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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 Tribunal held that compensation received for unauthorised occupation merely substitutes lost rent. Since the property remained intact, the receipt was taxable as revenue income under Section 23(1).
ITAT held that assessing an AOP without initiating reassessment proceedings against it is impermissible in law. The entire reassessment was declared non-est and additions were deleted.
The Tribunal restricted additions on demonetization-era cash deposits where books were audited and not rejected. Only a nominal amount was sustained to balance equity.
The Tribunal ruled that denial of Section 54F relief without proper verification was premature. The Assessing Officer must re-examine ownership and payment evidence before deciding the claim.
The Tribunal held that a loan repaid through banking channels cannot be treated as unexplained when identity and creditworthiness are shown. Allegations based on untested statements were rejected.
The dispute centered on whether commission recipients actually rendered services. The tribunal ruled that in absence of summons, rejection of books, or contrary evidence, the expense could not be disallowed.
Interest received under Section 28 of the Land Acquisition Act was held outside the scope of Section 10(37). The Tribunal clarified that only compensation qualifies for exemption, not interest.
The Tribunal held that employee stock option plan costs are allowable revenue expenditure. Following binding High Court precedent, the ₹93 lakh disallowance was deleted.
ITAT held that reassessment notices issued after the permissible limitation period were invalid. Applying the Supreme Court’s ruling in Rajeev Bansal, all proceedings were quashed as being beyond jurisdiction.
The Tribunal held that the Assessing Officer failed to apply amended provisions taxing interest on enhanced compensation. Revision under Section 263 was upheld as the assessment was erroneous and prejudicial to revenue.
