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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...
The Tribunal ruled that Explanation 5A applies only when the assessee is found possessing undisclosed tangible assets, which was not established. Since no such assets were discovered and the additions came from routine assessments, the penalty under section 271(1)(c) could not stand. This clarifies that the deeming fiction under Explanation 5A is not automatic.
The Tribunal held that the CIT(A) failed to pass a reasoned speaking order and dismissed the appeal ex-parte without proving deliberate non-compliance. The matter was remanded with one final opportunity, reinforcing natural justice requirements.
ITAT Pune held that rejection of application for registration under section 12A read with section 12AB of the Income Tax Act since exorbitant fees are being charged and profiteering is not allowed in educational institutes. Accordingly, appeal of assessee dismissed.
Tribunal held that the CIT(A)’s ex-parte order violated natural justice. The matter was remanded for a fresh decision with proper opportunity to the assessee.
ITAT Lucknow held that part of commission income from sugar mills cannot be taxed since other part of commission income has already been allowed for deduction under section 80P of the Income Tax Act. Accordingly, addition of part of commission income set aside and appeal allowed.
ITAT Chandigarh deleted ₹38.70 Lakh addition as unexplained expenditure, holding that fully bank-routed agricultural expenses cannot be disallowed merely due to missing bills. The Tribunal confirmed that legitimate orchard expenses on labor, fertilizers, and packing are deductible from agricultural income.
ITAT Delhi held that addition towards unexplained cash deposit under section 69A of the Income Tax Act is not sustainable since the same is out of the cash sales and both cash book and books of account justifies the same. Accordingly, appeal is allowed.
The Tribunal directed the AO to verify conditions for exemption of receipts from tribal-area schools, confirming the Trust’s eligibility. The ruling reinforces that factual verification cannot override established charitable purposes and exemptions.
Explains how ITAT Pune held that unsecured loans prior to 01.04.2023 do not require proving the lender’s source of funds, leading to deletion of a ₹1.62 crore addition.
Tribunal directs AO to apply the 30% tax rate on unexplained cash deposits during Nov–Dec 2016, citing Madras High Court ruling, partially allowing assessee’s appeal.
