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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 Delhi held that penalty under section 271(1)(c) of the Income Tax Act unsustainable as claim of deduction u/s. 80IA(4) already decided in favour of the assessee.
ITAT Bangalore held that for invoking the provisions of unexplained cash credit u/s 68 there has to be entries in the books of account for which no explanation should have been offered. As the declaration provided by the assessee is self-explanatory the provisions of section 68 cannot be invoked.
Supreme Court dismissed the appeals and have upheld the contentions of the Revenue that TDS shall be deducted by the appellant of its employees while releasing payments to its employees for the Leave Travel Concession (LTC), when the trip has been made to the foreign countries.
CIT Vs S. Kumar Tyres Manufacturing Co. Ltd. (Madhya Pradesh High Court) Sub-Whether there can be any penalty u/s 271(1)(c) in respect of a debatable issue? The Division bench of Madhya Pradesh High Court was considering department’s appeal when ITAT had given relief to the assessee by holding that there could not have been penalty […]
Bhawneshwar Kumar Vs ITO (ITAT Chandigarh) In the instant case, the matter relates to claim of interest paid by the assessee to the partnership firm where the assessee is a partner and from where the assessee also draws the remuneration. Both the interest paid and remuneration received from the partnership firm has been duly reflected […]
ACIT Vs Exclusive Motors Pvt. Ltd (ITAT Delhi) Undisputedly, the assessing officer has concluded that part of the remittances made by assessee to CCPL towards extended warranty services are in the nature of profit attributable to the PE in India, hence, assessee was required to deduct tax at source on such remittances. He also held […]
Last Hour Ministry Vs CIT (Exemptions) (ITAT Cochin) A perusal of the order cancelling registration wherein various reasons have been given as mentioned earlier apparently show that these reasons would at best give rise to violations u/s.13(1)(c) and 13(1)(d) of the Act which would result in additions in the assessment and reassessment. Such violations, if […]
DCIT Vs Voestalpine VAE VKN India Pvt. Ltd (ITAT Delhi) The assessee company has claimed an expenditure of Rs.2,41,98,983/- on account R & D Expenditure under the head of manufacturing expenditure. We have perused the details which have been enclosed at page no. 80 of the paper book. The same was also before the revenue […]
ITAT Mumbai remits the case to AO, grants Antonio Munroe another opportunity to substantiate challenges against Assessment and denied credits. Appeal allowed for statistical purposes.
Euro Home Vs DCIT (ITAT Chennai) CIT(A) held that the provisions of Sec.44AD would not apply to commission income and the rental income received would be assessed under Income from House Property. Accordingly, the appeal was dismissed against which the assessee is in further appeal before us. ITAT find that commission income would not come […]
