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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 repair expenditure of propaganda van, a gifted vehicle, was alleged to be met by the donor. The onus was on assessee to negate the allegation of revenue. However, no such onus was discharged. Disallowance of expenditure justified.
Prior period expenses charged to profit and loss account cannot be deducted from profit of year for computing book profit under Section 115JB
कर निर्धारण वर्ष 2022-2023 का लेट फीस के साथ आयकर रिटर्न तथा एक अगस्त 2022 के बाद तीस दिन में आयकर रिटर्न का वेरिफिकेशन ऐसे करदाता जिनका ऑडिट नही होता है तथा वेतन भोगी है यदि वह कर निर्धारण वर्ष 2022 -2023 का आयकर रिटर्न 31 जुलाई 2022 तक नही भर पाये है वह अभी […]
Held that the re-assessment and addition of the duly accounted cash sales of the assessee as unexplained cash credits u/s 68 by the AO without rejection of the books of account of the assessee u/s 145(3) of the Act is unjustified
Allen Career Institute Vs JCIT (ITAT Jaipur) Disallowance of Rs.2,01,515/- on account of New Electricity Connection charges. In Ground of Appeal disallowance of Rs. 2,01,515/- made relating to the claim on account of electric connection charges, is agitated. The AO noted that the assessee had claimed expenditure of Rs.2,37,076/- for new electricity connection charges. When […]
Held that impugned order without any DIN is in violation of CBDT circular no. 19/2019 dated 14.08.2019 and hence held as invalid.
Held that treating value of international transaction as NIL without searching for transaction between non-associated enterprises is unsustainable in law
Held that the sale of SIL shares held by the assessee as investment is to be treated as short term capital gain and not as business income.
Jai Balaji Industries Limited vs DCIT (ITAT Kolkata) The assessee has pointed out that it has made advance payment of Rs.9,39,708/- to Tata Metaliks DI Pipes Limited for purchase of scrap materials. This claim of the assessee has been rejected by the Revenue Authorities on the ground that this exact amount is not discernable from […]
Dilip B. Mundada Vs DCIT (ITAT Pune) Jurisdictional High Court and other Hon’ble High Courts and ITAT Pune have held that for availing the benefit of deduction u/s 54F the new asset shall be purchased in the name of the assessee. Applying the said proposition of law to the present case, we hold that the […]
