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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...
As you are all aware, our government is urging us to link our PAN cards and Aadhaar cards. In order to enforce some strictness in this matter, they set a deadline of March 31, 2023 (which has been extended to June 30, 2023) for doing so.
Explore the amendments to Section 115BAC by the Finance Act, 2023. Get insights into the rebate for individuals opting for the new tax scheme and changes in maximum exemption limits, deductions, surcharge rates, and tax slabs. Stay informed for A.Y. 2024-25 and beyond.
Bombay High Court held that reassessment proceedings u/s. 148 of the Income Tax Act is liable to be quashed and set aside as original assessment was completed after considering all the facts and material.
It is seen in a number of cases that notices u/s 148A(b) are being issued on the basis of report of Investigation Wing of Income Tax Department, the Income Tax Officers hardly make any independent enquiry and thus relies on the report of Investigation Wing. This is called ‘borrowed satisfaction’ and an assessment order culminated on the basis of borrowed satisfaction can’t survive the test of appeal and shall be set aside at some stage in appeal.
The profit margin forgone by assessee could not be held to be expenditure in creating intangible or goodwill as there was no expenditure incurred by assessee except those that were set out in the profit and loss account and disallowing such expenditure by AO and consequently arriving at a positive total income chargeable to tax was without any basis and not in accordance with law.
ITAT Delhi held that the deduction u/s 36(1)(va) of the Income Tax Act can be allowed only if the employees’ share in the provident fund and ESI fund is deposited by the employer before the due date stipulated in respective Acts.
Admittedly, if a search is conducted by applying Section 153A of the Income Tax Act, there should be a specific authorization. In the instant case, admittedly, there is no warrant authorization to conduct search as per Section 132 of the Income Tax Act on the petitioner.
Oyo Hotels And Homes Private Limited Vs DCIT/ACIT (Delhi High Court) The grievance of the petitioner, which is also obvious, is that the Commissioner of Income Tax (CIT) has not dealt with its application, preferred before him, in respect of the order dated 01.02.2023 passed by the Assessing Officer (AO) under Section 220(6) of the […]
despite remedy of an Appeal under Section 78 of the OVAT Act being available to the Department against the order of the Appellate Authority in favour of the Assessee, the Commissioner could have exercised suo motu revisional power under Section 79(1) of the OVAT Act
AO observed that the assessee deposited cash of Rs.17.00 lakh in his bank account on different dates during the demonetization period.
