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Income Tax : Failure to file ITRs can result in interest, late fees, loss of refunds, and missed tax benefits. Beyond taxation, it may also aff...
Income Tax : Increasing use of RERA data by tax authorities makes alignment between project disclosures and income tax reporting essential to a...
Income Tax : Taxpayers are facing confusion following the introduction of the Income-tax Act, 2025. The key clarification is that income earned...
Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...
Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
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 ruled that Section 153C requires the AO of the other person to independently assess whether seized documents have a b...
Income Tax : Jaipur ITAT held that reassessment proceedings were invalid because the Assessing Officer mechanically relied on Investigation Win...
Income Tax : The Tribunal ruled that third-party WhatsApp messages and decoded chat entries lacked evidentiary value against the assessee witho...
Income Tax : The Tribunal ruled that technical lapses in e-verification cannot override a taxpayer's lawful entitlement to a refund. Once the d...
Income Tax : The Tribunal ruled that reopening proceedings cannot survive where the mandatory sanction under Section 151 is not obtained from t...
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...
CIT Vs. S. Vijaya Kumar (Andhra Pradesh High Court) Individual items of centering and shuttering material used collectively in construction process constitute ‘Plant’ in terms of first proviso to section 32 (1), even if they can’t be used on stand alone basis.
In the case of M/s Sharma East India Hospitals & Medical Research Ltd vs. DCIT, ITAT Jaipur held that disallowance out of unverifiable purchases may be restricted to 15% following the consolidated order in the cases of Sh. Anuj Kumar Varshney and ors. Vs. ITO, ITA No. 187/JP/2012
ITAT held in ITO Vs General Manager Bharat Sanchar Nigam Ltd that the incentive offered by the BSNL to its franchisee was in the nature of trade discount not in the nature of commission because after the payment made by the franchisee to the BSNL all risks and rewards relate to the franchisee.
225/148/2015-ITA-II Expeditious disposal of applications for rectification under section 154 of the Income-tax Act, 1961 (Act) during the Financial Year 2015-16 – reg.- Union Finance Minister in his key-note address has also exhorted the Income-tax Department to be prompt in redressing the grievances of taxpayers. It has been a matter of concern that the rectification applications as 154 filed by the taxpayers before the field officers are not being dealt with promptly.
In the Case of ITO-TDS vs. BSNL, the Hyderabad Tribunal observed that the relationship between the BSNL and the franchisee was recognised by the CBDT by inserting third proviso to S.194H. The assessee being public sector undertaking stands on a different footing and the view taken by Delhi High Court
ITAT Ahmedabad held In the case of Amar Enterprise vs. ITO that in the present case, the AO has demonstrated that the assessee has continued business transactions with the concerned party. It is also not disputed that the assessee has received payments from the concerned party.
ITAT held in Manikanta Concerns Vs DCIT that if the assesse had claimed deduction of shortage in weight or quality at the time of purchase then it did not mean that assesse could not claim deduction of shortage in weight or quality at the time of sale.
In deciding the exemption u/s 54F in the case of Sri M.S. Lakshmana Rao vs. DCIT, Hyderabad Tribunal held that non-compliance to condition of depositing sale proceeds in capital gain account scheme as required u/s 54 will not be so fatal to debar the assessee from getting benefit of section 54F.
In the case of Shri Ajay Kumar Choudhary Vs. Union of India. Hon’ble Apex Court has laid down the following principles in para 14 of the judgment: – a) The direction of the Central Vigilance Commission that pending a criminal investigation, departmental proceedings are to be held in abeyance, is now superseded. b) The currency of a Suspension Order should not extend beyond three months if within this period the Memorandum of Charges/Charge sheet is not served on the delinquent officer/employee.
ITAT Hyderabad held in Shri M.S Lakshmana Rao Vs DCIT that if the assesse had not deposited the capital gain amount under the capital gain account scheme in bank then the assesse should not be barred of the exemption of sec 54
