Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.
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...
The ITAT held that documented share transactions through recognised exchanges cannot be treated as bogus without contrary proof. General investigation reports and suspicion were held insufficient to sustain additions.
Calcutta High Court held that reassessment proceedings initiated under section 148 of the Income Tax Act based on the same survey material which was already accepted by AO in earlier proceedings is not sustainable in law. Accordingly, reassessment proceedings cannot be sustained.
The Tribunal held that operational suspension and status quo directions do not permit nil valuation of stock. Proper valuation is mandatory under the mercantile system.
The ITAT held that once an assessee’s premises are searched, proceedings must be under Section 153A. Invoking Section 153C in such cases is a jurisdictional error.
The tribunal held that internal brand, communication, and technology support under a shared services framework does not involve transfer of copyright or know-how. As a result, such payments are not royalty and attract no TDS under section 195.
The ITAT held that a technical error in selecting an incorrect clause of section 12A(1)(ac) cannot justify rejection of registration. Where activities are genuine, authorities must allow rectification and decide the case on merits.
The tribunal ruled that buying property through a court-supervised auction does not shield a transaction from benami law. Where the lender’s creditworthiness and real source of funds are unproven, provisional attachment is valid.
The Tribunal examined whether reassessment beyond three years was valid when the assessed escaped income was only ₹13.98 lakh. It held that failure to meet the ₹50 lakh threshold under section 149(1)(b) rendered the reassessment without jurisdiction.
The Tribunal examined whether penalty could be levied for claiming excess deduction under sections 54F and 54B. It held that an inadvertent and promptly corrected mistake does not amount to concealment or furnishing inaccurate particulars.
ITAT observed that non-deliberate delay caused by administrative difficulties should not bar access to justice. Relying on Supreme Court precedents, the appeal was revived for merit-based adjudication.
