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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 ruled that reassessment made pursuant to a quashed Section 263 order has no legal basis. Subsequent additions cannot stand once the revision itself is annulled.
The Tribunal ruled that TDS credit can be granted even if not fully reflected in Form 26AS, subject to verification. The deductee should not be penalized for the deductor’s failure to deposit tax.
With the Section 50C addition and 54F disallowance deleted, the Tribunal held that the penalty under Section 271(1)(c) could not survive. It emphasized that penalty cannot stand when the underlying additions are removed.
ITAT ruled that revisionary powers cannot be invoked on vague suspicion. Where identity, creditworthiness, and genuineness are documented and examined, Section 263 cannot be sustained.
The Tribunal ruled that reassessment completed after the taxpayer s death without issuing notice to legal heirs is void ab initio. Legal heirs are not obligated to inform the Revenue about the death.
The Tribunal ruled that once cash sales are recorded in books and included in declared turnover, separate addition of deposits would result in double taxation. The entire ₹4.74 crore addition was deleted.
The Tribunal clarified that Goetze (India) does not bar appellate authorities from entertaining new claims. Where all facts are on record, the claim must be examined on merits.
ITAT held that quasi-judicial assessments must be based on facts, not conjecture. Estimation of expenses is impermissible where no defect in vouchers or accounts is established.
The Tribunal held that after expiry of three years, sanction must be obtained from the authority specified under Section 151(ii). Since approval was taken from PCIT instead of PCCIT, the reopening was invalid.
Relying on binding precedent, the Tribunal ruled that additions sustained purely on profit estimation cannot trigger penalty under Section 271(1)(c). Clear evidence of concealment is mandatory for penalty.
