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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...
This Article covers a few challenging aspects of Section 194R apart from the ‘HENRY VIII Clause’ approach being adopted by the tax department in the recent years, among others.
Held that appellant has transferred the land to the developer through JDA and the developer had power to alienate their portion of property. Accordingly, property so transferred is not subject to wealth tax.
Held that the interest income in question is required to be taxed at 10% in terms of the provisions of Article 11(2) of the India-Japan DTAA
Held that addition made on estimated basis, without rejecting books of accounts of the assessee, is unsustainable in law
Held that the explanation of the source of these very small loans as given by friends of the assessee to help him in his share trading transactions, and which has been confirmed by two parties, cannot be dismissed as unbelievable.
Delhi high court negating dept stand about retrospective amendment plea for sec 14A explanation added by finance act 2022 in authors opinion it should ably address the much created confusion from revenue side.
Due date of for filing TDS return for Q-4 was 31.05.2022. TDS Certificates are required to be issued within 15 days, (within 15.06.2022). The tax-payer has to reconcile the data with information contained in AIS as well as TDS certificates.
This Article Explains Step by Step Preparation of Application U/S. 154 of the Income Tax Act, 1961 For Rectification of Intimation U/S. 143(1) Issued with Adjustment for Income Reported in Clause 16(d) Of Tax Audit Report.
Held that the department cannot proceed against a person found liable to prosecute him for the offence under Section 276CC of the Income Tax Act, 1961 without sanction under section 278B.
Held that merely because the assessee is referred as a contractor in the agreement, it doesn’t detract the assessee from the position of being a developer, nor will deprive the assessee from claiming deduction under Section 80IA(4) of the Act.
