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Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
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 Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
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...
The issue was whether reassessment was valid without proper service of mandatory notice under Section 143(2). The Tribunal remanded the case for fresh examination, holding that the jurisdictional issue requires reconsideration.
The tribunal held that government support includes capital grants, land, and infrastructure, not just recurring funding. This broader interpretation justified exemption eligibility.
The issue was whether delay in filing appeals could be condoned. The Court held that lack of sufficient cause and negligence justified rejection of the delay application.
The tribunal examined whether surcharge applies to private discretionary trusts taxed at maximum marginal rate. It held that surcharge is not applicable where income is below ₹50 lakh, as per Finance Act thresholds.
The Tribunal ruled that interest earned from mandatory bank deposits by a co-operative credit society qualifies as business income and is eligible for deduction under Section 80P.
The issue was whether telecom interconnect charges qualify as royalty. The Supreme Court upheld the High Court view that such payments are not taxable as royalty.
The issue was whether telecom interconnect charges qualify as royalty. The Court held they do not, relying on earlier precedent and dismissed the Revenue’s appeal.
The Court upheld rejection of condonation where delay exceeded 365 days under CBDT Circular. It clarified that Commissioners lack authority beyond this limit but relief may be sought from CBDT.
ITAT held that delay in submitting Form 10B is procedural and can be condoned. It directed reconsideration of exemption where the audit report was filed during appellate proceedings.
The concept of a Lower Deduction Certificate (LDC) continues under the Income-tax Act, 2025 with no major policy change from the Income-tax Act, 1961. Under Section 395 of the new Act (corresponding to Section 197 of the old Act), a taxpayer can apply to the Assessing Officer for deduction of tax at a lower rate […]
