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Income Tax : This article explains depreciation provisions under the Income-tax Act and Companies Act, including WDV, SLM, additional depreciat...
Income Tax : The provisions detail deductions for investments, insurance, pension contributions, home loans, medical expenses, charitable donat...
Income Tax : The article explains who can apply for Advance Rulings, the transactions covered, applicable forms, fees, procedures, and appeal r...
Income Tax : The article explains who can file appeals before the Income Tax Appellate Tribunal, the orders that are appealable, applicable tim...
Income Tax : The article explains how offences such as wilful tax evasion, failure to file returns, non-payment of TDS/TCS, falsification of re...
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 Kerala High Court held that the authority rejected a condonation request solely on the basis of CBDT Circular No. 11/2024 with...
Income Tax : ITAT Delhi sustained a Section 69A addition on demonetisation-period cash deposits after finding 539 identical cash sale vouchers ...
Income Tax : The ITAT Mumbai restored the matter to the Assessing Officer after noting that the assessee had not explained the source of invest...
Income Tax : ITAT Delhi held that a concealment penalty under Section 271(1)(c) cannot be sustained where the addition is based on estimation o...
Income Tax : The Delhi ITAT upheld the addition of deemed house property income after finding that the assessee failed to support his claims wi...
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...
Reassessment was bad in law beyond four years when the tax payer had disclosed the facts at the time of original assessment proceedings and the AO did not draw any adverse inference regarding the same.
CIT Vs Dimpal Yadav (Allahabad High Court) In the instant case, we find that the Tribunal has given a categorical finding that the assessee had established a reasonable cause for failure to comply with the provision of Section 269SS of the Act. The Tribunal further found that the loan given by the Samajwadi Party was […]
CIT Vs Panchsheel Owners Associations (Gujarat High Court) While completing the assessment, the Assessing Officer has noticed that the assessee, an AOP, borrowed loan of Rs. 40,00,000/- from Smt. Shantaben A. Patel, main promoter of the AOP, in cash for expeditious acquisition of land, in violation of section 269SS of the I.T. Act. Therefore, penalty […]
Vidras India Ceramics Pvt. Ltd. Vs D.C.I.T. (ITAT Ahmedabad) The controversy that needs to be addressed so as to whether the assessee is eligible for deduction with respect to the provisions made against the trade debtors in pursuance to the explanation 1 to clause (vii) of section 36(1) of the Act. As per the explanation […]
Dive into Anuradha Pandey’s case vs. ITO (ITAT Varanasi). ITAT’s scrutiny on investment source from closing stock and debtors. Analysis of the disputed addition and its resolution
Transaction of sale of Unquoted equity shares will result in double taxability of difference between the FMV and transaction Value once in the hands of the Seller under Section 50CA under the Head Capital gain and again in the hands of the Buyer under Section 56(2) (x) under the head Income from Other Sources
ITAT Delhi as regards contention of notice not properly serviced held that as per postal authorities explanation the assessee has refused to take notice and such refusal to take a notice is a good service.
Explore the impact of Finance Act 2022 on Health and Education Cess in business expenditure. Insights on legal provisions, deductibility under Section 37, and retrospective applicability.
ITAT Delhi held that assessee has option to choose any of the method i.e., book value method or discounted cash flow method to the Assessee for determining the value of its shares. The valuation so arrived by the expert under Discounted Cash Flow Method providing necessary basis of computation of projection needs to be accepted.
ITAT Chandigarh held that tax authorities cannot enforce any demand on the deductee if the amount of TDS deducted by the dedutor is not deposited with the Government.
