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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...
Arjuna (Fictional Character): Krishna, Honourable Finance Minister Mrs. Nirmala Sitharaman will be declaring the Finance Budget of 2022-23 on 01st February in the Lok Sabha. Everyone is excited for the Budget. But due to corona, “Halwa” Tradition has been discontinued and “Mithai” has been distributed. Krishna, What the taxpayer’s will get Halwa or Mithai in […]
Synamedia Ltd. [formerly known as ‘NDS Limited’] Vs ACIT (ITAT Bangalore) It is the case of the Assessee that the receipts in question are pure reimbursement of expenses incurred by the Assessee for and on behalf of NDS Pay TV. It is the case of the revenue that (Para 2.1 of AO’s order) that reimbursement […]
GBT India Pvt. Ltd. Vs National E–Assessment Centre (ITAT Delhi) During the course of scrutiny assessment proceedings, the Assessing Officer noticed that the bad debts are related to very brand conscious entities, which by no stretch of imagination can be made as bad debts. The Assessing Officer further observed that the assessee has not furnished […]
Divesh Prakashchand Jain Vs PCIT (Bombay High Court) We have perused the notice as well as the order passed by Respondent No.1 and in our view, there is no case made out for transferring Petitioner’s case to Bengaluru. Under Section 127(2) of the Act, where the Assessing Officer or Assessing Officers from whom the case […]
CBIC hereby sets up office for the Interim Boards for Settlement (hereinafter referred to as ‘the IBS’) as specified in Column 2 of the Schedule below, with their headquarters at the places mentioned in Column 3 of the said Schedule and comprising of Income-tax Authorities as specified in Column 4 of the said Schedule.
Bechtel France SAS Vs DCIT (ITAT Mumbai) Facts: The taxpayer is a company incorporated in France and engaged in the business of procurement and construction. It had set up a project office at Mumbai with site offices at other locations in India to build certain refinery and certain complex. The Commissioner of Income-tax observed that there […]
ITO Vs Super Hospitality Services Pvt. Ltd. (ITAT Ahmedabad) Ld. CIT(A) noted that the notice issued in the name of the assessee company by the Central Excise and Customs and Service Tax Department dt.20/11/2009 , which was the basis of reopening the case and making the impugned additions was also issued to Mr. Keshav Alwa, […]
Vodafone Idea Limited Vs PCIT (ITAT Mumbai) ITA allows depreciation @ 25% on spectrum fee and held that provisions contained under section 35ABB are not applicable to spectrum fee and it further held that PCIT cannot keep an issue alive on the pretext that the order passed by the Tribunal is not accepted by the […]
In this case, we note that assessee is claiming exemption u/s. 80IC. The assessee has not filed return of income u/s. 139(1). As per the provisions of section80 AC it is mandatory for the assessee to file return of income u/s.139 (1) to be eligible to claim deduction u/s. 80-IA or 80-IB, or 80-IAB or 80-IC or 80-ID or 81-E. It is undisputed that assessee has not filed return of income under section 139 (1). Hence, as per the provisions of the act, the assessee is not entitled to claim the deduction.
Sirpur Paper Mills Limited Vs Union of India (Telangana High Court) Insofar carry forward of losses and adjustments against future profits are concerned, the same is provided by Clause 17.7 (c) of the resolution plan. However, as and when such carry forward and set off is claimed by the petitioner in future, i.e. beyond the […]
