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Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...
Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...
Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...
Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...
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 Jodhpur ITAT held that deduction under Section 80GGC cannot be denied merely on allegations against a political party in the a...
Income Tax : Assessment orders passed pursuant to express liberty granted by the High Court during pendency of settlement-related litigation re...
Income Tax : The ruling emphasizes that undisclosed business receipts and stock arising from an existing business cannot automatically be chara...
Income Tax : The Tribunal held that when sales are accepted and books of account are not rejected, the entire amount of disputed purchases cann...
Income Tax : The ITAT Pune held that the CIT(A)/NFAC cannot dismiss an appeal merely for non-prosecution without adjudicating the issues on mer...
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...
Notification No. 34/2011- Income Tax – In exercise of the powers conferred by clause (6C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies that any income arising to M/s. Rolls Royce Defense Services Inc., with principal place of business at 2001, South Tibbs Avenue, Indianapolis, Indiana 46206, USA for maintenance of aero engines (IAE 3007 AIE Engines) fitted in Embraer Aircraft, by way of royalty or fees for technical services received in pursuance of the agreement vide Contract No. Air HQ/8836/RR/Eng B between M/s. Rolls Royce Defence Services Inc. and Ministry of Defence signed on the 12th December, 2005 to an extent of Rs. 35.43 crores shall not be included in computing the total income of said company under the said Act.
CIT v Shivalik Hatcheries Pvt. Ltd. – ITAT, on the basis of the material placed before it came to the conclusion that the building of the poultry shed has been specifically designed with a view to protect the birds from disease. It has been designed to ensure proper lighting and circulation of air; proper and scientific feeding arrangement; proper water system; proper arrangement for collection of manure and droppings; proper arrangement for medication and vaccination; and a right environment conducive for laying of eggs by the birds. The building had been designed in a manner so as to protect the birds and increase their productivity. The argument made on behalf of the revenue that the building can be used with certain modification for certain other purposes cannot be accepted. It is how the building is designed which is the main factor which is to be taken into consideration. The law is clear that if it is found that the building has been designed specifically to further the cause of manufacture or production then the same is a plant. Applying the aforesaid test, we hold that the poultry sheds are plant within the meaning of section 243, as it then stood.
ITAT Delhi has recently pronounced its ruling in the case of ST Microelectronics Private Limited v. CIT(A), wherein it upheld the revenue’s rejection of transfer pricing analysis undertaken by the taxpayer since the taxpayer had improperly characterized itself as a low-risk software service provider and accordingly, selected wrong comparables for the transfer pricing analysis. Besides, the decision also reiterates that it is a mandatory requirement of Rule 10B(4) of the Income-tax Rules 1962 [“the Rules”] to use current year data for comparability analysis.
Recently ITAT Mumbai in the case of Bechtel International Inc., USA v. ADIT held that mere inactivity for a limited period does not mean that the taxpayer’s business ceased to exist or that it did not carry on any business at all. Expenditure incurred during the said period of inactivity / lull is allowable even though the taxpayer has not earned any business income.
The Swiss Parliament today gave approval to amendments to tax treaties with countries, including India, making it easier for to access information about the illegal funds held by their nationals in Swiss private banks. The upper house of the Swiss Parliament endorsed amendments to double-taxation agreements in line with internationally applicable standards.
DCIT, Haldwani Vs Shri Om Prakash Bhargava (ITAT Delhi) – Assessing Officer estimated the income on the basis of general information from Chief Agriculture Officer which was never confronted with assessee. Further such general information was with respect of earning from grain crop. But assessee was growing flowers and decorative plants which have been accepted by the revenue in past years. The assessee is holding the land of 24 bighas. Income of Rs.4,26,000/- have been accepted in the immediate preceding year, i.e. 2004-05. In this year, income from agriculture is only Rs.2,50,000/-. Considering all these relevant facts and the pleadings of the assessee, we find that the CIT(A) has rightly accepted the claim of the assessee and we sustain the same on the issue.
Pushpsons International Vs ACIT (ITAT Delhi) – The agreement to serve has not been placed on record and its terms have not been paraphrased in any submission. Further, it has not been shown that the understanding, if any, came to an end only when he became a partner and not when he left India. Factually, no service has been rendered to the assessee in the period of absence for education. Therefore, it is held that the disallowance of Rs. 36,000/- was rightly made.
CIT vs. Dinesh Kumar Goel- The assessee running coaching classes followed mercantile system of accounting. Total fees for the entire course, which may be of two years duration was taken in advance at the time of admission of the students. For the A.Y. 1997-1998, the assessee claimed that the fees received in the relevant year were to be carried forward to the next assessment year as they related to the next financial year. The Assessing Officer rejected the claim on the ground that the assessee was following the mercantile system of accounting. The Tribunal allowed the assessee’s claim.
Ramalingam Charities Vs CIT, Salem (Madras High Court) – Tribunal considered the claim of the revenue as well as the assessee and pointed out that having regard to the fact that the Trust deed was not existing solely for the educational purposes and that the trust had engaged itself in other activities by running orphanages, Kalyana mandapam, money lending business, etc., it cannot be held that the Trust was one solely carrying on the activities of educational institutions. The Tribunal further pointed out that having regard to the fact that the assessee had not fulfilled the conditions laid down under Section 11(5) of the Act and had diverted the funds to its sister concern, the assessee was not entitled to the exemption under Section 11 and 12 of the Act. Honourable HC also held that since the assessee has not satisfied the requirement under Section 11(5) to claim benefit under Section 12 of the Act so not eligible to claim exemption u/s 11 and 12 for amount received as corpus fund.
CIT, Meerut v The District Excise Office (Allahabad High Court) – The argument of the learned senior standing counsel that Section 206C does not find place in any of its clauses of sub section (1) and therefore, the appeal is not maintainable ignores the clause referred to above in Sections 246 and/or 246A of the Act. The clause referred to above does not relate to any particular section of the Act. It will be attracted subject to fullfilment of its ingredients. It is in the nature of a residuary clause and gives a right to an assessee to challenge an order by way of appeal if he is so aggrieved subject to the condition that he denies his liability to be assessed under the Act.
