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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 : The provisions under Sections 80C, 80D, 80DD, and 80DDB provide tax deductions because taxpayers incur eligible expenses on life i...
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 updated provisions explain how long-term capital gains are classified, computed, and taxed following amendments introduced by ...
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 Delhi ITAT held that electricity charges paid to statutory authorities in the ordinary course of business qualify as deductibl...
Income Tax : The ITAT Bangalore held that additions under Section 68 could not be sustained without proper examination of bank statements, PAN ...
Income Tax : The High Court held that appeals concerning the adequacy of sentence should be presented before the jurisdictional Sessions Court....
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 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...
Held that the mere fact that the assessment order has been passed in a cryptic manner, by itself cannot make the order erroneous or pre-judicial to the interest of Revenue Accordingly revisionary powers under section 263 of the Income Tax Act not invocable.
ITAT Delhi held that expenditure incurred wholly and exclusively towards transfer of shares is allowable transfer expenses as per section 48 of the Income Tax Act.
ITAT Kolkata held that interest u/s 201(1A) of the Income Tax Act for late deposit of TDS amount is not leviable as TDS amount was duly deposited within the due date however, due to technical glitch the bank could not remit the amount immediately to the account of the department.
ITAT Surat held that mere deduction of TDS or mere payment by account payee cheque doesn’t make non-genuine transaction a genuine one.
ITAT Rajkot held that as notices were served to e-mail ID of old income tax practitioner of the assessee, assessee was not aware of the issuance of the same and hence didn’t replied Held that penalty u/s 271(1)(b) of the Income Tax Act cannot be imposed when assessee proves that there was reasonable cause for the failure.
Bombay High Court held that revenue failed to establish that the area of residential units was more than 1000 sq. ft. accordingly deduction under section 80IB(10) of the Income Tax Act duly available.
ITAT Mumbai held that London Inter-Bank Offered Rate (LIBOR) cannot always be the rate at which intra-bank transactions must take place.
ITAT Chandigarh held that the amount of monthly assured return received till the time of possession of units is in nature of interest is taxable @15% under Article 12 of India-UK DTAA
Delhi High Court held that Explanation 2 was inserted in Section 37 via Finance (No.2) Act, 2004 and is effective from 01.04.2015 [from Assessment Year 2015-2016 onwards] Accordingly expenditure incurred towards Corporate Social Responsibility is allowable as deduction u/s 37 of the Income Tax Act.
ITAT Bangalore held that from clause (5) of Guidance Note issued by ICAI that the cost of construction and also saleable project area needs to be taken into account while recognizing revenue under the Percentage Completion Method.
