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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 : 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 : ITAT remanded the case as NFAC passed an ex parte order despite notice issues and held that a combined reassessment and ITAT effec...
Income Tax : ITAT Delhi held that interest expenditure cannot be disallowed without establishing a nexus between borrowed funds and non-busines...
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 Court held that while the assessees reply period had to be excluded under Section 149, the Assessing Officer still failed to issue the Section 148 notice within the extended statutory timeline. The reassessment notice was therefore quashed as time-barred.
The Karnataka High Court ruled that appellate authorities are empowered to entertain claims not made before the Assessing Officer. The absence of a revised return did not bar consideration of the claim.
ITAT Chandigarh held that compensation received on termination of employment due to retrenchment was a capital receipt. The Tribunal ruled that no part of the compensation was taxable.
The Court held that compensation paid to workmen under a Government-approved closure package was exempt under the second proviso to Section 10(10B). TDS could not be deducted on the amount.
ITAT Chandigarh held that compensation received under the HMT Tractor Division closure package qualified for exemption under Section 10(10B). The Tribunal treated the payment as closure-related compensation rather than ordinary voluntary retirement compensation.
The Rajasthan High Court held that notices issued under Section 148A to a deceased person are a nullity. However, the Department was allowed to reinitiate proceedings against legal representatives in accordance with law.
The Rajasthan High Court held that reassessment proceedings against legal representatives of a deceased assessee must comply with Section 148A(b). Notices and orders issued without following the mandatory procedure were quashed.
The Bombay High Court upheld the Tribunal’s view that a reference under Section 55A was invalid where the assessee’s valuation was higher than the fair market value. The appeal was dismissed as no question of law arose.
The Bombay High Court held that a DVO reference under Section 55A was invalid because the assessee’s declared value was higher than the fair market value. The ruling reiterates the scope of Section 55A as it existed before the 2012 amendment.
The Department maintained that search powers could be exercised where there was reason to believe that relevant documents and undisclosed assets were being kept at the premises. The matter involved both personal and third-party records.
