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Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
Income Tax : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...
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 : ITAT Mumbai noted that the excel sheets relied upon by the Revenue had not been established in accordance with legal requirements ...
Income Tax : ITAT Mumbai held that an addition based solely on a builder's statement could not survive without evidence directly linking the as...
Income Tax : The ITAT Delhi held that reassessment under Section 147 was invalid because the Assessing Officer merely relied on an investigatio...
Income Tax : ITAT Delhi held that television channel and content owner companies could not be compared with a content distribution business. Th...
Income Tax : ITAT Mumbai held that distribution fees paid to associated enterprises could not be treated as royalty. The Tribunal followed earl...
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 guide explains that many income tax notices are generated automatically due to mismatches, filing errors, or compliance verification. It highlights the importance of understanding the notice type and responding correctly through the e-filing portal.
The Delhi ITAT deleted addition made under Section 68 on alleged bogus purchases linked to accommodation entry providers. The Tribunal held that purchases and corresponding sales were already recorded in the books, leaving no basis for separate addition under Section 68.
The Tribunal held that reassessment proceedings initiated against a deceased person are void ab initio. Since the department had prior knowledge of the death, failure to issue notice to the legal heir made the assessment invalid.
Ahmedabad ITAT held that cost of improvement could not be disallowed solely because suppliers’ VAT registrations were later cancelled retrospectively. The Tribunal remanded the matter for verification of supporting purchase and transportation documents.
The Tribunal noted that an adjustment under Section 35(1)(iv), already dropped during CPC processing, was later included in assessment computation without fresh notice to the assessee.
Mumbai ITAT held that disallowance under Section 40(a)(ia) cannot be made where expenditure remains part of work-in-progress and is not claimed in the profit and loss account. The Tribunal upheld adjustment of WIP instead of direct addition to income.
Agra ITAT held that the bank was liable under Section 201 for non-deduction of TDS on LFC involving foreign travel because no branch-specific interim judicial order was produced. The Tribunal distinguished earlier rulings that had granted relief based on specific High Court directions.
The Kolkata ITAT held that reassessment proceedings were invalid where the reasons initially supplied related to a different company and the reopening was based on mechanical satisfaction. The Tribunal ruled that borrowed satisfaction without independent application of mind cannot justify reopening under Sections 147 and 148.
The Tribunal ruled that once transfer was held to have occurred in 1993 through the sale agreement, the Assessing Officer could not tax capital gains in Assessment Year 2007-08.
The Tribunal held that accounting treatment in the Profit and Loss Account does not determine taxability of a receipt. Principal loan waiver remained non-taxable despite being shown as extraordinary income in accounts.
