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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...
Microstrategy Singapore Pte Limited Vs DCIT (ITAT Delhi) Insofar as the issue of treating the amount received towards provisions of software related services as FTS, we have noticed that the Assessing Officer has not brought any cogent material on record to demonstrate that while providing the software related maintenance service, the assessee has made available […]
Since, the said amount pertains to late fee and service tax, therefore the provisions of TDS does not apply to the late fee and service tax, hence we delete the addition of Rs.10,48,125/-, made by the Assessing Officer.
Umang Sitani Vs ITO (ITAT Delhi) During the year, the assessee has received Rs.2.58 Cr. on account of compulsory acquisition of his land comprising an amount of Rs.79.17 lacs on account of compensation and Rs.178.92 lacs on account of interest on land compensation, the fact of which is not in dispute. The AO treated the […]
Coastal Fertilisers Ltd Vs ITO (ITAT Kolkata) We note that the cash sum of Rs. 94,50,000/- was deposited in the bank account held with Union Bank of India, account no. 495601010033544 on 16.11.2016. This date of deposit falls in post-demonetization period. On 08.11.2016 demonetization scheme was announced scrapping of currencies in the Rs. 1,000/& Rs. […]
C. Krishniah Chetty & Co. Pvt. Ltd. Vs ITO (ITAT Bangalore) The grounds raised by the assessee, are only seeking set off of current year loss against income from house property and carry forward of loss to the future years amounting to Rs.76,26,766/-. The Ld.AR vehemently submitted that, the assessee incurred expenses in terms of […]
Hemera India Pvt. Ltd Vs DCIT (ITAT Delhi) ITAT held that once the revenue admitted that they were consultancy charges paid for introduction of client then that would fall in the definition of payments made to intermediary or liaison agents for channelizing, arranging or soliciting work order. There is no finding whatsoever that any inquiry […]
DCIT Vs Interjwel private limited (ITAT Mumbai) The assessee submitted that in a diamond business world over there are estimated 8000 – 10,000 different qualities of diamonds price of which depends on various factors and note to diamonds can have the same price as valuation also depends upon the perception of individual businessman. Assessee therefore […]
If the assessee did not adhere to the surrender made during the survey, it was for the AO to bring on record cogent material or other evidence to support the additions rather than rely on the statements simpliciter.
Assessee, being co-operative society, is out of the provisions of section 80P(4) and eligible for deduction under section 80P(2)(a)(i)
Since the nature of activities conducted by the Board Of Control for Cricket in India were commercial activities, therefore, the appellant Board was covered by the provisions of ESIC Act and was liable to pay ESI contribution on the wages paid to the coverable employees.
