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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 : The Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
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 : 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...
Learn when and how sellers of overseas tour packages must collect TCS from buyers, including exemptions, applicable rates, and threshold limits.
ITAT Mumbai dismissed a tax appeal due to a 1,370-day delay, ruling that reliance on a tax consultant’s advice does not constitute sufficient cause for condonation. Case underscores strict adherence to limitation rules in tax proceedings.
The Court held that a Section 148 notice issued by the Jurisdictional Assessing Officer instead of the Faceless Assessing Officer was invalid. It ruled that mandatory faceless procedures apply even in international taxation matters.
The ITAT Mumbai held that Section 263 cannot be invoked when the Assessing Officer has taken a permissible view after inquiry. Revision order quashed, upholding reassessment.
Understand the SFT system, reporting requirements, due dates, and penalties under Section 285BA for high-value financial transactions recorded during the year.
Gujarat High Court rules that reopening assessments using information from third parties without direct evidence linking the taxpayer is invalid, quashing Section 148 notices.
Learn the scope, time limits, and procedure for correcting mistakes apparent from records under Section 154, including appeal restrictions and rectification rules.
High Court ruled that a writ challenging an order under Section 148A(d) is maintainable even when statutory appeals are available, emphasizing jurisdictional and legal issues.
ITAT Chennai holds that Section 87A rebate is available even when total income includes capital gains taxed at special rates, reversing CIT(A)’s denial.
The Tribunal held that VAT input credit shown only in the balance sheet cannot be taxed as income. It upheld deletion of VAT, commission, and notional interest additions, dismissing the revenue’s appeal.
