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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...
National Collateral Management Services Limited Vs Maa Diwri Rice Mill Pvt. Ltd (Jharkhand High Court) The question which has been raised by the learned counsel for the respondent that the similar issue is pending adjudication before the Council constituted under the MSME Act, 2006, therefore, the instant application is not maintainable. This Court, is not […]
Held that the procedural formalities in the CPC are intended to facilitate litigation by stating the procedure to be followed and not to be abused as an instrument of oppression to frustrate validly instituted proceedings.
Natarajan Purushothaman Vs ITO (ITAT Chennai) During appellate proceedings, the assessee submitted that he used to bring cash during visits to India and it was customary to provide some cash to the parents during such visit. The Ld. CIT(A), inter-alia, observed that the deposits of Rs.3.45 Lacs was stated to funded out of earlier withdrawals […]
Standard Operating Procedure (SOP) for Assessment Unit (AU), Verification Unit (VU), Technical Unit (TU) and Review Unit (RU) under the Faceless Assessment provisions of Section 144B of the Income-tax Act. National Faceless Assessment Centre, Delhi NaFAC/Delhi/CIT-1/2022-23/112/92 Dated: 03/08/2022 To, The Pr. Chief Commissioner of Income-tax (CCA), (All regions) Madam/Sir, Sub: Standard Operating Procedure (SOP) for […]
PCIT Vs Future First Info. Services Pvt. Ltd (Delhi High Court) No Disallowance under Section 40(a)(ia) for TDS shortfall due to any difference of opinion Section 40(a)(ia) of the Act refers only to the duty to deduct tax and pay to government account. If there is any shortfall due to any difference of opinion as […]
Ravindra Joma Bhagat Vs ITO (ITAT Pune) ITAT noted that the delay of 2172 days are abnormal and the assessee could not explain reasons which really prevented the assessee in filing appeal in time before the ITAT except stating that due to advice of his Chartered Accountant/Consultant, in our opinion is not reasonable cause which […]
Rajkumar Tiwari Vs ITO (ITAT Ahmedabad) As regards the merit of the issue involved in this case relating to the addition of Rs.6,54,300/- made by the Assessing Officer under Section 69C of the Act by treating the cash payments made by the assessee against credit card purchases as unexplained expenditure, the learned Counsel for the […]
Vijay Vasantrao Mahadik Vs Addl. CIT (ITAT Pune) The assessee appears to have opened the foregoing bank account in the name of his erstwhile minor son Mr. Virendra Mahadik long back. He had also furnished his PAN number at the time of his minor son’s bank account opening. Mr. Jasnani vehemently argued that the learned […]
Debate over ITR date extensions: Is it justified? Explore the reasons behind the annual controversy and possible solutions.
Income Tax Department conducts searches in Gujarat The Income Tax Department carried out a search and seizure operation on 20.07.2022 on a prominent business conglomerate engaged in diversified fields of Textiles, Chemicals, Packaging, Real estate and Education. The search action covered a total of 58 premises, spread across Kheda, Ahmedabad, Mumbai, Hyderabad and Kolkata. As […]
