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Income Tax : The Income Tax Department has clarified the purpose, contents, and access to the Annual Information Statement (AIS) and Taxpayer I...
Income Tax : The Income Tax Department has issued comprehensive FAQs explaining what constitutes a benami property and benami transaction under...
Income Tax : The Income Tax Department has issued detailed FAQs explaining registration, audit, return filing, investment norms, and tax exempt...
Income Tax : The Income Tax Department explains when interest is payable for delayed return filing, advance tax defaults, deferment of instalme...
Income Tax : ITAT Jaipur held that proceedings under Section 153C are invalid where the Assessing Officer merely reproduces information from th...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
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 : The Tribunal affirmed the CIT(A)'s order annulling assessments because the search was not conducted in the assessee's name. It als...
Income Tax : The ITAT held that the Supreme Court’s COVID-19 limitation extension did not apply to statutory timelines for completing income-...
Income Tax : The ITAT Raipur held that estimated gross profit addition on unrecorded sales cannot be sustained when the Assessing Officer has n...
Income Tax : The Karnataka High Court set aside the impugned order after finding that the entire tax demand had been recovered despite an inter...
Income Tax : The ITAT Mumbai held that the assessee's convertible debentures lacked the liability component required for classification as Comp...
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...
Criteria for generation of non filers: Any person holding valid PAN has not filed the return for the entered AY as well as for preceding 3 A.Y.s. Criteria for generation of stop filers: Any person holding valid PAN has not filed the return for the entered AY but filed the return for any of the preceding 3 A.Y.s.
Kindly refer to the above and Board’s letter dated 20.08.2019 whereby it was directed that process of withdrawal of appeals in consequence of Circular 17 of 2019 shall be completed by 31st October, 2019. 2. In this regard, it is stated that Prime Minister’s Office has requested for‑ figure of withdrawal of appeals as on 31.08.2019 as per table below.
This is a simple case of acquiring shares of certain companies from certain shareholders without paying any cash consideration and instead the consideration was settled through issuance of shares to the respective parties. That is, section 68 of I.T. Act, 1961 does not apply to cases of purchase of share assets and allotment of shares by the appellant when purchase and allotment are under a barter
It has come to the notice of CBDT that an incorrect perception was being created in a section of the media inasmuch as if the announcements made by FM on last Friday, which brought in a number of responsive structural measures to boost up the economy, had created a differential regime between FPIs and domestic investors including AIF category III.
The question raised in appeal is challenging the action of CIT(A) in confirming the addition made on account of Section 14(A) r.w.s. 8D(2)(ii)&(iii) of the Rules.
The issue under consideration is whether the capital gain will be chargeable in case of JDA even if Permissive possession was not handed over to builder during the concerned year?
The Appointments Committee of the Cabinet (ACC) has approved re-appointment of Shri Pramod Chandra Mody, Chairman, Central Board of Direct Taxes (CBDT) as Chairman, CBDT upon his superannuation on 31.08.2019, for a period of one year with effect from 01.09.2019 to 31 08.2020 or until further orders, whichever is earlier.
Statement recorded during survey, under section 133A, does not have a evidentiary value on its own and, therefore, no addition was maintainable on the basis of statement recorded during the course of survey as there was no evidence supporting the statement.
ACIT Vs New Horizons Limited (Kolkata High Court) It is observed that physical verification of stock was carried out by the assessee-company in the month of January and February, 2015 as a matter of internal control and surplus stock of Rs.4,70,54,450/- found on such physical verification was duly incorporated by the assessee-company in its books […]
Shri A. R. Prasad Vs ITO (ITAT Bangalore) When we compare the terms of possession in the said case as per Para 4 of the tribunal order reproduced above and the terms of JDA in the present case as reproduced above, we find that in both cases, the possession is handed over to the builder […]
