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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 : 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 Madras High Court held that filing an appeal before the Commissioner of Income-tax (Appeals) under Section 246A does not requi...
Income Tax : ITAT Chennai held that late filing fees under Section 234E could not be levied through TDS processing for periods prior to 01.06.2...
Income Tax : The ITAT held that, following the Supreme Court's ruling denying LFC exemption for foreign travel, a bank could be treated as an a...
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...
ITAT Chandigarh held that cash deposits made during the demonetization period were from genuine business cash sales. The addition of Rs. 20.86 lakh by the AO and CIT(A) was based on assumptions and was deleted.
ITAT Ahmedabad held that a genuine ₹50 lakh loan received and fully repaid with interest cannot be treated as unexplained credit under Section 68. The addition by AO and CIT(A) was deleted as the assessee provided full banking and repayment evidence.
ITAT Ahmedabad dismissed the Revenue’s appeal, confirming CIT(A)’s deletion of ₹1.06 crore addition under Section 41(1). The tribunal held that the unsecured loans were used for capital expenditure, not trading purposes, making the addition inapplicable.
ITAT Chandigarh held that cash deposits of Rs. 17.29 lakh were merely redeposits of earlier withdrawals. The addition made by the Assessing Officer was deleted as the evidence showed no unexplained income.
ITAT Hyderabad held that an ex-parte dismissal by CIT(A) violated section 250(6) as not all grounds were adjudicated. The case was restored for a fresh, reasoned hearing.
ITAT Hyderabad upheld the dismissal of a trust’s appeal as barred by limitation due to a delay of nearly five years. The tribunal emphasized that no reasonable cause was shown to condone the delay under section 249(3).
ITAT Mumbai held that transfer pricing adjustment in relation to international transaction of payment of bareboat charter hire fees is directed to be deleted since benchmarking approach of assessee is already accepted by DRP in earlier years.
Delhi High Court held that order is liable to be set aside and matter remanded to ITAT since ITAT failed to provide appropriate reasoning with regard to functionality of comparable while undertaking transfer pricing adjustment.
ITAT Ahmedabad held that addition on account of section 14A of the Income Tax Act while computing books profit under section 115JB of the Income Tax Act is not justifiable. Accordingly, addition u/s. 14A deleted and appeal of assessee allowed.
Delhi High Court held that addition of unsecured loans under section 68 of the Income Tax Act rightly deleted since the said amount is already disclosed before Income Tax Settlement Commission. Accordingly, appeal of revenue dismissed.
