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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...
Understand the Income Tax slab rates for individuals for FY 2020-21 in India. Learn about the different categories and the existing and new regime slab rates.
HSBC Electronic Data Processing India P Ltd Vs ACIT (ITAT Hyderabad) Section 37(1) is a residuary section extending the allowance to items of business expenditure not covered by Sections 30 to 36. This Section, according to the learned Author, covers cases of business expenditure only, and not of business losses which are, however, deductible on […]
Deific Abode LLP Vs Union of India (Calcutta High Court) The fundamental point of contention, as advanced by Mr. Khaitan, learned Senior Advocate, appearing on behalf of the petitioners, is the unconscionable and illegal ‘retrospective applicability’ of the 1988 Act, leading to these proceedings. When the matter was last taken up, Mr. Khaitan had conspicuously […]
Raj Arivazhagan Vs ITO (Madras High Court) In the case on hand, the petitioner had raised a specific objection that the proposal for reopening the assessment is liable to be dropped, since there is no finding that there was escapement of income. It was further contended that for the purpose of carrying on verification exercise, […]
Jaya Prakash Vs ITO (ITAT Bangalore) Admittedly in this case, the CIT(A) determined the sale consideration on the basis of Form 26AS without seeing the actual sale deed entered by the assessee with concerned parties. In our opinion, sale consideration cannot be determined only on the basis of Form 26AS. The provisions of s.2(47)(v) can […]
Office Order No.103 of 2021 [Extension of ad-hoc appointment to the grade of JCIT from 01.01.2021 to 31.12.2021 or till these officers are appointed to the grade of JCIT on regular basis, whichever is earlier] F. No. A-3201211212019-Ad.VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes} ***** North Block, […]
ACIT Vs Metric Stream Infotech (India) Pvt. Ltd. (ITAT Banglore) There is a categorical finding returned by Ld.CIT(A) that assessee was unable to get loan from Citibank for meeting the expenses and Citibank also refused to extend the loan. Subsequently assessee was waiting for funds from the principle which was received only after 31/03/2013 by […]
Blackberry Tradecom Pvt. Ltd Vs ITO (ITAT Kolkata) We find that the ld. CIT(A) has passed an ex-parte order as the assessee had not responded to the notices of hearing on 09.03.2017 and 14.03.2017. The AO also passed an order u/s 144 of the Act. The ld. Counsel for the assessee submits that notice of […]
Dell International Services India Pvt. Ltd. Vs ACIT (ITAT Bangalore) We find that the appeals were listed for hearing and adjourned and the delay for non-disposal of the appeals is not attributable to the assessee. Considering the overall facts and circumstances of the case and following the decision rendered by Hon’ble Delhi High Court in […]
ACIT Vs M/s. Sattva Developers Pvt. Ltd. (ITAT Kolkata) From the entry made on 06-09-2011, it would be found that the Authorised Representative filed all the details excepting the explanation regarding treatment of compensation, and for this purpose the hearing was adjourned to 13-09-2011. The next entry on 19-09-2011 inter alia reads that the Authorised […]
