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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 ITAT condoned the delay after finding that assessment and appellate notices were sent to incorrect email addresses. The ruling...
Income Tax : The ITAT observed that invoking the test of human probabilities cannot replace factual verification of books and bank records. Add...
Income Tax : The ITAT found that provisions for identified legal and professional expenses represented crystallized liabilities requiring TDS d...
Income Tax : The Court held that the delay in e-verification of Form 10B during the pandemic was supported by bona fide reasons. It ruled that ...
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 : 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...
Euro Diamonds Pvt. Ltd. Vs ITO (ITAT Mumbai) We noticed that the assessing officer has made the impugned addition on the basis of generalised information given by investigation wing that M/s Bhanwarlal Jain group is engaged in the business of providing accommodation sales bills without actually supplying the goods. There is no material on record […]
Vikrant Anthony Joseph Vs ITO (Gujarat High Court) Law is well settled that unless the heirs and legal representatives of the deceased assessee could be said to have been submitted to the jurisdiction of the assessing officer and have participated in the assessment or re-assessment proceedings, notice to the dead assessee and commencement of assessment […]
PCIT Vs Delhi International Airport Pvt. Ltd. (Delhi High Court) present case is covered by the Division Bench judgment in Cheminvest Ltd. vs. CIT, [2015] 61 com 118 (Delhi), wherein this Court has held that the expression ‘does not form part of the total income’ in Section 14A of the Act means that there should […]
Whether ITAT erred in law in deleting addition as Income from Other Sources and holding it eligible for calculation of deduction under Sections 10A and 10B of Income Tax Act, 1961?
ITAT Pune remands to CIT(A) for discrepancy issue in Sanjay Dayal vs ITO. Assessee’s appeal partly allowed for statistical purposes.
Vishnunarayan R. Modani Vs CIT (A) (ITAT Mumbai) Assessee has not furnished any material to show that the share transactions entered by him are genuine transactions. Accordingly, I am of the view that the Assessing Officer was justified in treating the capital gain of Rs.136,812/- and Rs.150,575/- as income under the head ‘income from other […]
PCIT Vs IFFCO LTD (Delhi High Court) In view of Section 14A(1), no deduction is to be allowed in respect of expenditure incurred by the assessee in relation to income which does not form part of the total income under the As per Section 2(45) of the Act, ‘total income’ means the total amount of […]
Nagesh Trading CO. Vs ITO (Delhi High Court) Directions given by the Supreme Court in Ashish Agarwal (supra) were applicable to cases, where notices under Section 148 of the Act had been issued during the period 01st April, 2021 to 30th June, 2021 – which is not the case in the present matter. Consequently, the […]
Many years later, father and son fall out. It does not matter who is to blame for the falling out, but they can no longer work together or even live in close proximity.
Sunita Chaudhry Vs ITO (ITAT Mumbai) We find that SEBI vide interim order dated 19/12/2014 and 11/08/2015, inter-alia, restrained 154 entities, including the assessee, from accessing the securities market and buying, selling or dealing in securities, either directly or indirectly, in any manner, till further directions, pending investigation in the script of in case of […]
