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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...
Learn the intricacies of capital gains tax on the sale of agricultural land, including conditions for exemptions and vital action points to ensure compliance and minimize tax liabilities.
Gujarat High Court ruling on Section 148A: Notices issued after 01.04.2021 are time-barred. Details of the Keenara Industries Pvt Ltd Vs ITO case provided.
ITAT Mumbai held that merely because some person misused the share market to rig certain shares in the share market, adverse view against innocent regular investor is unjustifiable and unsustainable in law.
Section 43B of Income Tax Act, 2013 is amended with a new clause (h) in order to provide reliefs made to MSMEs. Section 43B of the Income Tax Act, 2013 provide for any sum paid by the Assessee or Buyer to MSMEs beyond the 45-day time limit which is specified in section 15 of the MSME Development Act. Deduction under section 43B will be allowed only when the payment is actually made to MSMEs.
Learn about Form No. 10BD for charitable trusts with Section 80G registration. Details, due dates, penalties, and procedures for filing and issuing certificates.
ITAT Rajkot held that interest under section 234A and 234B can be levied only up to the date of self-assessment tax paid and not for period beyond that date.
Bombay High Court held that refusal to renew the courier licence registration in international carriage under the Courier Imports and Exports (Clearance) Regulations 1998 without granting an opportunity to explain is unjustified.
ITAT Ahmedabad held that all necessary details and evidences to establish genuineness of the unsecured loans duly furnished by the assessee, accordingly, addition towards the same unsustainable.
The Author in this article discusses the differing views taken by two high courts (exactly opposing views) on the question of limitation as to whether proceedings for AY 2013-14 and AY 2014-15 can be re-opened by issuing notice u/s 148 (deemed to be 148(b) of the Income Tax Act, 1961 [the ITA] from 01-Apr-2021 to 30-Jun-2021. (the Specified Period)).
ITAT Rajkot held that penalty under section 271F of the Income Tax Act not leviable as post search there was delay in providing seized documents. Further, Checking, cross checking and reconciliation of datas was a very lengthy process is also a reasonable cause for non-furnishing of income tax return.
