommodation entries.
Jharkhand High Court held that once penalty order is set aside, it will be presumed that there is no concealment and hence prosecution under Section 276C(1) of the Income Tax Act will be quashed automatically.
ITAT Delhi held that attribution of profit from offshore supply and services to the Permanent Establishment unsustainable as assessee didn’t have any Permanent Establishment in India in the assessment years under dispute.
In this blog, we will discuss provisions relevant with taxation of gifts in the hands of individual. First of all, receiver must ensure that gift is from genuine source and is not involving any black money and proceeds of crime.
Assessing Officer’s claims on the irregularity of additional salary payments are unfounded, says ITAT. When payments are made via cheque and duly recorded, there’s no reason to treat them as ‘outside the books.’ The assessee provided evidence that these are year-end calculations, not fictitious transactions. The additional salaries are legitimate and shouldn’t be interpolated for 12 months.
KSCAA Representation regarding adjustments (over and above 20% of disputed demand) by CPC despite assessments pending before first appellate authority
Latest updates in RPU Version 4.7 for Regular & Correction quarterly e-TDS/TCS statements starting FY 2023-24. Discover key features and changes in Form 24Q, 26Q, 27Q, and 27EQ.
