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Income Tax : Increasing use of RERA data by tax authorities makes alignment between project disclosures and income tax reporting essential to a...
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 : 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 Court held that, for assessment year 2009-10, filing the audit report along with the return was directory and not mandatory. D...
Income Tax : The Chennai ITAT held that the Pr. CIT could not invoke Section 263 on matters already under consideration before the appellate au...
Income Tax : The Chennai ITAT held that excess stock found during a survey could not be taxed as unexplained investment when it had been accoun...
Income Tax : The Tribunal upheld the disallowance of a ₹10 lakh deduction after the recipient political party informed the tax authorities th...
Income Tax : The Tribunal upheld the denial of deduction under Section 80GGC after finding that the political donation formed part of an allege...
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...
Civitech Developers Private Limited Vs National E-Assessment Centre (Delhi High Court) Personal hearing, if prayed, should be allowed else E-assessment order vitiates for non compliance of statutory provisions & Principles of Natural Justice The scheme of faceless E- Assessment provides for personal hearing in certain circumstances. In case where the request for personal video link […]
Overview of Section 9B Section 9B of the Income Tax Act, 1961 has been inserted vide Finance Act, 2021. It provides for taxation of Income on receipt of capital asset or stock in trade by the specified person from the specified entity. The section creates a deeming fiction that whenever there is a transfer by a specified entity to […]
Authority for Advance Ruling (AAR) – an Outline In order to avoid needless litigations and to aid the non-residents and seeking clarifications on the Indian income-tax related matters, the Central Government has set up an Authority for Advance Ruling (AAR), through which the non-residents can make application for clarifications regarding their tax liability and any […]
Section 194Q brings further complications to the compliance of various provisions of law already existing and it will certainly be felt by the business circle as being contrary to the ‘Ease of Doing Business’.
Principal Officer, M/s. Vedanta Limited Vs DCIT (Madras High Court) As far as the present Writ Petition is concerned, admittedly, the notice under Section 148 was issued in a wrong name. However, close reading of the name of the Company would reveal that the first word ‘Sesa’ is not alien to the petitioner Company and […]
Sitaram Pahariya (HUF) Vs I.T.O (ITAT Agra) The bare reading of section 54B,( prior to amendment ) make it abundantly clear that the benefit of section 54 are available to assessee or a parents of his. However, the assessee has been defined in section 2(7) means every person in respect of whom any proceeding under […]
P. Amarnath Reddy Vs ACIT (Madras High Court) It is pertinent to note that in the Assessment Order, M/s.Shoetek Agencies is the assessee’s proprietary concern and is engaged in the business of leather and leather products. In the Assessment Order, though the assessee contended that Mrs. Swetha Reddy went aboard in the capacity of Marketing […]
PCIT Vs SRM Systems and Software P. Ltd. (Madras High Court) The assessee disclosed share capital advance to the tune of Rs.6,17,81,000/- and they were directed to furnish names and addresses of the persons, who contributed the advance share capital. The assessee, by reply dated 15.12.2010, stated that the advance towards share capital is Rs.5,65,96,723/- however, […]
Ashok Kumar B. Chowatia Vs JCIT (TDS) (Madras High Court) To the extent tax was deducted by the second respondent and not remitted by the second respondent to the Income Tax Department, recovery can be only directed against the second respondent as the second respondent is the assessee in default. The petitioner cannot be made […]
CIT Vs Rishabh Infopark Pvt. Ltd. (Madras High Court) The only issue in the appeals of the Revenue is that the Income Tax Appellate Tribunal erred in holding that the lease rent income received from letting out modules of Software Technology park to various lessees would constitute income from business and eligible for deduction under […]
