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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 : This article outlines major penalties under the Income-tax Act for defaults involving tax payments, return filing, TDS compliance,...
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 the full value of unaccounted sales cannot automatically be treated as taxable income. It restricted the ...
Income Tax : Addition of capital gain was deleted as impugned land being agricultural land situated beyond the prescribed municipal limits and ...
Income Tax : The ITAT held that investments which did not generate exempt income during the year cannot be considered for Rule 8D disallowance....
Income Tax : The ITAT Ahmedabad held that isolated WhatsApp messages and electronic communications cannot, by themselves, support additions in ...
Income Tax : ITAT Ahmedabad held that penalty under Section 43 of the Black Money Act could not be imposed when foreign assets were subsequentl...
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 Mumbai held that assessment proceedings were initiated on the basis of search operation carried out at third party wherein incriminating documents relating to assessee were allegedly found. Hence, assessment was required to be framed u/s 153C read with section 153A of the Income Tax Act and not u/s 144 and hence the said proceedings are quashed.
ITAT Amritsar held that reassessment proceedings initiated on recorded reasons on belief that the specific income has escaped assessment, however, addition on some other income not having any connection with the recorded reason is erred in law.
ITAT Mumbai held that business profits earned by the assessee (non-resident) on account of the reinsurance business have no tax implications in India and existence of dependent agency permanent establishment is wholly tax neutral in India.
Madhya Pradesh High Court held that penalty u/s 271(1)(c) of the Income Tax Act not leviable in absence of deliberate intention to either conceal income or to furnish inaccurate particulars
ITAT Delhi held that amendments to section 36(1)(va) by Finance Act 2021 are retrospective or prospective is debatable and controversial and any adjustments u/s 143(1) of Income Tax Act by way of intimation, on debatable and controversial issues, is beyond the scope of Section 143(1).
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Delhi High Court held that delay in payment under Direct Tax Vivad Se Vishwas Act 2020 on account of death of Managing Director of the company deserves to be condoned as the said event is extraordinary and exceptional in nature.
ITAT Mumbai held that as TPO has gathered financial and functional details of the company by way of using his authority under section 133(6) of the Income Tax Act hence the same needs to provide all the gathered information to the assessee.
ITAT Delhi held that the trade mark license agreement goes to the root of the matter and hence the same cannot be brushed aside while deciding the matter.
