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Income Tax : Supreme Court held a levy is a fee only when linked to a specific service or benefit. Absence of quid pro quo makes it a tax, rega...
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 : 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...
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 […]
Explore Section 194H of the Income Tax Act, covering TDS on commission and brokerage payments. Understand key features, tax rates, threshold limits, and obligations of deductors. Delve into relevant case laws for comprehensive insights into the application of Section 194H.
RK Gupta And Son HUF Vs ITO (Delhi High Court) HC held that notice dated 19.05.2022 issued under Section 148A(b) of the Income Tax Act, 1961 shows, that a survey report was generated vis-à-vis Varun Capital Services Ltd. The said communication also alludes to the fact that assessee had entered into share transaction with Kisna […]
PCIT Vs Padma Kumar Jain (Jharkhand High Court) Section 263 revision initiated by CIT second time to cancelling non existing original assessment order isn’t tenable: PCIT v. Padma Kumar Jain – [2022] (Jharkhand) A search and seizure operation was conducted by the Assessing Officer (AO) in the business and residential premises of the assessee-individual. After […]
Understand the intricacies of gold wastage in ornament creation and its tax implications in the case of P.R. Gold and Silver Craft v. DCIT. Delve into the Chennai Tribunals ruling on treating gold wastage as making charges and the applicability of TDS under Section 194C. Gain insights for your business.
Marvelore Mining & Allied Industries Pvt. Ltd. Vs ITO (ITAT Surat) Sec. 41(1) can’t be invoked for liability against purchase of defective machinery that was never put to use: Marvelore Mining & Allied Industries (P.) Ltd. v. ITO – [2023] (Surat-Trib.) Assessee was a private limited company. It was engaged in the business of Calcium […]
Explore the Calcutta High Court’s decision in PCIT v. Soorajmul Nagarmull, emphasizing the allowance of time-barred appeals involving substantial questions of law. Gain insights into the case and its implications.
Section 273B of the Act, squarely applies and since assessee has a reasonable cause for not getting books of account audited, he should not be visited by penalty u/s 271B
Unable to file ITR for FY 2022-23? Learn why and get insights on when to file, updated ITR forms, and the importance of timely income tax return submissions for accountability and financial transactions. Stay informed for a smooth tax-filing process.
PCIT (Exemption) Vs Bishandayal Jewellers (Orissa High Court) Before the CIT(A), the Assessee claimed that the Assessing Officer (AO) had not given copies of the seized materials extracted from the hard disk and the pen drive. The CIT( A) called for a remand report from the AO. By the time, the remand report could be […]
