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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 : 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 : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...
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 : ITAT Chandigarh held that the assessee could not establish the authenticity of the purchase transactions underlying the LTCG claim...
Income Tax : The High Court upheld denial of Section 10(38) exemption after concurrent findings established that the share transactions lacked ...
Income Tax : The Delhi High Court upheld the denial of Section 10(38) exemption after finding that the authorities had rightly treated the shar...
Income Tax : The High Court held that issuing a demand notice along with a draft assessment order violated the mandatory procedure under Sectio...
Income Tax : The Court found that the ITAT wrongly held there was no business income despite the assessment record showing income under “Busi...
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...
Supreme Court held that deduction under section 36(1)(viii) of the Income Tax Act is not general exemption. Such deduction is specific incentive attached strictly to the profits arising from a defined activity namely, the provision of long-term finance.
The Tribunal ruled that the appellate authority erred by admitting new documents without a Rule 46A application or giving the Assessing Officer a chance to rebut them.
The issue was whether reassessment and appellate orders could stand when participation was ineffective and grounds remained undecided. The Tribunal ruled that justice required restoration of the case to the Assessing Officer.
The issue was whether CBDT monetary limits barred the revenue appeal. The Court held that organised tax evasion and accommodation entry cases are carved out exceptions, defeating the low tax effect argument.
The dispute involved taxing a foreign investment as unexplained income. The Tribunal clarified that Section 69 applies only where investments are not recorded in books or the source remains unexplained.
Bogus Donation Claims Detected—Opportunity Given to Fix Returns: Analytics spotted questionable donation deductions and other exemptions. Taxpayers can revise returns to regularize claims and reduce follow-up enquiries.
The Delhi High Court held that a withholding tax certificate cannot stand once the ITAT sets aside the finding of a dependent agent PE. Since the Revenue relied solely on quashed assessment orders, the 8.75% TDS was invalid.
The Delhi High Court held that expiry of 120 days under Section 132B does not trigger automatic release of seized assets. The only consequence of delay is interest liability, reaffirming that AO’s satisfaction is essential.
The Tribunal ruled that once income has suffered tax in the hands of the real recipient, TDS credit cannot be withheld on technical grounds.
The ITAT held that revision is invalid when invoked merely to re-examine an issue already scrutinised by the Assessing Officer.
