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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 : The Tribunal ruled that vague information and an excel sheet prepared by the Investigation Wing could not satisfy the statutory re...
Income Tax : ITAT Mumbai noted that the excel sheets relied upon by the Revenue had not been established in accordance with legal requirements ...
Income Tax : ITAT Mumbai held that an addition based solely on a builder's statement could not survive without evidence directly linking the as...
Income Tax : The ITAT Delhi held that reassessment under Section 147 was invalid because the Assessing Officer merely relied on an investigatio...
Income Tax : ITAT Delhi held that television channel and content owner companies could not be compared with a content distribution business. Th...
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 Chhattisgarh High Court upheld deletion of ₹15.94 crore addition after finding no adverse material supporting allegations of suppressed production and unaccounted sales. The Court reaffirmed that assessments cannot be based on mere assumptions or estimated yield comparisons.
Delhi ITAT held that revision under Section 263 was invalid because the Assessing Officer had already made additions on the exact issue for which reassessment was reopened. The Tribunal ruled that the reassessment order was not erroneous or prejudicial to Revenue.
The Tribunal held that documents relating to payments made to suppliers such as TS MARKFED and Sri Venkateshwara Agencies required proper verification. The case was remanded to the AO for fresh adjudication.
The Supreme Court dismissed the Special Leave Petition challenging pay stepping-up relief granted to senior employees. The ruling left intact the Rajasthan High Court and CAT orders directing removal of salary anomalies between seniors and juniors.
Mumbai ITAT held that CIT(A) cannot dismiss Mechanically an appeal solely on delay grounds without adjudicating the issues raised on merits. Tribunal condoned delay after noting that the assessee’s father had passed away and directed fresh disposal on merits.
Pune ITAT held that penalty proceedings under Section 271(1)(c) cannot continue against legal heirs when initiated after the assessee’s demise. The Tribunal ruled that legal representatives are not personally liable for such penalty proceedings under Section 159.
Pune ITAT restored the matter to the CIT(A) after the assessee argued that adequate opportunity was not provided to explain the source of funds received. The Tribunal directed fresh adjudication with proper hearing and liberty to file supporting evidence.
Pune ITAT upheld revision under Section 263 after finding that the Assessing Officer failed to fully verify expenditure claims unsupported by vouchers. The Tribunal held that random verification was insufficient where substantial cash expenses were claimed.
AI-driven scrutiny and AIS integration are increasing Income Tax notices where property transactions occur below stamp duty value. Both buyers and sellers may face taxation under Sections 50C and 56(2)(x).
This case highlights that cash paid to builders as “on-money” will not automatically be treated as tax evasion if it originates from disclosed bank funds. However, buyers must prove the source with proper documentation to avoid tax additions.
