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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...
Penalty of Rs. 25.53 Cr. on Hindustan Coca-Cola was quashed as assessee had not collected any amount by way of sales tax during the exemption period, and the Revenue’s assumption of implicit tax collection was unsustainable.
Addition to the differential margin between the Gross Profit (GP) declared by the assessee and the benchmark rate of 10% adopted as the industry average for rice trading was restricted affirming that a full disallowance of such purchases was not justified when the corresponding sales were accepted by the Revenue authorities.
The ITAT Panaji sent the disallowance of agricultural income back to the AO for fresh review, finding that the lower authorities ignored substantial documents and confirmations provided by the assessee. The ruling confirms that tax authorities must properly verify factual material and grant a fair hearing before disbelieving a farm income claim.
The ITAT Delhi ruled that External Development Charges (EDC) paid by a real estate developer to HUDA are statutory government levies, not payments for the use of land. Following High Court and Supreme Court precedents, the Tribunal confirmed that Section 194I (TDS on rent) is not applicable to EDC payments.
ITAT Delhi held that payments received by a US company for software licensing and support services cannot be treated as royalty or fees for technical services. Since the assessee had no permanent establishment in India, such income was classified as business profits and held non-taxable under the India-USA DTAA.
The ITAT Mumbai set aside the PCIT’s revisionary order, holding that the AO’s decision to allow Section 80G deduction on voluntarily disallowed CSR expenses was a plausible view. The ruling reaffirmed the Supreme Court principle that Section 263 revision cannot be invoked merely for holding an alternate opinion.
The ITAT Delhi ruled that the surcharge rate on the residual income of a trust must be restricted to 15%, not 37%. This decision follows the principle that the surcharge rate is governed by the Finance Act provisions, even if the base tax rate is the Maximum Marginal Rate (MMR).
The ITAT upheld the classification of a Rs.5 crore loss on the sale of shares as a capital loss, not a business loss, because the NBFC consistently held the shares as non-current investments for over three years. The Tribunal emphasized that the assessee’s accounting treatment and the mandated sale under Supreme Court directions confirmed the investment motive.
Rejecting the petitioner’s request to keep recovery in abeyance, the Madras HC directed the assessee to comply with the mandatory 20% pre-deposit for AY 2019-2020. Failure to pay will result in the initiation of coercive recovery measures.
ITAT Bangalore held that delay in filing of appeal due to non-registration on Income Tax portal and non-receipt of notices are plausible and sufficient cause show. Accordingly, delay condoned and appeal restored back for fresh consideration.
