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Income Tax : The article explains how accurate Form 10BD reporting protects donor deduction claims, prevents penalties, and ensures consistency...
Income Tax : The article explains what remains unchanged under the new tax law while highlighting critical compliance checks taxpayers should u...
Income Tax : The provisions under Sections 80C, 80D, 80DD, and 80DDB provide tax deductions because taxpayers incur eligible expenses on life i...
Income Tax : AO rejects books of accounts and applies flat net profit rate. Can taxpayer claim depreciation separately or is it embedded in tha...
Income Tax : The updated provisions explain how long-term capital gains are classified, computed, and taxed following amendments introduced by ...
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 Delhi ITAT held that electricity charges paid to statutory authorities in the ordinary course of business qualify as deductibl...
Income Tax : The ITAT Bangalore held that additions under Section 68 could not be sustained without proper examination of bank statements, PAN ...
Income Tax : The High Court held that appeals concerning the adequacy of sentence should be presented before the jurisdictional Sessions Court....
Income Tax : The Court held that transferring assessment proceedings under Section 127 was justified to facilitate coordinated investigation in...
Income Tax : The Court held that transfer of assessment proceedings to Delhi was justified where connected cases had already been centralized f...
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 inadvertent mistakes in filing Form 10AB cannot defeat a trust’s right to exemption. Registration was directed where objects and activities were never disputed.
The Tribunal held that a continuously maintained ledger found during search constituted reliable evidence. Additions for unexplained expenditure under section 69C were sustained based on corroborated diary entries.
The issue was whether a WhatsApp image from a third party could justify a cash addition. The Tribunal held the digital evidence inadmissible due to lack of lawful collection and chain of custody, deleting the addition.
The reassessment was annulled after the notice was found procedurally defective. The Tribunal affirmed that binding High Court precedent required issuance by a faceless AO.
The Tribunal held that once a Section 263 revision is set aside, the consequential assessment has no legal existence. All proceedings based on such assessment automatically collapse.
Penalties were imposed for cash transactions during the first year of business. The Tribunal found bona fide circumstances and no tax-evasion intent, granting relief under section 273B. The ruling underscores liberal interpretation of reasonable cause.
Holding Section 54F to be a beneficial provision, the Tribunal applied settled judicial principles to allow exemption where substantive conditions were met, directing deletion of the capital gains addition.
The reassessment was initiated beyond the permissible time frame. The Tribunal declared the entire proceedings void from inception. The key lesson is that jurisdictional defects render reassessments unenforceable.
The Tribunal held that reassessment fails when the show-cause notice is issued on an incorrect factual premise. Jurisdiction under section 147 collapses if the foundation under section 148A is flawed.
The Tribunal held that when stamp duty value is disputed, the Assessing Officer must refer the matter to the DVO. Fair market value determination is mandatory before sustaining a Section 50C addition.
