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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...
ITAT Jaipur held that application for approval under section 80G inadvertently considered as application under section 12AB of the Income Tax Act is against principle of natural justice. Accordingly, matter restored back to CIT(E).
The dispute concerned rejection of explanation for cash deposits due to lack of documentation. The Tribunal ruled that evidence relating to sale of inherited assets was vital and must be examined afresh by the tax authorities.
Delhi High Court held that internal disputes among company directors do not justify condonation of delay in filing ITR, upholding statutory compliance requirements.
The ITAT held that penalty under Section 271(1)(c) fails where the notice alleged inaccurate particulars but the levy was based on concealment.
The ITAT set aside the appellate order after finding that the appeal was dismissed without proper hearing or examination of the assessee’s case.
The case addressed whether recorded purchases of ₹4.55 crore could still be treated as unexplained income. The Tribunal held that without evidence of off-book investments, section 69 has no application.
ITO Vs Srichand Mandhyan (Supreme Court of India) Supreme Court considered a Special Leave Petition challenging an order passed by the Bombay High Court. After hearing the learned counsel for the parties and examining the material on record, the Supreme Court found no valid ground to interfere with the High Court’s decision. Accordingly, the Special […]
Bombay HC held that reassessment notices issued with sanction under an incorrect statutory provision are invalid, leading to quashing of notices, assessments, and consequential demands.
The Tribunal ruled that payments for IPL and MPLS bandwidth services do not constitute royalty under section 9(1)(vi) or Article 12(3) of the India-Singapore Tax Treaty, following consistent earlier rulings.
Buyers of property from Non-Residents must deduct TDS under Section 195, with rates up to 30% for STCG and 20% for LTCG, emphasizing the importance of compliance to avoid penalties.
