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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 Bangalore held that no exemption has been claimed by the assessee in the preceding year as application of income on the purchase of fixed assets. Accordingly, addition doesnot survive.
ITAT Ahmedabad held that as per provisions of section 10 General Clause Act, if last working day happens to be a holiday then the authorities concerned have been given power to make the necessary compliance on the next working day.
Madras High Court held that the re-assessment proceedings initiated by the assessing officer beyond four years from the end of the relevant assessment year is legally impermissible.
ITAT Delhi held that expense on Social & Rural Development Programme are revenue in nature, accordingly, allowable under section 37
ITAT Hyderabad held that addition under section 56(2)(viib) of the Income Tax Act sustained as method adopted for determination of FMV of equity shares by the assessee is not as per method prescribed under rule 11UA of Income Tax Rules.
Notification No. 22/2023- Income Tax Dated : 17th April, 2023 – Central Government notifies amendment in notification related to exemption under section 10(46) of Income Tax Act, 1961 to ‘Maharashtra Electricity Regulatory Commission’, Mumbai, a commission established by the State Government of Maharashtra. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification […]
ITAT Mumbai held that reopening of assessment unsustainable as there is no satisfaction of the competent authority before issuance of notice under section 148 of the Income Tax Act.
ITAT Mumbai held that once it is established that the funds are used wholly and exclusively for the purpose of business interest paid on such borrowed funds is allowed u/s. 36(1)(iii) of the Income Tax Act.
ITAT Delhi held that expenditure towards clinical trial incurred solely and exclusively for the business purpose is allowable expenditure.
DCIT Vs British Agro Products (India) Pvt. Ltd. (ITAT Chennai) Mushrooms grown under controlled conditions constitutes ‘Agricultural Activity’, exemption from tax : – [DCIT v. British Agro Products (India) Pvt. Ltd. (05.04.2023) ITAT Chennai Chennai ITAT dismisses Revenue’s appeal, holds that cultivation and sale of white button mushrooms is an ‘agricultural activity’ and income derived […]
