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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 Delhi quashed a ₹65 lakh penalty under Section 271D after finding that no assessment was made for the relevant year and no ...
Income Tax : The Tribunal examined whether reassessment proceedings could be initiated after the NCLT declared a moratorium under the Insolvenc...
Income Tax : The Tribunal examined whether unsecured loans could be accepted solely on the basis of loan confirmations. It held that confirmati...
Income Tax : The Tribunal examined whether donations made as part of CSR obligations could qualify for deduction under Section 80G. It held tha...
Income Tax : The Court upheld deletion of the LTCG addition after finding that the Revenue relied on assumptions rather than evidence. Document...
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...
Explains how gratuity exemptions differ for government, private, and Gratuity Act–covered employees. Key takeaway: exemption is capped at ₹20 lakh, and excess becomes taxable.
The Tribunal held that the AO cannot expand a limited scrutiny into full scrutiny without written approval from the Principal CIT. Additions under Sections 2(22)(e) and 69A were struck down, reaffirming that CBDT instructions are mandatory.
The Tribunal held that freight amounts collected and passed on to airlines are mere reimbursements, not income. Only the assessee’s service margin is taxable.
Madras High Court held that payment made for International Private Leased Circuits [IPLC] doesn’t constitute royalty within the expression provided under clause (iva) to Explanation 2 to section 9(1)(vi) of the Income Tax Act. Hence, disallowance u/s. 40(a)(i) of the Income Tax Act not sustained.
The Tribunal found that even a belated return filed in response to a Section 148 notice remains a valid return requiring a 143(2) notice. Because this mandatory notice was never issued, the reassessment order was declared illegal and set aside.
ITAT held that the AO’s 8% estimation had no support from comparables or past margins. Applying consistency with earlier family-group cases, profit was fixed at 4% and the unexplained investment addition became academic.
The Tribunal held that ₹1.45 lakh in specified notes came from genuine vazhipadu collections and that the authorities wrongly rejected a plausible explanation.
Even though the assessee had opted for DTVSVA, the non-payment of tax meant the settlement did not materialize. The Tribunal restored the appeal to CIT(A) to examine all submitted evidence, ensuring a fair opportunity to contest additions.
Karnataka HC confirms that compensation for land acquired under National Highways Act after 01.01.2014 is fully exempt under Section 96 of RFCTLARR Act, preventing any TDS or income tax deduction.
ITAT Chennai held that neurology conferences and workshops squarely fall within the ambit of education under section 2(15) of the Income Tax Act. Hence, exemption under section 11 cannot be denied. Accordingly, appeal allowed.
