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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...
Income surrendered by assessee is nothing but suppression in net sales and is assessable under the head income from business and cannot be treated as deemed income u/s 68 of the Act.
PCIT Vs Cherian Abraham (Karnataka High Court) The undisputed facts are that the search was conducted in the case of a search person on 06.02.2012. Pursuant to which Section 153C proceedings were initiated against the assessee. Notice under Section 142[1] was issued on 12.09.2013 calling the assessee to file the return. Reply was filed on […]
Daya Properties and Finance Vs ACIT (ITAT Indore) We observe that during the course of search cash sum of Rs.37,02,020/- was found and assessee failed to explain its source and accepted to offer it as additional income. No specific retraction was made before filing of return of income. In the return of income assessee partly […]
M/s Toffee Agricultural Farms Pvt. Ltd. Vs ITO (ITAT Delhi) Coming to the question regarding action of the learned CIT (Appeals) to treat the reference u/s 142 for the purpose of Section 69B, I find merit into the contention of the assessee that there is no power conferred upon the learned CIT(Appeals) to assess a […]
ITAT Kolkata ruling: CPC can’t make adjustments u/s 143(1)(a) without proper enquiry. Appeal allowed, adjustment on turnover without jurisdiction.
G.N. Venugopal Vs ACIT (ITAT Bangalore) Conclusion: Merely because of the fact that the land was sold for profit, it could not be held that income arising from the sale of land was taxable as profit arising from the adventure in the nature of trade. Where land was not subjected to any conversion as non-agricultural […]
Stay ahead of the game with the latest ITR changes for FY 2022-23. Be prepared with the necessary documents for filing your taxes.
Sasken Communication Technologies Ltd I.T.A. No. 241 of 2011 dated 10 June 2020 Karnataka High Court Karnataka HC rules that non-compete fees paid to key employees at the time of joining is in the nature of salary income. BRIEF FACTS: In the case of Sasken Communication Technologies Ltd (Taxpayer), the issue before the HC was. […]
Ld. CIT(A) also failed to consider that as per section 159 of the Act, the legal heir is supposed to file the return of income. The assessee is the only legal heir of his deceased father and his mother is also pre-deceased her husband.
Dhananjay Satellite Members Association Vs ITO (ITAT Ahmedabad) We note that assessee is registered as a non-trading organization, and the registration certificate is placed at page nos. 1, 2 and 3 of the assessee`s paper book. The assessee submitted before us, memorandum of association of the trust, which is placed at page no.4 to 20 […]
