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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 Mumbai held that additions under Section 68 cannot be sustained merely on suspicion regarding penny stock transactions. The T...
Income Tax : The Court held that the assessee failed to produce any written or registered document proving transfer of property to the firm. Co...
Income Tax : ITAT Mumbai upheld the CIT(A)'s directions to verify fund flow, bank statements, and lenders' creditworthiness before making addit...
Income Tax : ITAT Chennai held that estimating income at 8% of turnover was excessive where the assessee's accounts were tax-audited and past p...
Income Tax : The Tribunal restored the matter to the Assessing Officer after finding that transfer pricing adjustments may have been added twic...
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 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.
ITAT ruled that CIT(A) must examine admitted additional evidences before sustaining AO’s net profit estimation. Matter restored to AO for fresh determination.
The NUDGE campaign targets fraudulent claims under sections 80G and 80GGC, helping taxpayers voluntarily revise returns and avoid penalties.
The Tribunal examined whether GST could be included in gross receipts for presumptive income. It held that GST is a statutory levy with no income element and must be excluded under section 44BB.
ITAT Delhi held that a loan used to repay a bank cannot be treated as a trading liability under section 41(1). Since no deduction was claimed earlier and no write-back occurred, the addition of ₹8.22 crore was rightly deleted.
The issue was whether a charitable trust could lose exemption due to late uploading of Form 10B. ITAT held that Form 10B is procedural and delay alone cannot defeat exemption when audit was completed in time.
ITAT Delhi held that Section 69C cannot be invoked when purchases are recorded in books, paid through banking channels, and sources are explained. Estimated profit addition of 12.5% was deleted.
