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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 : This analysis explains how Parliament designed Sections 11 to 13 to ensure that tax-free income is ultimately used for charitable ...
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 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.
The issue was whether personal capital could be compared with partnership capital to infer unexplained credits. The Tribunal held the comparison flawed and upheld deletion of the Section 68 addition.
