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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 Mumbai held that an addition based solely on a builder's statement could not survive without evidence directly linking the as...
Income Tax : The ITAT Delhi held that reassessment under Section 147 was invalid because the Assessing Officer merely relied on an investigatio...
Income Tax : ITAT Delhi held that television channel and content owner companies could not be compared with a content distribution business. Th...
Income Tax : ITAT Mumbai held that distribution fees paid to associated enterprises could not be treated as royalty. The Tribunal followed earl...
Income Tax : The Tribunal found that the assessee had produced complete evidence proving allotment, holding, dematerialization, and sale of sha...
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 reassessment notices issued by the JAO after 29 March 2022 were without jurisdiction. The proceedings and related orders were struck down.
Bombay High Court held that grant of approval under section 153D of the Income Tax Act cannot be merely a ritualistic formality. Thus, proceedings u/s. 153A, based on approval u/s. 153D granted without application of mind, is vitiated.
CBDT notifies a State Pollution Control Board as exempt under Section 10(46A), effective AY 2024-25. The decision confirms tax-free status for statutory environmental regulators.
A statutory authority has been formally notified for exemption under Section 10(46A) with effect from AY 2024-25. The approval is conditional on continued operation under its governing Act and eligible purposes.
CBDT notifies tax exemption for a development authority under Section 10(46A), effective from AY 2024-25. The ruling confirms retrospective benefit with no adverse impact on taxpayers.
ITAT Ahmedabad ruled that a notice under section 148 issued beyond the statutory period is invalid, quashing a ₹115 crore reassessment of a share-trading company. The Tribunal emphasized adherence to “surviving time” limits, making the reassessment void.
ITAT Ahmedabad held that a section 263 revision cannot proceed if the AO issuing section 148 notice lacks territorial jurisdiction, emphasizing the need to first decide jurisdictional validity.
Tribunal relied on Supreme Court’s Checkmate ruling to uphold disallowance of delayed employees’ PF/ESI contribution under Section 143(1), dismissing the HUF’s appeal.
Tribunal observed failure to produce books of accounts and remitted matter to AO, emphasizing proper compliance and opportunity to present evidence.
The Tribunal allowed a 193-day delayed appeal, emphasizing that non-deliberate delay should not bar hearing on merits. The assessee can now present his case and have the appeal adjudicated substantively.
