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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...
Get a sample format for the undertaking under section 12AB(4) of the Income Tax Act, 1961. This declaration assures that the trust is exclusively for charitable purposes, and its activities adhere to legal conditions. Download now for compliance assurance.
Generate a foolproof declaration under Section 13(1)(c) of the Income Tax Act, 1961 for your trust. Ensure compliance and transparency in handling trust income and property. Download the format now
Chenna Krishnama Charyulu Karampudi Vs Additional Commissioner Appeals (Telangana High Court) HC held that Though the lower appellate authority may be right in holding that while it may allow filing of an appeal beyond the limitation of three months for a further period of one month, therefore, by extension of limitation beyond the extended period […]
Sunny Rock Estates & Developers Pvt. Ltd Vs DCIT (ITAT Kolkata) Income earned during the year by the assessee is on inter-corporate deposit with Williamson Services Ltd. as interest income. We also note that assessee has consistently reported its earning of interest income from ICDs, as business income which has been accepted by the Department […]
Held that the training fee paid by the assessee to a professional trainer doesn’t amount to Fees for Technical Services and hence TDS u/s 195 not deductible
Held that show cause notice to initiate proceedings u/s. 201(1) is issued on 20.11.2012 which is beyond four years with respect to assessment years 2007-08 & 2008-09. Accordingly, interest levied u/s 201(1A) unsustainable.
Reasonable quantum of cash available out of past savings should be considered as being available to assessee to explain source of cash deposited in bank
Bappanalli Brothers Vs ACIT (ITAT Banglore) CIT(A) concluded that the payments were not made directly to the cultivator and therefore the Assessee has not proved existence of circumstances set out in Rule 6DD(e) of the rules. ITAT held that The reasons given by the CIT(A) for treating the payment in question not to the Agriculturists […]
Vikas Gupta Vs Union of India (Allahabad High Court) Important recent update on landmark Allahabad high court ruling in cases of Vikas Gupta & others vs UOI order dated 08 Septmber 2022 on fatal impact of lack of Mandatory requirement of valid sec 151 approval on part of approving authority Held quashing notices u/s 148 […]
PCIT Vs Sandvik Asia Pvt. Ltd (Bombay High Court) The other issue arises for consideration is whether the losses sustained by hundred per cent EOU could be set off against the other business income of the assessee. This issue, however, is no longer res integra. In Hindustan Lever Ltd. V/s. Dy. CIT This Court observed […]
