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Income Tax : The Income-tax Act contains strict provisions under Sections 40A(3), 269SS, 269ST, 269SU, and 269T to regulate cash transactions, ...
Income Tax : Learn about the most common Income Tax Return filing errors that can attract scrutiny from the tax department. From AIS mismatches...
Income Tax : Income from Other Sources encompasses various taxable receipts such as dividends, gifts, family pension, lottery winnings, interes...
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 : 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 issue was whether an assessment could survive when statutory notices were issued in the name of a deceased person. The Tribunal held such notices invalid and quashed the entire assessment.
The case involved share capital raised at a high premium based on unexecuted projects and circular fund routing. ITAT held that failure to prove creditworthiness and genuineness justified addition under Section 68.
ITAT Delhi held that final assessment order passed beyond the period of limitation for passing the order u/s 144C(13) r.w.s. 153 of the Income Tax Act. Accordingly, the same is barred by limitation and hence liable to be quashed.
The Tribunal considered whether a penalty can stand independently while the core addition is pending fresh adjudication. It ruled that penalty cannot precede final determination of income and must be deleted at this stage.
ITAT Chennai held that section 197(b) of the Finance Act, 2016 cannot be invoked since Form 2 as contemplated under Income Declaration Scheme not served. Accordingly, addition u/s. 69A made in assessment u/s. 147 r.w.s. 144 liable to be deleted.
The Tribunal examined whether the AO formed an independent belief before reopening. Finding verbatim reasons and rubber-stamp approval, it set aside the reassessment and consequential penalty.
The Tribunal assessed compliance with revised reassessment provisions post Finance Act, 2021. It ruled that sanction by a lower authority after three years is non-est in law, leading to quashing of the reassessment.
CIT(A) remanded a completed scrutiny assessment even after the AO accepted additional evidence in remand. ITAT ruled this exceeded statutory powers and restored the case to CIT(A) for a merits-based decision.
The issue was whether an assessment could survive when the scrutiny notice was not issued in the CBDT-prescribed e-format. The Tribunal held the notice invalid and quashed the entire assessment as void.
The issue was whether screen-based stock exchange trades can be ignored due to alleged exit providers. The Tribunal ruled that non-response of buyers and weak financials of counterparties do not invalidate genuine exchange-routed transactions.
