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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...
ITAT Delhi remanded the case to verify whether imports made using a firm’s PAN were recorded in the company’s books. CIT(A) deletion was quashed as factual examination was needed.
The Tribunal held that reopening cannot stand when the show-cause notice cites one allegation (bogus ITC) but the final order relies on another (bogus purchases). The jurisdictional inconsistency invalidated the entire reassessment.
ITAT struck down ₹17.5 lakh salary disallowance under Section 40A(2)(b) because the AO relied on a statement of a different person. Standalone statements without corroboration cannot sustain additions.
ITAT held that reopening of assessment based solely on investigation inputs without independent verification is invalid. The reassessment and 1% commission addition were deleted, reinforcing the requirement for AO’s own application of mind.
The ITAT ruled that Section 194H does not apply to margins or discounts given to telecom distributors for prepaid products. Distributors operate on a principal-to-principal basis, so TDS cannot be imposed on amounts not paid or credited by the assessee.
The ITAT held that blank letterheads found during a search are dumb documents and cannot constitute incriminating material. Since no corroborative evidence existed, all 153A additions and penalties were invalidated, reaffirming that suspicion alone cannot sustain assessments.
The High Court held that the Commissioner did not properly apply the wide discretionary powers under section 264. The matter was remanded for fresh consideration in light of the petitioner’s circumstances and submitted records.
The tribunal held that brought-forward losses and unabsorbed depreciation remain in the books until fully absorbed and must be allowed as reduction under Section 115JB. The ruling rejects the Revenue’s stand and upholds the CIT(A)’s deletion of the addition.
Court held that undisclosed income under Chapter XIV-B may be computed using both seized search material and other information connected to it. The ruling confirms the Assessing Officer’s power to rely on post-search enquiries if they relate to search evidence.
The High Court ruled that undisclosed income can be assessed using both search material and other information relatable to it, confirming the ITAT’s interpretation of Section 158-BB.
