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Income Tax : Taxpayers are facing confusion following the introduction of the Income-tax Act, 2025. The key clarification is that income earned...
Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...
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 : 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 ITAT Mumbai held that when the reason recorded for reopening an assessment does not ultimately result in any addition, the Ass...
Income Tax : The Mumbai ITAT held that an addition under Section 68 cannot be made solely on the basis of a retracted statement alleging accomm...
Income Tax : The Mumbai ITAT held that Section 263 cannot be invoked merely because the Assessing Officer accepted income without making an add...
Income Tax : The Mumbai ITAT held that reassessment proceedings under Section 147/148 were invalid where the case was based on search material ...
Income Tax : The Tribunal condoned the delayed appeal filing after finding sufficient cause and allowed the matter to proceed. It also clarifie...
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...
CBDT notifies Income-tax (34th Amendment) Rules, 2021 vide Notification No. 138/2021-Income Tax Dated: 27th December, 2021. Vide this CBDT inserts Income Tax Rule 2DD. Computation of exempt income of specified fund for the purposes of clause (23FF) of section 10, Notifies New Forms i.e. Form No. 10-II – Statement of exempt income under clause (23FF) of section […]
Vide Notification No. 11 of 2021 CBDT appointed 165 Assistant Commissioners of Income Tax (Junior Scale) as Deputy Commissioner of Income Tax (Senior Time Scale) in Level 11 in the Pay Matrix Rs.67,700-2,08,700/- w.e.f. 01.01.2022 or the date of assumption of charge, whichever is later. Government of India Ministry of Finance Department of Revenue Central […]
Notification No. 10 of 2021 – The following Assistant Commissioners of Income Tax (Junior Scale) are, hereby, appointed as Deputy Commissioner of Income Tax (Senior Time Scale) in Level 11 in the Pay Matrix Rs.67,700-2,08,700/-, w.e.f. 01.01.2022 or the date of assumption of charge, whichever is later
ITAT Delhi rules in Amandeep Singh Khurana vs ITO, disallowance u/s 36(1)(va) not valid for delayed PF/ESI deposit if made before return filing.
Payment of Rs.89 lakhs on account of pension to wholetime Directors on the basis of Board resolution of the assessee company was incurred wholly and exclusively for the purpose of business of the assessee and was allowable as deduction.
Pee Tee Turners Vs Assistant Director of CPC (ITAT Jaipur) In the instant case, admittedly and undisputedly, the employees’ contribution to ESI and PF collected by the assessee from its employees have been deposited well before the due date of filing of return of income u/s 139(1) – D/R has referred to the explanation to […]
Citi Centre Developers Vs CPC (ITAT Chandigarh) Since the facts of the present cases are identical to the facts involved in Raja Ram Vs. ITO, Yamunanagar (ITAT, Chandigarh) therefore respectfully following the earlier orders as referred to herein above of the different Benches of the ITAT, the impugned additions made by the Assessing Officer and […]
Ld. CIT(A) did not consider submission of Assessee and wrongly observed in impugned order that appellant has not given any submissions and evidences regarding the disallowance of deduction u/s.80C
Krishna Mohan Choursiya Vs ITO (ITAT Indore) We find that there is a clear distinction between a municipality and a gram panchayat as also enunciated in the judgment of Hon’ble Madras High Court in the case of CIT v. P.J. Thomas as reported in [1995] 211 ITR 897 (MAD.), therefore, we are of the view […]
Chandigarh Chartered Accountants Taxation Association has made a representation to Finance Minister for Extension of due dates of Income tax returns & Submission of Tax audit reports for FY 2020-21 (AY 2021-22) in view of Practical difficulties faced by taxpayers & tax professionals in filing Income tax returns, tax audit form. Full Text of their […]
