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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 benefit of carried forward business losses and unabsorbed dep. u/s. 72A available only if the amalgamation/demerger is genuine
Issue relating to the land vacation compensation charges claimed by the assessee in the year under consideration was duly examined by the Assessing Officer by making the necessary inquiries and after satisfying himself on perusal of the relevant details and documents placed on record by the assessee
Held that addition of the amount of unsecured loan sustained as the assessee failed to establish the genuineness of the loan transactions except filing the affidavits.
Held that the assessment order passed by the AO is erroneous in so far as it is prejudicial to the interest of the revenue and thus, the CIT has rightly exercised his jurisdictional powers
Held that the addition made on account of excess depreciation claimed, having been surrendered by the assessee itself without any prior detection by the Revenue, the excess claim having been demonstrated to have been made for bonafide reasons, it is surely not a case for levy of penalty at all.
Held that the expenditure incurred on mere registration of trade-mark is a revenue expenditure
Held that as notice for reopening of assessment u/s 148 was not served, within the time stipulated u/s 149, reassessment proceedings initiated u/s 147 is untenable in law
Devendra Prakash Shah Vs State of Maharashtra (Bombay High Court) 1. We have heard Mr. P. B. Shah, learned advocate appearing in support of this writ petition. 2. Having read the averments made in the writ petition and the relief claimed therein, we are of the considered prima facie view that because of the lapse […]
DCIT Vs Kalyan Aqua & Marine Exports India Pvt Ltd (ITAT Visakhapatnam) We find that even though it is claimed by the Ld. AR that there was a technical error which prevented the assessee from filing/uploading the Form-10CCB along with return of income filed U/s. 139(1), the Ld. AR could not produce the Form-10CCB claimed […]
In assessment proceedings through the ‘e-Proceedings’ functionality, there is a seamless flow of letters, notices, questionnaires, orders etc. from Assessing Officer to assessees’ e-Filing account.
