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Income Tax : The article explains how accurate Form 10BD reporting protects donor deduction claims, prevents penalties, and ensures consistency...
Income Tax : The article explains what remains unchanged under the new tax law while highlighting critical compliance checks taxpayers should u...
Income Tax : AO rejects books of accounts and applies flat net profit rate. Can taxpayer claim depreciation separately or is it embedded in tha...
Income Tax : The article highlights common return filing errors, including wrong ITR forms and income mismatches, that can result in defective ...
Income Tax : The ITAT Bangalore held that no disallowance under section 14A read with Rule 8D can be made where the assessee did not earn exemp...
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 Court held that transferring assessment proceedings under Section 127 was justified to facilitate coordinated investigation in...
Income Tax : The Court held that transfer of assessment proceedings to Delhi was justified where connected cases had already been centralized f...
Income Tax : The Hyderabad Bench emphasized that penalty under Section 271(1)(c) cannot be imposed solely because an addition survives appellat...
Income Tax : The Hyderabad ITAT observed that if a property is treated as stock-in-trade, the applicability of Section 43CA cannot be ignored. ...
Income Tax : The Tribunal quashed the reassessment after finding that the Assessing Officer failed to issue notice under Section 143(2). The de...
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 about a Gujarat High Court case on reopening of income tax re-assessment proceedings under the Finance Act 2021. Analysis of 4 Recent Important Income Tax Case laws
No ad hoc addition for bogus purchases should be made. Addition should be made to the extent of difference between gross profit rate on genuine purchases and GP rate on hawala purchases
Sureshkumar K Kataria Vs DCIT (ITAT Rajkot) ITAT notes that there was mismatch in the gross income reported by the assessee viz a viz the income reflecting in form 26AS for an amount of Rs. 4,13,081.00 only. As such, the assessee has shown less income by the impugned amount, therefore concurrent view was taken by […]
Shivdham Industries P. Ltd Vs DCIT (ITAT Guwahati) It has been stated before us by the ld. Counsel for the assessee that in the return of income filed in Form no. ITR-6 in Schedule CFL, the assessee has furnished ‘details of loss to be carried forward to future years’ totaling to Rs. 82,89,050/- which included […]
Red Chilli International Sales Vs ITO (Supreme Court of India) We with the petitioner that the impugned judgment rejecting the writ petition on the ground of alternative remedy does not take into consideration several judgments of this Court, on the jurisdiction of High Court, as writ petitions have been entertained to be examined whether the […]
ITAT held that transfer of PAN is consequential to Order of transfer of jurisdiction & that it is a PAN, which follows jurisdiction & not vice versa
Shail Jayesh Shah Vs ITO (ITAT Mumbai) From the copy of the bank statement of Kotak Mahindra Bank, we find that assessee had deposited Rs.6 lakh in cash in 600 old currency notes of Rs. 1000 denomination on 01/12/2016. At a glance, it may appear that since the assessee had sufficient cash in hand amounting […]
Machine Tools India Ltd. Vs ACIT (ITAT Kolkata) CBDT has issued instruction from time to time to the AO’s qua the manner of processing the return and giving TDS credit. Delhi High Court in the case of Own Motion and Ors. Vs. CIT & Ors. In [2013] 352 ITR 273 (Delhi) issued seven mandamuses for […]
Hemendra Lilachand Shah Vs ITO (ITAT Ahmedabad) ITAT noted that requirement of filing appeal before the learned CIT (A) in electronic form was new. The assessee being individual filed appeal before CIT(A) within time limit but in paper dated 18th April 2016 instead of filing online as required by the CBDT notification dated 1st March […]
Ajnara India Ltd. Vs ITO (ITAT Delhi) It is observed that the Ld. CIT(A) examined the Lease Deed Agreement between the assessee and NOIDA Authority filed before him during the appellate proceedings and extracted the relevant recitals in para 4.8 and 4.9 of his order to reach the conclusion that reading of Lease Deed Agreement, […]
