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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 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 : ITAT Mumbai held that distribution fees paid to associated enterprises could not be treated as royalty. The Tribunal followed earl...
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...
Gujarat High Court held that reassessment proceedings based on loose papers referring to non-agricultural land could not justify reopening where assessee had sold agricultural land. Court ruled that alleged escapement of income was based only on hypothesis and conjecture.
The Supreme Court has framed substantial questions on whether DDT under Section 115-O is a tax on shareholder dividend income or on company profits. The ruling may determine applicability of DTAA treaty rates on dividend distributions to foreign shareholders.
Delhi ITAT held that a single consolidated satisfaction note covering multiple assessment years without identifying year-wise incriminating material is invalid under Section 153C. The Tribunal consequently quashed all related assessments.
Madras High Court held that time-share membership fees could not be fully taxed in the year of receipt since the assessee had continuing obligations extending over several years. The Court approved spreading part of the income over the membership tenure.
Mumbai ITAT held that Section 56(2)(x) applies to purchase of MHADA leasehold property rights despite reliance on Section 50C rulings. However, the Tribunal directed the AO to obtain a DVO valuation before recomputing the addition.
Delhi ITAT held that unsecured loans already forfeited and offered to tax in a subsequent assessment year cannot again be taxed under Section 68 in the year of receipt. The Tribunal ruled that such action would result in impermissible double taxation.
High Court reiterated that compensation awarded for compulsory land acquisition is not liable to deduction of tax at source under Income Tax Act. Payments under mediation settlement were directed to be released without TDS deduction.
Delhi ITAT held that notices issued under Sections 148A(b), 148A(d) and 148 without digital signatures are invalid in e-proceedings. The Tribunal quashed the entire reassessment as void ab initio.
Delhi ITAT held that before the amendment effective from 01.04.2015, exemption under Section 54 could be claimed for investment in more than one residential house. The Tribunal deleted the disallowance relating to the second property purchase.
Delhi ITAT restored ₹6.30 crore addition under Section 68 after finding that the Mauritius investor’s financial statements were unsigned and unauthenticated. The Tribunal held that incomplete documents cannot establish identity, creditworthiness or genuineness of transactions.
