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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 Tribunal held that once the High Court had already quashed the original assessment for violating the IBC resolution plan, the PCIT’s section 263 revision could not survive. Since a revision must rest on a valid assessment order, the entire 263 action became void. The appeals were allowed and the revision orders were cancelled.
The ITAT held that a reassessment notice issued manually by the JAO violates the mandatory Faceless Assessment Scheme. The Tribunal ruled that any Section 148 or 148A notice must originate only from the faceless system, making the JAO-issued notice invalid.
ITAT held that Section 69 cannot apply when the assessee is not proved to own the cash. Unrebutted affidavits established the source, and mere suspicion cannot justify an addition.
Tribunal held that an investment already assessed substantively in another person’s hands cannot again be taxed under Section 69. The case was remanded to avoid double taxation and ensure consistent adjudication.
The Tribunal held that rejecting an application solely for delayed filing was improper and directed a denovo review under Section 80G. The is that delayed applications may still be examined on merits.
Tribunal held that a reassessment cannot be triggered solely on another person’s search statement. With no evidence against the assessee, the 147 proceedings and bogus-purchase addition were struck down.
NFAC’s ex-parte dismissal of large 54F claim overturned due to procedural lapses and miscommunication. Assessee granted fresh opportunity to substantiate ₹3.10 Cr exemption claim.
The Tribunal held that cash deposits were fully explained through matching earlier withdrawals. The addition of ₹15 lakh was removed as the source of funds was satisfactorily proven.
The Tribunal held that book profit on sale of a motor vehicle cannot be taxed separately when the sale value is already reduced from the block. It ruled that taxing such profit would cause double taxation.
ITAT allows fresh hearing as assessee’s appeal was dismissed because notices were emailed despite opting for postal delivery. Emphasizes importance of respecting communication preferences in tax proceedings.
