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Income Tax : The article explains how accurate Form 10BD reporting protects donor deduction claims, prevents penalties, and ensures consistency...
Income Tax : The article explains what remains unchanged under the new tax law while highlighting critical compliance checks taxpayers should u...
Income Tax : AO rejects books of accounts and applies flat net profit rate. Can taxpayer claim depreciation separately or is it embedded in tha...
Income Tax : The article highlights common return filing errors, including wrong ITR forms and income mismatches, that can result in defective ...
Income Tax : The ITAT Bangalore held that no disallowance under section 14A read with Rule 8D can be made where the assessee did not earn exemp...
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 Hyderabad ITAT observed that if a property is treated as stock-in-trade, the applicability of Section 43CA cannot be ignored. ...
Income Tax : The Tribunal quashed the reassessment after finding that the Assessing Officer failed to issue notice under Section 143(2). The de...
Income Tax : The Tribunal quashed the reassessment after finding that the assessee had already filed the return under Section 139 before issuan...
Income Tax : The Tribunal ruled that the Revenue cannot assess the full transaction value in the hands of a confirming party absent proof of be...
Income Tax : ITAT deleted the addition after finding that neither possession nor ownership had passed during the relevant assessment year. The ...
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...
Understand the tax treatment of ESOPs: ESOP expenses can be deducted if incurred for employees’ benefit, as affirmed by various court cases.
ITAT Delhi held that the provisions of a DTAA (Double Taxation Avoidance Agreement) supersedes the provisions of the income tax Act in case their application is more beneficial.
ITAT Hyderabad restore the issue to file of CIT(A)-NFAC as non-appearance before CIT(A)-NFAC due to unavoidable circumstance. Further, due to continuous non-compliance to the statutory notices issued by CIT(A)-NFAC, cost of INR 10,000 imposed to be paid to PM’s Relief Fund.
ITAT Chennai held that as cash deposited by assessee received from petty shop owners on account of sale of its product during demonetization period was not examined by AO during assessment. Accordingly, PCIT rightly passed revision order u/s 263 directing AO to carry out necessary verification.
ITAT Jaipur held that disallowance of expenses per se cannot mean that the assessee has furnished incorrect particulars of income. Accordingly, penalty under section 271(1)(c) of the Income Tax Act not leviable.
ITAT Hyderabad held that penalty under section 271(1)(c) of Income tax Act cannot be cancelled merely because of non-specification of limb i.e., for concealment of income or furnishing inaccurate particular of income under which penalty is levied.
Orissa High Court held that while exercising suo motu revisional power u/s. 263 of the Act, the CIT cannot travel beyond the scope of the issues which form part of the ‘limited scrutiny’ in the original Assessment Order.
Learn about the recent communication from the Income Tax Department regarding high-value transactions for previous and current financial years. Understand how to respond to the Annual Information Statement (AIS) and the consequences of not providing a timely reply.
Discover the various work structures of expatriates in India and their tax implications. Learn about business visits, short-term and medium-long term assignments, permanent relocation, and consulting roles.
Learn how to register as a legal heir on the Income Tax portal and file returns for a deceased person. Follow these steps and ensure compliance with tax obligations.
