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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 Tribunal held that when sales are accepted and books of account are not rejected, the entire amount of disputed purchases cann...
Income Tax : The Tribunal ruled that the guideline value recorded in a registered document is not conclusive for computing capital gains if the...
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 : 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 DEPB income forms part of operating export income and cannot be excluded from turnover merely on a different view. Revision under section 263 was found unjustified where the original assessment involved due application of mind.
The High Court held that refunds cannot be adjusted against a demand already stayed by the Assessing Officer. It directed refund of amounts adjusted despite the assessee being treated as not in default.
The Tribunal held that reopening based only on generalized information about a scrip, without independent inquiry or linkage to the taxpayer, is invalid. Entire addition on alleged bogus LTCG was deleted.
The High Court stayed reassessment proceedings after noting that the legality of Section 148 notices is under consideration before the Supreme Court. The key takeaway is that proceedings must await the apex court’s final ruling.
The court held that repeated resignation of key accounts staff constituted genuine hardship. Rejection of delay condonation under Section 119(2)(b) was set aside, directing acceptance of the belated return.
High Court held that a final assessment order passed without awaiting DRP directions violates section 144C. Such non-compliance rendered the assessment order non est and liable to be quashed.
The Tribunal examined whether a penalty could survive despite an allegedly vague notice. It held that since the assessment order and later notices clearly specified furnishing of inaccurate particulars, the penalty was valid.
The court ruled that invoking an inapplicable statutory provision vitiates revision. Proper identification of the governing section is mandatory before exercising revisional powers.
The High Court upheld the Tribunal’s decision restricting disallowance on alleged bogus purchases to 6 percent. It held that the issue was already settled in the assessee’s own earlier year and raised no substantial question of law.
The issue was whether religious objects alone could defeat an 80G claim. The Tribunal ruled that compliance with the 5% expenditure limit requires fresh examination.
