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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...
Since petitioner’s requests for time were ignored and no hearing was granted, Court held the order unsustainable. matter was remanded with instructions to allow additional replies and reconsider all issues.
Tribunal remanded the case to the AO to reassess ULIP maturity receipts treated as unexplained investment after the exemption claim was not evaluated earlier.
Since valid service of notice was a mandatory jurisdictional requirement before initiating reassessment proceedings, therefore, purported notices issued under Section 148 including reassessment proceedings under
ITAT Bangalore held that mere delay in filing the return of income cannot be construed as a violation so grave as to justify cancellation of registration under Section 12AA(4). Delay in return was unintentional hence cancellation of registration u/s. 12AA not justified.
Telangana High Court held that amount paid towards cancellation of agreement is liable to be disallowed under section 48(i) of the Income Tax Act since the no condition was stipulated in original Memorandum of Understanding hence in absence of contractual obligation the disallowance of said amount is justified.
The Court held that authorities cannot take coercive steps against taxpayers in a fake ITC investigation if they participate fully in the inquiry. Cooperation ensures protection from arrest or similar actions.
Explains key deductions under Chapter VI-A and highlights frequent taxpayer errors, including documentation lapses and section-wise misclaims.
Tribunal held that AO did not establish any defect in identity, genuineness, or creditworthiness of share subscribers. Addition under Section 68 was deleted.
The Tribunal held that the appellate authority failed to examine inventory-related documents before sustaining disallowance under section 37(1). The matter was sent back for fresh adjudication with directions to consider all evidence.
The Court held that the show cause notice provided less than seven days to respond, contrary to the prescribed procedure. The assessment and related notices were set aside and the matter remanded for reconsideration.
