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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 emphasized that detailed quantitative reconciliation and accepted export realizations carried substantial evidentiary...
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 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 case examined the effect of prolonged departmental inaction after a Tribunal remand. The Court ruled that since the statutory time limit had long lapsed, nothing survived for adjudication.
The issue concerned summons issued during an ongoing enquiry into a complaint. The High Court held that no intervention was required while the enquiry was in progress.
The Court found that intimations under Sections 143(1) and 154(3) were not communicated due to technical reasons. The matter was remitted for fresh consideration after a revised audit report was filed.
The issue was whether cash deposited during demonetisation could be treated as unexplained. The Tribunal held that when sales are supported by available stock and recorded books, cash receipts from such sales cannot be added under Section 68.
The Tribunal held that amendments to Section 11 cannot retrospectively curtail the utilization window for earlier accumulations. Existing accumulations remain governed by the law in force at the time they were made.
The Tribunal upheld restriction of disallowance where interest-free funds were higher than tax-free investments. It reaffirmed that no interest disallowance arises in such circumstances.
The Tribunal held that when interest-free funds exceed exempt-income investments, no interest disallowance under Section 14A can be made. The ruling reinforces the presumption laid down by the Supreme Court.
The courts held that when depreciation on goodwill is allowed after detailed examination, the assessment cannot be revised as erroneous. The key takeaway is that a plausible and informed assessment order bars revision under Section 263.
Authorities cannot insist on adding an irrevocable clause in trust deeds for Section 12A renewal when the trust is otherwise legally irrevocable. Renewal should depend on substance, not form.
Capital gains exemptions on property sales often lead to litigation due to Section 54 timelines and unclear date of transfer in transactions.
