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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 Mumbai held that additions under Section 68 cannot be sustained merely on suspicion regarding penny stock transactions. The T...
Income Tax : The Court held that the assessee failed to produce any written or registered document proving transfer of property to the firm. Co...
Income Tax : ITAT Mumbai upheld the CIT(A)'s directions to verify fund flow, bank statements, and lenders' creditworthiness before making addit...
Income Tax : ITAT Chennai held that estimating income at 8% of turnover was excessive where the assessee's accounts were tax-audited and past p...
Income Tax : The Tribunal restored the matter to the Assessing Officer after finding that transfer pricing adjustments may have been added twic...
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 Kerala High Court ruled that tax recovery proceedings must be held in abeyance when an assessee’s delay condonation and stay petitions are pending before the appellate authority (NFAC). The Court emphasized that the Revenue has a duty to act fairly and decide these procedural applications before initiating coercive recovery action.
Kerala High Court mandated that the CPC, Bengaluru, must dispose of an assessee’s grievance petition challenging a Section 143(1) intimation within three months. Recovery proceedings based on the impugned intimation are stayed until the CPC issues its final decision.
Kerala High Court halted coercive tax recovery, directing the NFAC to first dispose of the pending Section 154 rectification petition. The ruling ensures fairness by suspending recovery when a procedural dismissal (based on a 704-day delay) is being challenged.
The Kerala High Court ruled that once appeal hearings are completed before the CIT(A), the Revenue must wait for the final orders before initiating coercive recovery action. The CIT(A) was directed to dispose of the pending income tax appeals within a strict two-month timeframe.
The Kerala High Court ruled that coercive tax recovery against an assessee must be kept in abeyance while the NFAC considers the pending delay condonation and stay petitions. The Court directed the NFAC to decide the delay condonation petition within two months, and if successful, rule on the stay petition within one month thereafter.
AO had added ₹11,38,000/- towards the amount paid to a builder — ₹8,00,000/- by cheque & ₹3,38,000/- in cash — treating it as unexplained. CIT(A)/NFAC upheld the addition on the ground that Assessee failed to substantiate the source of payment.
Tribunal remanded matter for a de novo assessment after noting that Assessing Officer passed an ex parte order without examining ownership and consideration details in a capital gains case.
ITAT held that funds from earlier years and IDS disclosures cannot justify cash deposits made in a later year without proper linkage or documentation. Addition under Section 68 was upheld.
The ITAT Kolkata upheld the deletion of a ₹2.5 crore addition under Section 68, ruling that the assessee provided full documentary proof of the loan’s identity, creditworthiness, and genuineness. The Tribunal emphasized that once the primary onus is discharged, the AO must conduct an independent inquiry rather than relying on an unverified Investigation Wing report.
ITAT Ahmedabad held that an addition under Section 69 based only on an untested third-party statement, without cross-examination, violates natural justice. The ₹60 lakh on-money allegation was deleted.
