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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...
Delhi High Court held that completed assessments cannot be disturbed without any incriminating material found during search. The Court dismissed Revenue’s appeal, reaffirming that additions under section 153A require evidence of undisclosed income or assets.
The Tribunal held that section 54 relief cannot be denied merely because the new property was purchased in the spouse’s name. It ruled that actual investment of capital gains is the key requirement.
The Court ruled that services rendered remotely cannot create a PE because the treaty requires services furnished within India through employees. virtual presence cannot substitute physical presence without treaty amendment.
Tribunal held that a provision for bad debts need not be routed through the Profit & Loss account in the first eligible year under Section 36(1)(viia). The disallowance was deleted as the audited statements reflected the provision as on 31.03.2007.
The ITAT Hyderabad held that a notice issued by the Jurisdictional AO under Sections 148A(b) and 148 after the Faceless Jurisdiction Scheme, 2022, is without jurisdiction and void. The reassessment order based on such notice was consequently quashed. This ruling reinforces the mandatory requirement for faceless reassessment under the 2022 scheme.
Applying the Supreme Court’s principle, the Tribunal held that an explanation unproved but not disproved cannot attract Section 271(1)(c) penalty. It noted that the department failed to show falsity in the assessee’s claims. The takeaway is that penalty requires clear evidence of incorrect particulars, not mere inadequacy of proof.
The Court held that Section 44AF, as a special provision, overrides the requirements of Section 139(9). It ruled that treating the return as defective was unjustified and directed issuance of the refund.
The Tribunal observed that Form 67 was available before 143(1) processing, making the denial of FTC unjustified. It set aside the appellate order and directed the AO to grant FTC after verification.
The Tribunal ruled that the seized notes clearly connected the assessee to both the loan and property investment, validating jurisdiction under Section 153C. The assessee’s failure to submit any proof led to confirmation of the additions. The case highlights the importance of evidence-based rebuttal in search-related assessments.
The Tribunal held that an addition based solely on a third-party excel sheet, without any direct evidence of cash payment, was unsustainable. With a complete RTGS trail, registered deed, and vendor confirmation proving bank-only payment, the ITAT ordered deletion of the Section 69 addition.
