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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 : The document outlines how MAT and AMT ensure that companies and eligible non-corporate taxpayers pay a minimum level of income tax...
Income Tax : The document clarifies that taxpayers may be liable to pay interest under Section 234D when refunds granted under Section 143(1) e...
Income Tax : The document outlines the circumstances in which taxpayers become liable to pay interest under Sections 234A, 234B, and 234C of th...
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 Tribunal ruled that an assessee who delayed filing an appeal while awaiting disposal of a Section 154 application had shown su...
Income Tax : The Tribunal held that Section 263 cannot be invoked where the assessee never claimed the alleged expenditure as a deduction. With...
Income Tax : ITAT Delhi confirmed disallowance of a Section 80GGC claim after relying on investigation findings that the political party operat...
Income Tax : Mumbai ITAT held that additions under Section 69 cannot survive where transactions are reflected in broker records and the source ...
Income Tax : The Tribunal ruled that proportionate interest disallowance under Section 36(1)(iii) cannot be sustained when the assessee has ade...
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 Jaipur held that disallowance of marketing and survey expenditure merely because of non-production of the concerned party whose identity is proved is unsustainable in law.
The Hon’ble Supreme Court observed that deposit of earnest money as well as balance amount on order of the Trial court shows readiness and willingness on the part of the plaintiff to execute the Contract.
ITAT Hyderabad held that no legal sale of gold can be made with the use of either prohibited currency or prohibited Specified Bank Notes (SBNs)
ITAT Delhi held that payment received from sale of software products/ licenses doesn’t fall in the nature of royalty as per Article 12(3) and as per section 9(1)(vi) and hence the same is not taxable in India.
ITAT Pune held that addition of notional rental not sustainable as the residential assets held in stock-in-trade.
Whether or not the assessee was entitled to a deduction for interest paid on a loan used to purchase a residential home since he had not taken possession of the property
The Draft Common ITR Form by CBDT – learn how it simplifies tax return filing process? Will it really work? Find out more here!
ITAT Kolkata held that addition cannot be made on protective basis in the reopened assessment proceeding as the assessment cannot be reopened for a contingent nature of addition.
ITAT Mumbai held that commodity transactions carried out as regular business transaction cannot be treated as speculative transaction. Accordingly, the loss incurred from the same is treated as normal business loss.
ITAT Chandigarh held that invocation of revisional power under section 263 of the Income Tax Act unjustified once detailed inquiry conducted by AO on the matter.
