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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 Assessing Officer made an ALP adjustment on interest despite the assessee having already added back the full amount under thin capitalization rules. The Tribunal ruled that TP provisions cannot be applied where no expenditure is claimed.
ITAT held that penalties under sections 271D and 271E cannot survive once the underlying additions are deleted. The ruling confirms that penalties collapse with the quantum.
Alleged additions for suppressed sales, disallowances, and capital gains were rendered void once the revision order was quashed. The case underscores the doctrine of consequential invalidity.
ITAT Pune held that penalty not leviable under section 270A of the Income Tax Act since show cause notice failed to specify the applicable limb u/s. 270A(9) under which the penalty was imposed. Accordingly, penalty is quashed and appeal is allowed.
The Bombay High Court ruled that a special audit under Section 142(2A) cannot stand where the mandatory approval lacks a DIN. The absence of DIN renders the approval non-existent in law, making the entire proceedings void from inception.
The ITAT held that assessments framed beyond the permissible ten-year block under Section 153C are without jurisdiction. Since the satisfaction note fixed the deemed search year later, earlier years were invalidly assessed.
The Tribunal ruled that absence of DIN on Section 143(2) notices vitiates jurisdiction under Section 147. All reassessment orders were quashed as legally unsustainable.
The Tribunal directed normal taxation, holding that Section 115BBE could not be invoked for the year involved. This reinforces the prospective operation of the higher tax regime.
The Tribunal held that a notice under Section 143(2) issued by a non-jurisdictional officer vitiates the entire assessment. In the absence of a valid jurisdictional transfer, the reassessment was declared non-est in law.
The ruling confirms that Section 14A cannot be invoked mechanically without actual expenditure linked to exempt income. Growth mutual funds earning taxable gains fall outside its scope.
