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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...
Held that late fee u/s 234E for delayed filing of return of TDS not leviable while processing a return of TDS for the assessment years prior to 1.6.2015.
DCIT Vs Housing Development & Infrastructure Ltd (ITAT Mumbai) Coordinate bench in the case of in the case of Orbit Corp Ltd. in ITA No. 2979 to 2981 /Mum/2020 , has held that the resolution professional was required to amend Form No. 36A for further prosecuting the appeal and in absence of which appeals were […]
Assessee firm has obtained loans from the sister concern on commercial basis. On facts it has emerged that the lender company has charged interest on advances made to assessee firm. The assessee has taken plea that the advances made by the lender company to the borrower assessee firm is not a loan/advance but is beset with the character of quid pro quo owing to charge of interest for the benefit of lender company.
Gayatri Projects Limited Vs DCIT (ITAT Hyderabad) A reading of provisions under section 13 and 14 of IBC Code along with decision in Ghanashyam Mishra And Sons, clearly shows that once the proceedings have commenced by institution of application under section 7 or 9 or 10 of the Code, the continuance of the pending proceedings […]
In this case, AO pass order levying penalty amounting to Rs.6,62,100/- u/s 271C of Income Tax Act (being 2% of the EDC amount paid to HUDA).
Logix Infratech Private Limited Vs DCIT (Delhi High Court) Present writ petition has been filed challenging the order dated 28th July, 2022 passed under Section 148A(d) along with notice dated 28th July, 2022 issued under Section 148 of the Income Tax Act, 1961 (‘the Act’) for the assessment year 2013-14 and the proceedings initiated pursuant […]
Deccan Chronicle Holdings Limited Vs ACIT (ITAT Hyderabad) Under section 13 of the Code, the adjudicating authority after admission of the application under section 7 or 9 or 10 of the IBC Code shall declare a moratorium which shall include the prohibition of the institution of suits or continuation of pending suits or proceedings against […]
Understand the consequences of non-payment of TDS/TCS & non-filing of TDS/TCS returns. Learn about the penalties and legal implications.
Assessee deserves one more opportunity to reconcile difference between contract receipts as shown in return of income & Form No. 26AS -ITAT
2 different yardsticks for same set of sale transaction made by co-owners not allowed. Assessee cannot be treated differently for similar transaction
