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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 : The Tribunal ruled that vague information and an excel sheet prepared by the Investigation Wing could not satisfy the statutory re...
Income Tax : ITAT Mumbai noted that the excel sheets relied upon by the Revenue had not been established in accordance with legal requirements ...
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 : 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 the assessee established a prima facie case regarding deduction eligibility for habitable-unit expenditure.
The Tribunal upheld the deletion of ₹5.85 crore addition under Section 40A(3), confirming that payments to meat producers under Rule 6DD(e)(ii) are exempt.
Reopening Based on Incorrect LTCG Information Invalid; Long-Held Penny-Stock Shares Treated as Genuine — ITAT Mumbai Quashes Additions
The Court reviewed bogus purchases of Rs. 4.65 crore, confirming the purchases as unverifiable but reduced the income estimation from 12.5% to 8%. The appeal was partly allowed, providing relief to the assessee.
The ITAT Mumbai ruled that income already taxed under a proprietorship cannot be taxed again in a partnership, deleting the estimated 2% addition by CIT(A).
ITAT Delhi upheld that failure to pass a speaking order on objections under GKN Driveshafts makes reassessment void, dismissing Revenue’s appeal for AY 2012-13
ITAT Kolkata held that an employee cannot be denied TDS credit if the employer fails to deposit deducted tax. Once TDS is deducted from salary, it is deemed paid, and the employee’s liability does not arise. The Tribunal directed full TDS credit and deletion of the demand.
Tribunal held that AO had conducted detailed inquiries on a partner’s debit balance and correctly accepted it as capital withdrawal, not a loan. PCIT’s revision under Section 263 was based on assumptions and a change of opinion, not any factual error. The order was quashed.
The Tribunal held that the payment to the labour union was backed by a formal settlement under the Industrial Disputes Act involving 26 workers. It ruled that the assessee demonstrated clear business nexus and commercial expediency in resolving labour unrest. The disallowance under Section 37(1) was therefore deleted.
ITAT Delhi ruled that section 153C notices for AYs 2010-11 to 2013-14 were time-barred, exceeding the 10-year limit from receipt of seized material. The Tribunal emphasized that jurisdiction under 153C requires both timeliness and relevance of incriminating material. All assessments were quashed.
