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Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...
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 : 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 dismissal for non-prosecution was invalid where notices were not served on the email ID specified in Form 35. Authorities must strictly follow the communication mode chosen by the taxpayer, failing which proceedings are vitiated.
Delhi High Court held that reference by Council of ICAI for suspension of name of CA from register of Member for period of one year is accepted since professional misconduct of CA i.e. manipulation of public issue and ante-dated stock-investment duly established.
Additions were deleted after finding that the Revenue relied on presumptions rather than tangible proof. The decision reinforces that the burden to prove undisclosed income lies on the tax authorities.
The case examined whether full purchase disallowance was justified without rejecting books of account. The Tribunal held that in such circumstances, only a reasonable profit element could be added.
Although the assessee quoted the wrong provision in the appeal form, the challenge was clearly against a scrutiny assessment. The Tribunal ruled that procedural lapses cannot defeat a valid statutory appeal.
The Tribunal found that estimating agricultural income solely on standard yield figures ignores real-world farming variables. The assessment was partly modified by limiting the addition to ₹50,000.
The Tribunal examined whether provision for salary arrears arising from the Sixth Pay Commission was contingent or accrued. It held that the liability had accrued for services rendered and was allowable as an ascertained liability.
The Tribunal ruled that VAT collected but not credited to the profit and loss account cannot be treated as taxable income. Once substantially paid to the government, such liability cannot be added again as trading receipts.
The issue was whether reassessment remains valid when no Section 143(2) notice is issued after a return is filed in response to Section 148. ITAT held such reassessment void, confirming that Section 143(2) is a mandatory jurisdictional requirement.
The Tribunal held that when the Assessing Officer disagrees with FMV supported by a registered valuer, a reference to the DVO is mandatory. Reliance solely on stamp duty rates was found improper, and the matter was remanded for fresh valuation.
