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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...
Madras High Court held that compounding charges payable by petitioner as per revised Guidelines dated 17.10.2024 is unsustainable since on the date of writ order i.e. 13.04.2022, the revised guidelines was not in force. Accordingly, writ petition deserved to be allowed.
The reassessment is challenged as being founded solely on an unauthenticated photocopy with no corroboration. Such material fails the “reason to believe” test and vitiates jurisdiction.
The writ was filed long after appellate orders were passed and without approaching ITAT. The Court held that delay and failure to exhaust statutory remedies disentitled the assessee from writ relief.
The dispute concerned denial of TDS credit solely due to non-reflection in Form 26AS. The Tribunal held that Form 26AS is not conclusive and factual deduction of tax overrides system mismatch.
Despite Form 10E being duly filed online, the claim under section 89(1) was rejected on technical grounds. The Tribunal held that such rigidity defeats justice and directed the AO to examine the claim afresh.
The Revenue relied on alleged ₹4 crore unexplained investment to justify reopening beyond six years. The Tribunal ruled that even high-value allegations cannot override statutory limitation under section 153C.
The association’s surplus was not distributable to members and activities were non-profit. The ITAT ruled that these factors support charitable character and restored the case for re-evaluation.
The Revenue invoked section 115BBE on alleged unexplained cash. The Tribunal held the provision to be prospective and barred its application for the year under appeal.
Demonetisation-era jewellery sales were questioned as invoices mentioned buyers only as cash. The ITAT remanded the matter to verify buyer identity, stock linkage, and genuineness before sustaining any addition.
Though some estimation was justified after rejection of books, a flat 1% rate was found arbitrary. The ITAT reduced the estimate to 0.50% aligned with prior years’ margins.
