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Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
Income Tax : This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...
Income Tax : This article explains the statutory powers of the Principal Commissioner or Commissioner to waive or reduce penalties in genuine c...
Income Tax : Summary: The Income Tax Act, 2025 introduces a significant structural reform by relocating the exempt income provisions previousl...
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 additions made on transactions unrelated to the reasons recorded for reopening were beyond the Assessing ...
Income Tax : The ITAT Chandigarh held that once registration under Section 12AB had been directed to be granted, the primary basis for rejectin...
Income Tax : The Delhi ITAT found that the Assessing Officer lacked legal authority to reopen assessment years lying outside the ten-year block...
Income Tax : ITAT Chennai restored the matter to the Assessing Officer after finding that the assessment and appellate proceedings were conclud...
Income Tax : ITAT Kolkata upheld the deletion of disallowance relating to brought forward losses of an amalgamating company after finding that ...
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 additions on account of LIC Premia treated as unexplained investment deleted as merely based on rough notings without any substantive evidence.
ITAT Delhi held that in case of limited scrutiny, AO cannot exceed the jurisdiction beyond the one which he has carved out himself in the notice issued for limited scrutiny. Addition beyond his jurisdiction is unsustainable.
ITAT Ahmedabad held that assessee has produced many evidences to provide genuineness of the transactions and hence addition confirmed by CIT(A) is liable to be deleted.
ITAT Chennai held that TDS credit of the earlier financial years is available as income relating to said TDS has been offered to tax for the impugned assessment years on the basis of mercantile system of accounting.
The article is all about the confusion in both the definitions. If we read both the definitions, at first glance it seems overlapping because there is mention of technical consultancy in the definition of professional services as well as technical consultancy is also mentioned under definition of fees for technical services.
Explore effective tax planning strategies for individuals as the year-end approaches. Discover deductions under various sections like 80C, 80D, 80E, and more. Maximize savings and minimize tax liability.
The ITAT allowed appeal of the assesse wherein the LD. CIT(E) have rejected registration under 12A of the I.T. Act, 1961, by observing that various allegations made by the ld.CIT(E) while denying registration u/s. 12A of the I.T.Act requires verification and proper appreciation of facts by the ld. CIT(E). In addition, it was also observed that the matter requires a revisit to the file of the PCIT for deciding the issue afresh and in accordance with law after giving due opportunity of being heard to the assessee.
Bombay High Court dismissed the writ petition as an alternate remedy of appeal is available to the petitioner which needs to be filed before the Commissioner of Income Tax (Appeals) as per the provisions of Section 246 of the Income Tax Act.
ITAT Hyderabad held that AO has neither made any enquiry nor asked any questions to the assessee nor any information was called for. Therefore, the order passed by AO was erroneous and prejudicial to the interest of revenue within the meaning of section 263 of the Income Tax Act.
ITAT Mumbai held that reopening of assessment was undertaken by AO without application of mind on complete incorrect assumption of fact that no return of income was filed for the relevant Assessment year and hence said reopening of assessment is invalid.
