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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 tribunal held that penalty under Section 270A cannot be levied where the assessee voluntarily withdrew the education cess claim after a retrospective amendment. A bona fide claim made on prevailing judicial views does not amount to under-reporting or misreporting.
The case examined penalty levied on estimated additions and statutory disallowance. The Tribunal held that neither category amounts to concealment or inaccurate particulars.
The decision underscores that ignoring audited disclosures, ledgers, and salary records violates principles of natural justice. Once actual payment is proved, gratuity deduction must be allowed.
The issue was an appellate order passed with facts, year, and income of another assessee. The Tribunal held the order void and directed a fresh decision in the correct case.
ITAT held that when the same property valuation has been accepted in co-owners’ cases, a contrary view cannot be taken for another co-owner. Consistency in tax treatment is mandatory.
The tribunal held that suspicion, abnormal price rise, or third-party reports are insufficient to deny LTCG exemption. Revenue must establish direct involvement of the taxpayer in price rigging.
The Tribunal held that once the assessee proves identity, genuineness, and source through documents and bank records, the burden shifts to the Revenue. Without rebuttal of evidence, addition under Section 68 cannot survive.
ITAT ruled that the AO’s omission to apply TDS provisions on freight charges warrants revision. Proper application of statutory disallowances is mandatory in reassessment proceedings.
The issue was whether a penalty can survive when the notice does not specify the exact charge. The Tribunal held that a vague notice vitiates the entire penalty proceedings, even where AMT liability exists.
The Tribunal found that key evidences furnished by the assessee were not adequately considered by lower authorities. The issue was restored to ensure fair examination and compliance with natural justice.
