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Income Tax : The article explains how ESOP taxation in unlisted companies occurs at both exercise and buyback stages. It highlights perquisite ...
Income Tax : The FAQs explain the revised CBDT guidelines on compounding offences under the Income-tax Act effective from 17 October 2024. They...
Income Tax : Learn the eligibility, investment conditions, exemption limits, timelines, and withdrawal provisions for capital gains exemptions ...
Income Tax : This FAQ serves as a reference for the Income-tax Act provisions relating to cash receipts, loans, repayments, and electronic paym...
Income Tax : This FAQ covers all ten notified ICDS, explaining their scope, applicability, disclosures, and treatment of various tax-related tr...
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 ITAT Mumbai held that sales tax and similar State Government incentives were capital receipts because the schemes were intende...
Income Tax : The ITAT Visakhapatnam held that the Commissioner cannot invoke Section 263 where the Assessing Officer has already conducted inqu...
Income Tax : The ITAT Visakhapatnam held that deduction under Section 80P cannot be allowed where the assessee failed to file a valid return of...
Income Tax : The Tribunal directed the Assessing Officer to grant Foreign Tax Credit, observing that delayed filing of Form No. 67 is only a pr...
Income Tax : The ITAT Jaipur held that reassessment under Section 147 was invalid because the Assessing Officer merely relied on Investigation ...
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...
Amount received by a retired partner from its erstwhile partnership firm could not be claimed as exempt under section 10(2A) as the reading of section makes it clear that it makes profit of a firm assessed as such exempt in the hands of its partners and assessee was not at all partner in the said firm.
NEW PROCEDURE AND FAQs TO FILE AN APPEAL BEFORE CIT (A) As you are aware, Income Tax Scrutiny cases related to A.Y-2016-17 has been over on 31st December. Some assessees are happy with the decision given by Assessing officer and some are not happy or not satisfied by their decision. To deal with such situation, Income […]
The results of Chartered Accountants Intermediate (IPC) & Intermediate (New) Examination were declared today by the Institute of Chartered Accountants of India (ICAI). Chartered Accountants Intermediate (IPC) Examination held in November, 2018 I. Details of top three rank holders on All India Basis for Chartered Accountants Intermediate (IPC) Examination held in November, 2018 are mentioned […]
DLF Hotel Holding Case: Interest On Borrowed Funds Allowed As Deduction Under Section 36(1)(iii) Even If Some Of Funds Financed To Subsidiary Companies
Income on sale of a technical concept, that assessee developed on his own, with respect to website malware monitoring was non-compete fee taxable as business income under section 28(va) as the consideration was in respect of parting the knowledge by assessee concerning confidential information relating to the business.
M/s Janani Infrastructure Pvt. Ltd. Vs ACIT (ITAT Banglore) We have held that the sole basis of reopening of the assessment is the information received from the CBI. It is an undisputed fact that AO did not supply those materials to the assessee and also did not confront them with the assessee. Hence, we are […]
As per the discussion held during Judicial Conference held on 04.01.2019, a committee is being constituted to examine the suggestions/issues on litigation management emerging out of the Conference. The composition or the Committee is as follows:
Murtuza Shabbir Jamnagarwala Vs ITO (ITAT Pune) Conclusion: Assessee was entited for exemption u/s. 54B as the land transferred by assessee was “Jirayat” type of agricultural land and the same was cultivated land as “Jowar crop” was grown on the same in last four years in line. Held: Assessee, along with other two co-owners, entered […]
ACIT Vs Shri Punit J. Patel (ITAT Mumbai) In application u/s.154 of the Act, the assessee has asked for rectifying the addition made of long term capital gains on sale of shares of Tripex overseas as undisclosed income. It is the assessee’s claim that the AO has made addition of Rs.3,86,192/- alleged to be bogus […]
Cheryl J. Patel Vs ACIT (Bombay High Court) While discussing various issues, the Tribunal has not given any independent reasons showing consideration of the submissions made on behalf of the assessee. We are conscious of the fact that an appellate order which affirms the order of the lower authority need not be a very detailed […]
