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Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...
Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...
Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...
Income Tax : Form 16 and Form 16A serve distinct purposes under the TDS framework, with Form 16 relating to salary income and Form 16A covering...
Income Tax : Permanent Account Number (PAN) serves as a unique identifier enabling the Income-tax Department to track tax payments, returns, TD...
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...
The High Court held that TCS under Section 206C(1C) applies only to lease or licence holders paying royalty, not to offenders paying compounding fines. ITAT’s demand of TCS, interest, and penalty was set aside.
The Court held that reassessment proceedings cannot be quashed merely due to factual disputes. In absence of jurisdictional defect, the matter must be adjudicated by the Assessing Officer.
The Court held that notice under Section 148A(b) was valid despite search-related arguments. However, the assessment was set aside due to absence of proper reasoning on denial of Section 10(38) exemption for long-term capital gains.
The Tribunal held that deduction under Section 54F must be computed with reference to actual sale consideration received, not the deemed value under Section 50C. The matter was remanded for recomputation of LTCG accordingly.
Once the Central Government notified the Faceless Scheme for reassessment (effective March 29, 2022), the JAO was effectively divested of the power to issue notices under Section 148. The issuance of a notice by a JAO instead of the National Faceless Assessment Centre (NFAC) was a jurisdictional error that could not be cured.
PCIT s revision under section 263 against assessee was upheld holding that AO did not properly verify the very low Section 14A disallowance despite huge exempt income and also ignored INSIGHT portal inputs about alleged accommodation entries.
The Finance Ministry clarified that December 2025 messages were part of a data-driven NUDGE compliance campaign. Over 1.11 crore revised returns generated significant additional tax revenue.
For the first time since Independence, personal income tax collections have surpassed corporate tax. The shift reflects formalisation, digitisation, and policy-driven corporate rate reductions.
Understand how direct and indirect taxes differ in imposition, collection, and legal framework. The article highlights governing laws, authorities, and landmark Supreme Court rulings shaping tax interpretation.
The Tribunal held that once satisfaction is recorded under Section 153C, assessment for covered years must proceed strictly under that provision. Framing assessment under Section 143(3) was declared jurisdictionally invalid and quashed.
