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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 Mumbai held that the assessment order passed in the name of non-existing entity will not survive. Accordingly, the assessment order is liable to be quashed and set aside.
ITAT Delhi held that addition on account of trading loss on sale of tools and dies unsustainable as the loss was incurred for sustainable and longer partnership and the same has given rise to generation of profits in subsequent years.
ITAT Lucknow held that amount of disallowance of expenditure, on presumption of leakage in the form of expenditure of personal nature, reduced as found that total amount of disallowance by lower authority was excessive and unreasonably high.
ITAT Delhi held that addition towards unexplained cash credit under section 68 of the Income Tax Act unsustainable as nature and source of credit duly explained by the assessee.
ITAT Mumbai held that addition of unexplained investment u/s 68 sustained as genuineness of transaction in shares not proved. Further, SEBI also found manipulative trade executed in entities to whom shares were sold by the assessee.
Read analysis of ITAT judgment in Saraswati Gupta vs. ITO case confirming penalties under sections 271A and 271B for not maintaining and auditing books of account. Learn about the outcome and reasoning.
Understand the income tax rules for individuals departing India. Learn about the forms and procedures for obtaining tax clearance and no objection certificates. Find out the necessary information for domiciled and non-domiciled individuals.
ITAT Mumbai held that expenditure claimed by the assessee relating to earning of only exempt income is not allowable as deduction. Accordingly, the whole expenditure incurred for earing exempt income cannot be allowed to carryforward.
ITAT Delhi held that there is no justification of adopting lower Fair Market Value (FMV) merely on the basis of DVO report as DVO has failed to consider the specific features of the property commanding higher value.
ITAT Mumbai held that since the impugned MTM loss was duly reversed in the subsequent year and offered to tax, revisionary proceedings invoked under section 263 of the Income Tax Act cannot be sustained as there is no prejudice to the revenue.
