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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...
Madras High Court held that a trust’s legitimate tax exemption cannot be denied merely for delay in filing Form 10B, directing the Assessing Officer to allow benefits under Section 12A.
ITAT Indore held that activity of providing hostel/mess is part of main activity of imparting education. Hence, claim of 15% of gross receipts as eligible exemption under section 11(1)(a) of the Income Tax Act justified.
The Kerala High Court held that revisional powers under Section 263 cannot be invoked when the Assessing Officer has examined and accepted a deduction claim under Section 32AC after due inquiry.
ITAT Delhi held that a seized document mentioning ₹18 lakh could not, without corroboration, be treated as undisclosed income of Krishna Gopal Saraf, deleting the addition.
ITAT Delhi allowed Ekalavya Gift Galleries Pvt. Ltd.’s appeals, holding that share capital and premium received from investors were properly explained and not taxable under section 68.
The ITAT Ahmedabad remanded the case of Harshang Kaushikkumar Rami vs ITO to the Assessing Officer for fresh verification of Rs. 5 crore cash deposits treated as unexplained income.
ITAT Delhi deleted a ₹1.11 crore addition, holding that ordinary dunnage used by Central Warehousing Corporation is a revenue expense, following rulings from earlier years.
ITAT Mumbai held that National Payments Corporation of India carries out activities which has been recognized as charitable under category of advancement of object for general public utility. Accordingly, revisionary order u/s. 263 quashed as issue already dealt in detail by AO.
Madras High Court quashes assessment against SMILE Microfinance Ltd. for violation of natural justice and directs reassessment with personal hearing within 12 weeks.
The ITAT held that the Assessing Officer cannot discard a registered valuer’s report without referring the matter to a Departmental Valuation Officer. The AO’s addition was set aside, and the fair market value must be recomputed based on the valuer’s report.
