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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...
Addl. CIT Vs Tejal Ashish Mehta (ITAT Mumbai) The assessee has furnished a copy of Income Tax return for assessment year 2016-17. A perusal of the same shows that in Schedule – EI, wherein the assessee was required to declare exempt income, the assessee has duly reflected the maturity value of the insurance policy. The […]
ITAT Chennai held that addition u/s 69 towards unexplained money sustained on failure to explain the source of the cash deposits with necessary evidences.
Kapil Kumar Agarwal Vs DCIT (ITAT Delhi) ITAT held that assessee has purchased a house property i.e. a new asset and is entitled to exemption u/s 54F of the act despite the fact that construction activities of the purchase of the new house has started before the date of sale of the original asset which […]
PCIT Vs Abhisar Buildwell P. LTD. (Supreme Court of India) Clarification application file by Revenue on issue of permitting 148 notice dismissed by Supreme Court with liberty to Revenue to file Review application. Further in case such review application is filed it will be heard in open court . We observe that as we have […]
Shri Keshoraipatan Sahkari Sugar Mills Ltd. Vs PCIT (ITAT Jaipur) We find that the assessment was taken up for scrutiny under CASS to examine the deduction claimed chapter VIA for limited purpose and on this issue, there is finding of the ld. AO in the assessment order. Yet, learned PCIT has subjected the assessment order […]
Voluntary Income declared by assessee on its own i.e. without any detection cannot be considered as equivalent to providing inaccurate particulars of income or concealing particulars of Income
Jagdish Chandra Suwalka Vs JCIT (ITAT Jaipur) ITAT observed that the provisions contained u/s 275(1)(a)are not applicable on the facts of present case for the reason that undisputedly no appeal has been filed against the assessment order passed on 28.12.2017. Therefore, it cannot be said that the relevant assessment or other order was subjected to […]
ITAT ruled that capital gains on sale of unlisted shares by a non-resident must be computed strictly as per Section 112(1)(c)(iii) of Income Tax Act without considering computation provisions under Section 48.
mere non-disclosure of agricultural income in the return of income does not change the characteristics of land. Subsequent use of land by the purchaser has no connection to decide the nature of land, whether it is an agricultural land.
Explore Capital Gain Tax Exemption rules on property transactions with illustrative examples, legal decisions, and statutory provisions. Understand the nuances of claiming exemptions under sections 54 and 54F of the Income Tax Act based on the date of purchase, possession, or construction. Get insights into specific legal decisions and learn about the factors affecting eligibility for exemptions.
