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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 Tribunal ruled that reopening proceedings cannot survive where the mandatory sanction under Section 151 is not obtained from t...
Income Tax : Delhi ITAT held that donations qualifying under Section 80G do not lose eligibility merely because they form part of Corporate Soc...
Income Tax : The Tribunal ruled that addition of the entire amount of bogus purchases as unexplained expenditure was unwarranted in the facts o...
Income Tax : Delhi ITAT ruled that delayed deposit of employees' PF/ESI contributions attracts disallowance under Section 36(1)(va). The decisi...
Income Tax : The ITAT held that an assessee can contest a Section 143(1) adjustment in an appeal against the assessment order if the adjustment...
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...
With the incessant global growth, the relevance of Permanent Establishment (PE) in international taxation has become paramount. In simpler terms, the expression ‘Permanent Establishment’ means a fixed place of business through which the business of an enterprise is wholly or partly carried on.
TCS- New tool to curb and track usage of unaccounted money The Government of India has introduced a new section 206C(1H) with regards to ‘Tax Collection at Source‘. Applicable to everyone having turnover of Rs. 10 crores in last financial year from 01.10.2020. (A) EXTRACTS OF THE SUB-SECTION New sub-section (1H) under Section 206C is […]
ITAT has noted that intimation u/s 143(1) does not contain reasons for denial of TDS credit and it is nothing, but information generated in pro forma by CPC. ITAT has made observation that Intimation not only does not provide reasons but also it does not appear to be result of due examination of the issue by AO.
The issue under consideration is whether the addition made by the AO under section 68 by considering the the amount received as unexplained share capital and premium is justified?
Tribunal in a detailed discussion contained in judgment, had rejected the contention of Revenue. Tribunal had taken into account the valuation of the existing machinery used at Daman and the valuation of the written down value of machinery transferred from Aurangabad to come to the conclusion that same did not exceed 20% of the total value of machinery. The entire issue was thus based on factual consideration and on appreciation of evidence on record. Thus, no question of law arose.
The issue under consideration is whether the cancellation of the penalty u/s 271(1)(c) by the CIT(A) is justified in law?
The issue under consideration is whether the addition made by CIT(A) on account of bogus purchases at rate of 12.5% of purchase u/s 69C is justified in law?
Laxmi Ventures (India) Ltd. Vs DCIT (ITAT Mumbai) The issue under consideration is whether disallowance made against the foreign expense incurred for the foreign travelling of the officer is justified in law? ITAT states that, the assessee had debited a sum on account of foreign travelling expenses for Europe visit and a sum on account […]
The issue under consideration is whether the assessment order passed without serving of the notice u/s 143(2) on correct address as mentioned in ITR is considered as Valid order?
ITAT hold that payment of TDS by the assessee would relate back to the date of presentation of cheques by the assessee to the banker. Accordingly, TDS-CPC, Ghaziabad is directed to revise the aforesaid intimation by taking the date of tender of cheques by the assessee as the actual date of payment and re-compute interest payable by the assessee, if any. The interest demand u/s 220(2) being consequential in nature, may also be recomputed. Resultantly, the appeal filed by the assessee allowed.
