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Income Tax : The article argues that the daily backup requirement under Rule 46(8) applies only to books maintained in electronic mode, not mer...
Income Tax : Judicial authorities have held that Foreign Tax Credit is a substantive right and cannot be denied merely due to procedural delays...
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 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 Bombay High Court held that reassessment proceedings could not be initiated on the issue of broken period interest when the le...
Income Tax : ITAT Delhi remitted matters relating to sections 12AB and 80G after finding that the impugned orders did not clearly establish whe...
Income Tax : The Tribunal held that interest earned from surplus funds deposited with banks qualifies for deduction under Section 80P(2)(a)(i)....
Income Tax : ITAT Delhi held that professional fees claimed for raising working capital limits could not be fully allowed as the taxpayer faile...
Income Tax : The ITAT Dehradun held that cash turnover in a petrol pump business during demonetisation could not be disregarded entirely. Consi...
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...
ITAT Bangalore held that expenditure towards ESOP is wholly and exclusively for the purpose of business and it satisfies all the conditions referred to in section 37(1). Accordingly, expenditure towards ESOP is eligible for deduction u/s 37 of the Income Tax Act.
Bombay High Court held that reopening of assessment under section 148 in absence of any new information received by AO between the date of assessment order u/s 143(3) till the issuance of notice u/s 148 is unjustified and untenable in law.
As the return filing season for FY 2022-23 (AY 2023-24) would start soon it’s important to understand which forms to be used for filing of the return, as selecting the wrong form may jeopardize the whole exercise of return filing and may have multiple adverse consequences.
UAE Corporate Tax Guide Navigating the New Tax Landscape Essential insights on the implementation, rates, exemptions, and compliance under UAEs Corporate Tax regime effective June 2023.
Held that education cess paid by the respondent-assessee is not allowable as an expenditure under Section 37 read with 40(a)(ii) of the Income Tax Act.
ITAT Delhi held that property sold is to be taxed under Capital gain as the property was held for considerable longer period of time and assessee is not engaged into systemic real estate business activity.
HC quashed section 148 notice issued without sufficient reasons to initiate reassessment proceedings without satisfying conditions precedent under Section 147
Clarifying Warranty Provisions Deduction in IT Act, 1961 Navigate the complexities of claiming deductions for warranty provisions with legal insights.
Gujarat High Court held that interest under section 234B(2A) of the Income Tax Act is payable only on the balance additional tax payable after allowing credit of prepaid tax.
Bombay High Court held that order of Tribunal directed the designated authority to calculate the tax amount applying the ratio of Mohommad Haji Adam & Co case. Designated authority had only to calculate the disputed tax by giving effect to the orders of the Tribunal. Order of Tribunal was not directing fresh examination on any issue.
