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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...
The Tribunal held that notices under section 153C issued without independent satisfaction by the AO are invalid, quashing the consequent assessments for AY 2018-19 to 2020-21.
ITAT Mumbai confirmed loans from Hallow Securities and Dhankalash were genuine, rejecting Revenue’s allegations of shell-company loans. Interest claimed on these loans was also allowed. The ruling highlights the importance of corroborative evidence in section 68 assessments.
The Bombay ITAT allowed a 363-day delay in filing appeals caused by misdirected emails, emphasizing liberal interpretation of sufficient cause and procedural fairness. Appeals were remitted for fresh consideration on merits.
The Tribunal held that a 93-day delay caused by a tax professional’s mistaken assumption that the quantum appeal was already filed constituted a bona fide error. With no malafide intent shown, the delay was condoned, and both ex parte orders were remanded for fresh adjudication.
The Tribunal held that reopening the assessment on the same grounds already examined in the original scrutiny amounted to an impermissible change of opinion. With no new material on record, the reassessment was found invalid. The ruling reinforces that the AO cannot revisit an earlier view in the guise of section 147 proceedings.
The Tribunal held that stamp duty value must be taken as on the year of agreement when part consideration is paid through banking channels. Since the buyer paid in 2011 and received allotment in 2012, adopting 2017 stamp value was invalid. The ruling reaffirms strict application of the proviso to section 56(2)(vii)(b).
The courts confirm that once tax is deducted at source, recovery from the employee is barred by law, and the employer alone is responsible for deposit.
ITAT Delhi held that essential house fixtures like cupboards, modular kitchen, and beds are integral to habitability and can be included in the cost of improvement. AO was directed to allow Rs. 3.50 lakh claimed in long-term capital gains computation.
The ITAT held that reassessment notices under section 148 issued to a deceased person are invalid, emphasizing that such notices cannot confer jurisdiction and proceedings are void ab initio.
The Tribunal held that delivery order charges are directly connected to air-cargo transportation and fall within Article 8 of the India–UK DTAA. The ruling confirms such receipts form part of international traffic income and are not taxable in India.
