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Income Tax : The note highlights gaps in existing tax provisions affecting families, seniors, and small investors. It suggests targeted reforms...
Income Tax : Disallowance made in an ex parte order was overturned after evidence showed a clear borrowing-to-lending link. The ruling affirms ...
Income Tax : The issue was prolonged misuse of correction statements due to no statutory deadline. The law now enforces strict timelines, makin...
Income Tax : Businesses are seeking a cap on dividend taxation for resident shareholders to address double taxation concerns. The proposal aim...
Income Tax : ITAT held that execution of a registered joint development agreement amounts to transfer of land. Capital gains timing must be det...
Income Tax : Following judicial criticism of delayed appeals, officers urged structural reforms to fix institutional gaps rather than penalisin...
Income Tax : With repeated technical failures hampering compliance, officers requested formal absolution from blame. The letter emphasizes coll...
Income Tax : Net direct tax collections recorded an 8.82% increase despite moderate gross growth. Lower refunds played a key role in boosting n...
Income Tax : The issue concerns high-pitched additions proposed under faceless scrutiny even where agricultural income is exempt and fully docu...
Income Tax : Authorities cannot insist on adding an irrevocable clause in trust deeds for Section 12A renewal when the trust is otherwise legal...
Income Tax : The tribunal held that revision under Section 263 is invalid where the Assessing Officer has examined the issue and adopted a plau...
Income Tax : The tribunal ruled that statements of third parties cannot be relied upon unless the assessee is provided copies and allowed cross...
Income Tax : ITAT Delhi held that day of arrival should be excluded while computing number of stayed in India. Accordingly, the status of asses...
Income Tax : The Tribunal confirmed deletion of additions where the AO made no effort to verify consignees, transporters, or stock movement. Pr...
Income Tax : ITAT Ahmedabad held that addition made on the basis of third-party WhatsApp chat without any incriminating material is unsustainab...
Income Tax : The government has granted time-bound approval under section 35(1)(ii) enabling eligible donations to scientific research to quali...
Income Tax : The notification exempts defined categories of income of a legal services authority, while warning that violations may lead to pen...
Income Tax : The government has approved an institution for scientific research under section 35(1)(ii), enabling donors to claim tax deduction...
Income Tax : The notification exempts specified non-commercial e-governance income such as government grants, service charges, and consultancy ...
Income Tax : The government has granted Section 10(46) tax exemption to a welfare board for cess, fees, and interest income. The relief applies...
The Court held that prolonged suspension of trustees, sealed records, and administrator control constituted genuine cause for delayed filings. The delay for six assessment years was condoned and the returns ordered to be processed as filed on time.
Highlights how the Court ruled that consistent operational control and strategic oversight in India can establish a Fixed Place PE under the DTAA, even without exclusive offices. Key takeaway: substance and economic activity override formal ownership.
Tribunal quashed penalty where AO’s addition for alleged bogus purchases was purely estimated, emphasizing that penalties require concrete evidence of income concealment.
ITAT Delhi held that a reassessment notice issued three years after the relevant AY is invalid if the alleged escaped income is below ₹50 lakh, reinforcing the statutory threshold protection.
ITAT condoned delay as assessee learned of assessment only after bank account attachment, emphasizing the violation of natural justice. Key takeaway: Ex-parte orders require proper notice before dismissal.
The appeal was allowed as the notice under section 148 was sanctioned by an authority not competent under law. All proceedings following the invalid notice were held void-ab-initio. The ruling highlights the necessity of proper sanction for reopening assessments beyond three years.
The Tribunal allowed sales commission payments to family members engaged in company operations, deleting disallowances. The ruling emphasizes that commission need not be tied to individual sales but to services rendered. It sets a precedent for assessing commission to related parties in business operations.
Tribunal overruled CIT(A), following Madras High Court precedent, and treated proceeds from sale of Silver Oak trees as agricultural income. Human cultivation, not wild growth, defines agricultural income.
ITAT set aside dismissal due to delay, restoring appeal to ensure proper examination of disputed additions. Appellate authority must provide speaking orders considering all submissions.
Court held that an income tax assessment issued after the assessee’s death is null and void, emphasizing the legal heir’s right to contest the order.
