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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...
The appeal involves eligibility of an educational institution for exemption under section 10(23C)(iiiab) of Income Tax Act. It is observed that educational institution in question is substantially financed and meets criteria for exemption under section 10(23C)(iiiab) of Income Tax Act.
Assessees must thoroughly discharge initial onus under section 68. Until assessee does so, AO is under no obligation to conduct further inquiries.
ITAT Kolkata nullified addition due to late issuance of Notice under Section 143(2) of Income Tax Act. ITAT concluded that Notice was sent beyond specified deadline, making assessment void ab initio.
ITAT Ahmedabad’s decision in case of ONGC Employees Co-op Credit & Thrift Society Limited Vs ITO, provides insight into exemption of interest income under Section 80P(2)(a)(i) of Income Tax Act.
ITAT Bangalore held that if the net profit margin meets the Arm’s length price, then no separate addition needs to be made. Accordingly, TPO directed to delete the adjustment made towards Advertising Marketing Price (AMP) expenses.
ITAT’s ruling affirms that a Co-operative Society can claim deductions for the interest income derived from a Fixed Deposit Receipt (FDR) with a Co-operative Bank.
ITAT Ahmedabad in Sureshbhai Ashwinbhai Patel Vs ITO clarified that complete sale consideration from such a property cannot be attributed as capital gain of a single co-owner.
Rule 8(1) states that income from business of tea growing & manufacturing is computed as 40% of total income determined under Income Tax Act
A penalty of was levied under section 271FA of Income Tax Act, 1961. The assessee’s subsequent appeal, stating that SFT was filed when e-filing portal was available, lacked supporting evidence and hence did not hold in court.
Vinit Kumar Vs DCIT – ITAT Delhi clarified the application of Section 56(2)(vii) on properties purchased for more than the circle rate.
