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Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
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 : The Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
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 case involved reopening of assessment based on issues already examined during scrutiny. The Court held that reassessment without new material is invalid. It ruled that reopening on the same facts amounts to impermissible action.
Tribunal held that once income is computed under section 44AD using stamp duty value as turnover, a separate addition under section 43CA leads to double taxation and is not permissible.
The case involved denial of deduction on interest earned from cooperative bank deposits. The Tribunal held that such income qualifies for deduction as it is derived from investments with a cooperative society.
Critical assumptions define the conditions under which APA pricing remains valid and reliable. The key takeaway is that any material change can invalidate the agreement and require revision.
Section 145(3) allows rejection of books if accounts are unreliable or standards are not followed. The key takeaway is that specific defects must be identified before invoking this power.
The tribunal held that reopening of assessment was invalid due to invocation of the wrong Explanation under Section 147 despite a completed assessment under Section 143(3).
The issue was whether delay of 18 months could be rejected without proper opportunity. The ITAT held that fair hearing is essential and remanded the matter for reconsideration of delay with supporting evidence.
The issue was whether the assessment order could be revised for lack of inquiry. The Tribunal held that since the Assessing Officer had examined the issues and taken a view, revision under Section 263 was not justified.
The Court examined whether additions based on a seized document were valid. It held that lack of investigation and inconsistencies rendered the additions unsustainable.
The issue was whether delay in filing appeal without strong documentary proof should be condoned. The ITAT held that when sufficient cause exists, delay must be liberally condoned to ensure justice and hearing on merits.
