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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 Tribunal ruled that audited books and quantitative reconciliation supported the genuineness of agricultural commodity purchase...
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 : 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...
Smt. Lata Garg Vs DCIT (ITAT Delhi) Facts- The assessee is an individual and derived income from salary, income from house property, income from business or profession and income from other sources. It was alleged that there were certain bogus purchases. Accordingly, AO alleged adding the same to the total income of the assessee. Conclusion- […]
Gangagen Biotechnologies Pvt. Ltd. Vs PCIT (ITAT Bangalore) Bombay High Court in the case of CIT vs. Western Outdoor Interactive Pvt. Ltd. (349 ITR 309) has held that whether a benefit of deduction is available for a particular number of years on satisfaction of certain conditions and under the provision of Act, then without withdrawing […]
Wipro GE Healthcare Pvt. Ltd. Vs DCIT (ITAT Bangalore) We notice that there was difference of opinion between the assessee and the AO in respect of extent of land that is assessable to wealth tax. While the case of revenue is that entire vacant land admeasuring 2,54,020.58 sq.ft is assessable to wealth tax, the case […]
Where main object or purpose of assessee s charitable trust was promotion of sports and swimming, merely because trust collected certain charges from coaching campus, same could not alter its character of being charitable.
Biocon Ltd. Vs ITO (ITAT Bangalore) Present Miscellaneous Petitions are filed by assessee seeking rectification of typographic mistakes in order dated 14.06.2021 passed by this Tribunal in the above referred appeals. We have perused the order passed by this Tribunal viz-a-viz the submissions advanced by both sides and the records placed before us. We note […]
Kishan Kothwal Vs ITO (Telangana High Court) HC held that The parameters for making addition under Section 68 of the Act and under Section 69A of the Act, though may appear to be similar, however, is not so; therefore, addition of cash credit under Section 68 of the Act would stand on a different pedestal. […]
(For the year ending on March 31, 2022 – Ay 2022-23) 1. TDS on the Making Payments to a ‘Non’ Resident of India (i) Responsibility of TDS under the section 195(1) TDS is to be deducted by a person as ‘responsible’ to pay any interest or ‘any other sum’ to a non-resident of India. (ii) […]
Till FY 2020-21 contribution to Recognised Provident fund (RPF) was eligible for EEE (Exempt- Exempt- Exempt) This EEE implied that full exemption from tax is given on (1) investment in PF (u/s sec 80C), (2) Interest on PF (u/s 10 upto 9.50%) and (3) withdrawal of PF (u/s 10(12) subject to 5 year service condition) […]
Ashok Kumar Yadav Vs ITO (ITAT Delhi) Ld. Counsel for assessee contended that AO has wrongly made addition of the cash deposit in the bank account u/s 69 of the Act. We do not agree with the contention of the Ld. Counsel for the assessee because assessee made a cash deposit of the impugned amount […]
Delhi High Court in case of Coforge Limited (formerly known as NIIT Technologies Ltd) vs. ACIT: ITA Nos.213- 214/2020 decided on 05.07.2021, while reversing the decision of the Tribunal, held that demerger expenses under section 35DD of the Income Tax Act, 1961 (Ac”) are also allowable to the ‘resulting company’.
