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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 : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
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 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 appellate authority dismissed the appeal ex-parte citing non-prosecution. ITAT Delhi held that mere issuance of notices does not satisfy the requirement of effective hearing. The order was quashed and the matter sent back for fresh decision.
The issue was whether an unsecured loan could be treated as unexplained despite evidence on record. ITAT Delhi held that the appellate authority erred in ignoring uploaded documents and remanded the matter for fresh verification.
The Tribunal held that reassessment based only on the Shah Commission report, without independent material or application of mind, is invalid. Reopening beyond four years after full disclosure was quashed, nullifying additions and penalties.
ITAT Delhi ruled that annual revenue-linked DTH licence fees are revenue expenses under Section 37, not capital under Section 35ABB, allowing full deduction for the assessee.
The Tribunal held that income assessment issues cannot prevent granting registration under section 12AB, directing the renewal for a trust already registered under 12AA.
The issue concerned an upward transfer pricing adjustment on corporate guarantee fees charged to AEs. The Tribunal upheld the fee at 0.25% as arm’s length, citing prior ITAT precedents. The takeaway: valid comparable data and indemnification protect against such adjustments.
The Tribunal held that revenue-sharing license fees under the 1999 policy are capital expenditure, mandatorily amortizable under section 35ABB, following the Supreme Court verdict.
The Tribunal held that cash deposits arising from recorded pharmacy sales during demonetisation cannot be added under section 68 when turnover is accepted and duly taxed.
Cash deposits during demonetisation were held genuine where supported by EMI recoveries from thousands of borrowers, with no enquiry or evidence to treat them as unexplained.
Tribunal confirmed that transfer of passive infrastructure assets is genuine and qualifies as a gift under section 47(iii), rejecting revenue’s claim of tax avoidance.
