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Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
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 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 Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
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...
Payments for sports sponsorship that grant global trademark usage can be split as royalty. Courts upheld withholding where trademark rights were substantive, not incidental.
The case explains how residency is determined under Indian tax law using stay-based and income-based tests. The key takeaway is that even limited presence or high Indian income can trigger tax residency consequences.
The Tribunal held that it was unclear whether the ₹20 lakh receipt was a loan or a property advance and remanded the matter for fresh examination. The ruling underscores that section 68 additions depend on establishing the true character of the receipt through contemporaneous evidence.
The case examines how tax authorities can access electronic and online data once a “reason to believe” threshold is met, highlighting risks to digital privacy and compliance.
The ruling confirms that notional disallowances under Section 14A cannot be added while computing book profits under the MAT regime.
The ITAT ruled that long-term capital gains cannot be treated as bogus solely on suspicion when transactions are supported by proper banking, demat, and broker records.
The assessee neither filed returns nor responded to statutory notices, yet additions were deleted on appeal. ITAT held that absence of verification of source and compliance makes such deletion unsustainable.
The assessment proceeded on a fundamentally incorrect factual premise regarding the date of deposit. ITAT ruled that such an error warrants remand for fresh examination of cash source and sales genuineness.
The reassessment was triggered without examining invoices, bank entries, TDS data, or business records. The Tribunal held that mechanical reopening based on external information is bad in law.
The Tribunal examined whether reassessment could stand when based on information relating to another individual. It held that reopening was invalid due to absence of any tangible material against the assessee.
