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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...
ITAT ruled that an appeal cannot be rejected mechanically on alleged defects when records show compliance. The case was remanded for fresh, reasoned adjudication after proper hearing.
The issue was whether reassessment notices issued after April 2021 were valid. The Tribunal held that notices issued beyond the surviving time limit were barred, rendering all reassessment proceedings void.
The assessee sought relief citing internal lapses and adviser dependence. The Tribunal ruled that consistent audits and filings undermined claims of ignorance. Long delays require specific, convincing justification, which was absent.
The PCIT sought to revisit claims already scrutinized and partly disallowed. The Tribunal ruled this to be a change of opinion and invalid. Revision demands clear error and prejudice, not reappraisal.
Accepting the assessee’s explanation for delay and non-appearance, the Tribunal condoned the delay and set aside both lower orders. The AO was directed to re-decide the issue of cash deposits after proper hearing.
Madras High Court held that grant-in-aid/ subsidy received from the Government under a rehabilitation scheme is capital receipt and cannot be treated as revenue receipt. Accordingly, question of law is answered in favour of appellant.
Demonetisation cash deposits cannot be taxed merely on suspicion when supported by statutory VAT/Excise records, sales growth, and business expansion. Rule 46A(4) empowers CIT(A) to call for such evidence without triggering procedural violations.
The government has notified approval under Section 35(1)(ii), allowing donors to claim income-tax deductions for eligible scientific research contributions.
The government has approved an institution for scientific research under Section 35(1)(ii), allowing eligible tax deductions for donations from AY 2026–27 to 2030–31.
Rejecting a summary denial of deductions, the Tribunal restored the issue to the AO to verify whether mortgage repayments and other costs were wholly connected with the transfer. Taxpayers were directed to cooperate and file complete evidence.
