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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 Rajasthan High Court held that an order restoring appeals through review proceedings is not separately appealable under the Be...
Income Tax : The Tribunal found that the authorities below failed to properly apply the principles governing section 80P deductions relating to...
Income Tax : The ruling emphasizes that undisclosed business receipts and stock arising from an existing business cannot automatically be chara...
Income Tax : Addition of ₹90 lakh made under section 69A towards alleged cash payment for purchase of property as well as the addition made u...
Income Tax : The Tribunal noted that donations to Swachh Bharat Kosh and Clean Ganga Fund made towards CSR obligations are specifically exclude...
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 no interest disallowance can be made when ample interest-free funds are available. The key takeaway is that diversion cannot be presumed without establishing a nexus with borrowed funds.
The Tribunal considered whether disallowance under section 14A was justified merely because exempt income was earned. It ruled that without corresponding investments in the assessee’s books, section 14A cannot be invoked.
The Tribunal held that issuing a Section 143(2) notice is compulsory once a return is filed under Section 148. Absence of such notice vitiates jurisdiction and nullifies the reassessment.
The ruling clarified that the Finance Act, 2021 amendment applies only from AY 2022–23. For earlier years, exemption cannot be denied by treating the amendment as retrospective.
The ITAT held that reassessment proceedings remain valid even if no separate addition is made on the original reopening issue. The key lesson is that voluntary disclosure by the assessee satisfies the reopening requirement.
Rejecting the revenue’s digital-era argument, the Tribunal held that taxpayers need reasonable time to compile records. The matter was sent back for fresh assessment.
The Tribunal held that only unreconciled Form 26AS entries could be taxed while verified reimbursements deserved relief. It also ruled that godown rent already netted in business income could not be taxed again.
The Tribunal ruled that the first appellate authority lacks power to dismiss appeals solely for non-prosecution. Appeals must be decided on merits with reasoned findings.
The Tribunal held that reassessment proceedings initiated after the statutory limitation period were invalid. Following the Supreme Courts ruling on reassessment timelines, the entire reopening and resulting additions were quashed.
The Tribunal held that an addition based solely on third-party search material without corroboration is unsustainable. With payments proved through banking channels, the cash allegation failed.
