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Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
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 Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
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...
ITAT clarified that a statement recorded during search does not automatically become incriminating material. Without supporting documentary evidence, additions under Section 69A cannot survive.
The Tribunal emphasized that documentary evidence including bank statements and lender confirmations sufficiently explained the disputed credits. It held that no addition for unexplained money was warranted.
While condoning procedural delay, the Tribunal emphasized fairness and allowed substantial relief in a capital gains computation dispute. It directed recalculation of indexed cost after permitting 80% of claimed improvement expenses.
The Tribunal held that when sales are undisputed and books of account remain intact, purchase additions require stronger evidence. In the absence of contrary material, the ₹35.48 lakh disallowance was deleted.
Although stamp law generally places registration costs on buyers, the Tribunal held that parties may contract otherwise. Since the sale deed clearly assigned the burden to the seller, the ₹5.47 lakh disallowance was deleted.
The Tribunal reversed additions made towards alleged suppressed rent and bogus salary expenses. It emphasized factual consistency, business necessity, and absence of tax avoidance in granting relief to the assessee.
The Tribunal held that accumulated savings and customary cash gifts over 40 years of marital life were a plausible explanation for seized cash. It deleted the addition sustained by the CIT(A).
The Tribunal held that cash deposits cannot be treated as unexplained when the bank account is recorded in audited books and disclosed in the ITR. In absence of contrary evidence, the addition under Section 69A was deleted.
The Tribunal ruled that admission of fresh evidence without AOs examination violated procedural rules. The deletion of ₹2 crore disallowance under Section 40A(3) was set aside for reconsideration.
The Tribunal found non-compliance with statutory duties under Sections 250(4) and 250(6). The dismissal on delay alone was held improper, and the appeal was restored for fresh adjudication.
