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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 : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
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 : 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 remanded the case as NFAC passed an ex parte order despite notice issues and held that a combined reassessment and ITAT effec...
Income Tax : ITAT Delhi held that interest expenditure cannot be disallowed without establishing a nexus between borrowed funds and non-busines...
Income Tax : The Madras High Court held that filing an appeal before the Commissioner of Income-tax (Appeals) under Section 246A does not requi...
Income Tax : ITAT Chennai held that late filing fees under Section 234E could not be levied through TDS processing for periods prior to 01.06.2...
Income Tax : The ITAT held that, following the Supreme Court's ruling denying LFC exemption for foreign travel, a bank could be treated as an a...
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 unsecured loans totaling ₹1.05 crore could not be added under Section 68 where the AO failed to make any inquiry or issue summons, emphasizing that suspicion alone cannot justify additions.
PCIT invoked section 263 against an assessment under section 153C. ITAT held that without challenging statutory 153D approval, revision is unsustainable, emphasizing that 153D is a statutory safeguard.
PCIT challenged a 153C assessment under section 263. ITAT held that without annulling statutory 153D approval, revision is unsustainable, confirming 153D as a statutory safeguard.
Explains when director cash infusions qualify as current account transactions and why genuine business support may fall outside Section 269SS penalties.
ITAT Delhi held that reassessment under Section 147 is invalid if notice under Section 143(2) is not issued after filing of return. Entire proceedings quashed for procedural lapse.
ITAT confirmed that ownership of additional properties under construction does not block Section 54F deduction if they are business assets. Deduction on LTCG invested in residential property was upheld.
ITAT Delhi held that Section 115BBDA applies only to Individuals, HUFs, and Firms. Dividend income of a registered trust remains fully exempt under Section 10(34), with the addition deleted.
This notification clarifies the conditions under which a development authority qualifies for tax exemption. The ruling highlights that continued constitution under the relevant State law is mandatory to retain benefits.
This notification addresses whether statutory development authorities qualify for income-tax exemption under section 10(46). The key takeaway is that specified non-commercial income is exempt, even retrospectively, when statutory conditions are fulfilled.
Appeals arising from searches, requisitions, and surveys are now mapped to designated appellate officers. The key takeaway is clearer jurisdictional alignment for complex cases.
