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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 : The Tribunal observed that even in ex parte proceedings, the CIT(A) must adjudicate issues through a speaking order. The matter wa...
Income Tax : The ITAT Delhi held that no notional rent could be charged for the period during which unsold commercial units remained stock-in-t...
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 : 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...
Several opportunities were given to petitioner to respond to notices sent by Assessing Officer so no violation of Principles of natural justice
Learn why the TNM method may not be suitable for determining the Arms Length Price (ALP) in capital goods purchase transactions under transfer pricing regulations in India. Understand the legal perspectives and recent case decisions.
PCCIT having their Headquarters at places specified below, to issue orders for exercise of powers & performance of functions by CIT (Appeals)
United Arab Emirates (UAE), Ministry of Finance has introduced the UAE corporate tax vide Federal Decree Law no. 47 of 2022 on the Taxation of Corporations and Businesses with effect from 1st June 2023 providing the legislature framework for Corporate Tax on Business profit in the UAE.
Vikas Sharma Vs ITO (ITAT Mumbai) ITAT held that if the cash deposited in assessee’s bank account has already been taxed in the hands of M/s. Kareem’s Hospitality Pvt. Ltd (employer of assessee) or in the hands of the director of the assessee company Mr. Kareem Dhanani then no addition is warranted in the hands […]
Transindia Freight Services Pvt. Ltd Vs DCIT (ITAT Mumbai) ITAT held that going by the principle of consistency in the stand taken by the Revenue in earlier as well as subsequent assessment years in scrutiny assessment proceedings, we hold that the income received from car rental of Rs.6,00,000/- is to be assessed as “income from […]
Orissa High Court held that cancellation of last pay certificate without clear and unambiguous reasons and not based on any evidence is liable to be quashed.
ITAT Mumbai held that the assessment order passed in variation of the procedures prescribed u/s. 144B of the Income Tax Act would render the assessment order as non est.
ITAT Mumbai held that that the ‘marked to market loss’ is not a notional loss and is, therefore, allowable expenditure.
ITAT Pune held that default in allotting ‘DIN and Order’ results into quashing of the impugned assessment as according to CBDT circular no. 19/2019 dated 14.08.2019 such an order ought to be treated as to have never been issued herein.
