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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 Chandigarh held that the assessee could not establish the authenticity of the purchase transactions underlying the LTCG claim...
Income Tax : The High Court upheld denial of Section 10(38) exemption after concurrent findings established that the share transactions lacked ...
Income Tax : The Delhi High Court upheld the denial of Section 10(38) exemption after finding that the authorities had rightly treated the shar...
Income Tax : The High Court held that issuing a demand notice along with a draft assessment order violated the mandatory procedure under Sectio...
Income Tax : The Court found that the ITAT wrongly held there was no business income despite the assessment record showing income under “Busi...
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 held that AY 2011-12 is barred by limitation under Section 153C as the deemed search year started only when documents were received in 2021, nullifying the reassessment and related penalties.
ITAT Delhi held that operating a primary school itself constitutes “education,” removing the need for CBSE or DOE affiliation for 12A registration under the Income Tax Act.
ITAT confirmed Section 263 revision after finding that the AO wrongly allowed delayed PF/ESI contributions despite binding Supreme Court law. The reassessment was deemed erroneous and prejudicial to Revenue.
The Income Tax Act, 2025 streamlines 800+ sections into 536, codifies decades of judicial rulings, and simplifies compliance for taxpayers and businesses.
The Supreme Court ruled that TDS on payments to non-residents cannot exceed treaty-specified rates, even if PAN is not provided, ensuring DTAA provisions prevail over Section 206AA.
The Court held that Section 148 notices dated 31 March 2021 but issued after that date could not be treated as issued within the old limitation period. The ruling applies the amended reassessment framework and the Supreme Court’s directions in similar cases.
The Delhi High Court held that TDS for non-residents without PAN should follow DTAA rates, not the 20% rate under Section 206AA. The ruling confirms treaty provisions override procedural domestic laws.
The Tribunal noted that the Assessing Officers communication did not consider the assessees objections but only reiterated the basis of reopening. As the objections were not disposed of through a separate speaking order, the reassessment lacked jurisdiction. The ruling underscores that non-compliance with GKN Driveshafts cannot be treated as a mere procedural lapse.
The Tribunal emphasized that an error regarding VRS exemption made by a salaried, non-technical taxpayer cannot be classified as deliberate under-reporting. With no false claim or suppression, the 270A penalty was deleted.
Genuine sale was established through invoices, stock records, ledgers, bank proofs, and direct buyer confirmations, leaving no room for Section 68 additions. ITAT held that when sales are proved, no commission can be presumed under Section 69C.
