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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...
he tribunal held that reassessment notices issued by the jurisdictional assessing officer instead of the faceless authority violate the mandatory faceless assessment framework. Such jurisdictional defects render the entire reassessment proceedings void ab initio.
Explains why TCS under section 206C(1G) applies to overseas remittances and tour packages. The key takeaway is that TCS is a reporting mechanism, adjustable or refundable, not a final tax cost.
The notification grants statutory approval for scientific research under section 35, enabling tax deductions for eligible donations.
The High Court held that prosecution was invalid because the officer who filed the complaint lacked authority under the sanction granted, reinforcing that sanction is a jurisdictional prerequisite.
The Tribunal held that the tax department cannot substitute actual sale consideration with a notional market price without express legal provision, and deleted the entire addition.
The Tribunal upheld addition of demonetisation cash deposits after rejecting the claim that funds came from old cash withdrawals. Mere assertion of past withdrawals, without evidence of cash retention, was held insufficient.
The Tribunal found the appellate order mechanical where Rule 46A evidence was filed but not examined. The matter was sent back for fresh adjudication after proper verification.
The Tribunal held that compensation received under interim court orders is contingent and does not accrue as income. Taxability arises only in the year when litigation is finally settled and the amount crystallises.
The Tribunal held that the enhanced 60% tax rate cannot apply to transactions before 01.04.2017. For AY 2017-18, unexplained cash additions relating to earlier transactions are taxable only at 30%.
The Tribunal ruled that once an appeal is rejected as time-barred, the appellate authority cannot adjudicate it on merits. A contradictory approach violates jurisdictional discipline and warrants remand.
