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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 : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
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 : 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 : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
Income Tax : ITAT remanded the case as NFAC passed an ex parte order despite notice issues and held that a combined reassessment and ITAT effec...
Income Tax : ITAT Delhi held that interest expenditure cannot be disallowed without establishing a nexus between borrowed funds and non-busines...
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 denial of 12AB registration could not stand where the assessee was not given an effective chance to submit documents. The matter was remanded to ensure compliance with natural justice.
The Tribunal held that the trust’s exemption claim must be reconsidered in light of the Supreme Court’s AUDA judgment, which redefined rules for general public utility entities. The key issue is whether fee-based activities exceed the statutory limits under section 2(15).
Chander Shekher Saini Vs ITO (ITAT Chandigarh) Facts: The assessee, Shri Chander Shekher Saini, is a retired employee who served initially with the Punjab State Electricity Board (PSEB) and, pursuant to restructuring, with Punjab State Power Corporation Limited (PSPCL), a company wholly owned by the Government of Punjab. It is not in dispute that the […]
This title highlights that the correct tax regime depends on your real deductions, not assumptions. The comparison shows how your financial profile—not salary—determines which option saves more tax.
ITAT Mumbai held that addition towards unexplained investment u/s. 69A/69B relying solely upon unverified excel sheet, loose sheet and uncorroborated statements, has traversed beyond the permissible confines of evidentiary inference. Accordingly, addition is liable to be deleted.
ITAT Indore held that the registered sale-deed would relate back to and have effect from 26.03.2013 falling with previous year 2012-13 relevant to AY 2013-14 and hence the impugned transaction of sale was taxable in AY 2013-14 and not in 2014-15. Accordingly, reopening of assessment for AY 2014-2015 is illegal and unsustainable.
Tribunal held that Rule 8D disallowance cannot exceed the assessee’s total claimed expenditure and directed restriction of the 14A addition. The ruling clarifies limits on 14A disallowances where expenses are minimal.
The Tribunal held that penalty under Section 271DA cannot be imposed when the assessment order lacks recorded satisfaction of a 269ST violation. The ruling confirms that satisfaction by the Assessing Officer is a mandatory precondition.
Tribunal upheld hawala and import undervaluation violations but significantly cut penalties for Dr. Manoharan and NTPL, fully exonerating two female directors. Key takeaway: Liability depends on active involvement, not mere association.
Delhi ITAT rules that reduction in percentage shareholding due to fresh share issuance is not a transfer under Income Tax law, providing relief to minority shareholders.
