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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...
Padagouda Hanamanthgouda Patil Vs ACIT (ITAT Bangalore) ITAT noticed that assessee has filed his return of income on 15.10.2018. However, it is the submission of the assessee that the GST amount cited above was paid on 16.10.2018. Hence by the time, the return of income was filed, the assessee has not paid the GST amount […]
Rajiv Gandhi Charitable Trust Vs JCIT (E) (ITAT Delhi) The issue in the present ground is with respect of claim of loss as application of income. It is an undisputed fact that the loss that assessee had incurred on sale of fixed assets and the same has been debited to the income and expenditure account […]
Barapur Gramodyog Vikas Samiti Vs ITO (ITAT Delhi) The AO while completing the assessment noticed that the assessee claimed exemption u/s 10(23B) of the Act as the assessee was engaged in the business of production, sale, etc. of Khadi and Products of Village Industries. The AO was of the view that in view of proviso […]
ITAT held that CIT(A) has considered the case laws and details submitted by the assessee. To our mind, same is amounting to miscarriage of justice
Shri Pankaj Surana Vs ITO (ITAT Raipur) As per Section 57(iii) of the Act, any expenditure not being in the nature of a capital expenditure, laid out or expended wholly and exclusively for the purpose of making or earning income under the head ‘income from other sources’ is to be allowed as a deduction. As […]
Rajesh Kumar Malhotra Vs ACIT (Delhi High Court) This Court is of the view that the Petitioner has not been provided an adequate opportunity to put forward its defense/reply as the annexure accompanying the notice enumerating the reasons for initiating reassessment pertained to the Assessment Year 2015-16 and not 2018-19. It is pertinent to mention […]
Vishnu Kumar Sinha (HUF) Vs ACIT (ITAT Raipur) In this case CIT(Appeals) had disposed off the appeal for non-prosecution and had failed to apply his mind to the issue which did arise from the impugned order and has been assailed by the assessee before him. We are unable to persuade ourselves to accept the manner […]
Jila Sahakari Kendriya Bank Maryadit Vs ITO (ITAT Raipur) It is not disputed by both the parties that there is no finding in the assessment order for levy of penalty for the alleged default u/s. 271B of the Act and it is also not disputed that after passing of the order on 31.12.2011, the alleged […]
Clean Science & Technology Pvt. Ltd. Vs CIT (A) (ITAT Pune) The issue in the present appeal relates to the levy of penalty u/s 271(1)(c) of the Act. On perusal of the penalty order as well as the assessment order, it would reveal that the penalty was levied for furnishing the inaccurate particulars of income […]
CIT (A) has erred in facts and law in holding that loss from sale of shares was short-term capital losses and hence not eligible for set of against income from profession of assessee.
