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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...
The court ruled that settlement applications filed between 01.02.2021 and 31.03.2021 remain valid since the Finance Act, 2021 took effect only on 01.04.2021, preserving vested rights during the interregnum
Delhi High Court held that reassessment notices must be individually evaluated for surviving limitation. AO directed to re-compute limitation under Rajeev Bansal framework before deciding validity.
Delhi appellate authority’s ex-parte confirmation of unexplained money under Section 69A was set aside. ITAT directed CIT(A)/NFAC to adjudicate afresh, granting one final hearing opportunity.
ITAT held that failure to claim TDS credit in the return is only a procedural lapse. Once TDS is reflected in Form 26AS, credit must be granted after verifying corresponding income.
Delhi ITAT quashed ex-parte assessments under Sections 144/147/143(3) as the authorised signatory’s serious illness prevented contesting, ensuring a fair opportunity to present evidence.
ITAT Delhi dismissed an appeal where the assessee continuously absented itself, upholding additions under Section 143(3). The case reinforces that tax law protects diligent litigants, not those neglecting their rights.
Delhi ITAT restored the matter to CIT(A) after finding that additional evidence was accepted without allowing AO to respond. Procedural safeguards under Rule 46A are essential, even for official records.
The Tribunal admitted an additional legal ground under Rule 11, allowing examination of the Section 148 notice on admitted facts. Since the notice was issued after the limitation period, the reassessment order and ₹3.34 crore additions were set aside.
Tribunal upheld CIT(A)’s deletion of addition under Section 69A for cash deposits from painting sales, ancestral jewellery, and customary gifts. Revenue failed to challenge the well-supported factual findings.
ITAT Ahmedabad upheld ₹59.9 lakh addition from demonetisation-period cash deposits and GP estimation, confirming the rejection of unverifiable books due to abnormal sales and fraudulent stock.
