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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...
Explore the implications of the Finance Act 2023 amendment under Section 43B of the Income Tax Act, affecting deductions for payments to MSMEs. Learn the impact on tax planning and compliance.
In the case of J. Kishorekumar Vs ITO, Madras High Court examines tax notices issued to deceased assessee’s legal representative, offering detailed insights into legal implications and proceedings.
ITAT Cochin held that benefit of deduction of 7.5% of the total income is available to co-operative banks under clause (viia) of section 36(1) of the Income Tax Act.
ITAT Hyderabad held that non-generation/ non-quoting of Document Identification Number (DIN) in the order will render the order invalid and will be treated as never to have been issued.
Gujarat High Court held that in case reopening of assessment based on material which satisfied to harbour reasons to believe that there was escapement of income, then, such reopening of assessment is justifiable.
ITAT Mumbai held that the Maharashtra State Board of Technical Education (MSBTE) would fall under the definition of state as per Article 12 of the Constitution of India.
ITAT Delhi held that assessment order passed on non-existing entity (dissolved company) is liable to be quashed as the Assessing Officer has the knowledge of the dissolution of the company.
Explore G20 Taxation, European Unions efforts against tax avoidance, and the impact of BEPS in 2023. Understand the latest global tax initiatives, including the OECD/G20 Inclusive Framework on BEPS, and how multinational enterprises are subject to a 15% effective minimum tax rate. Stay informed about the Pillar Two GloBE Rules, Safe Harbours, Penalty Relief, GloBE Information Return, and Tax Certainty.
Explore the intricacies of capital gains on Joint Development Agreements (JDAs) and the exemption under Section 54 of the Income Tax Act. Learn how to calculate capital gains, conditions for exemption, and the benefits it offers to landowners. Make informed decisions with insights from tax professionals. Read now
ITAT find from assessment order that there has been no abnormal cash deposit and assessment order is based on estimation and strange logic and without any legal basis and hence, held to be legally invalid.
