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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...
Detailed summary on salary, allowances, perquisites, pension, gratuity, HRA, standard deduction, and related tax exemptions under the Income-tax Act with reference to key provisions and CBDT notifications.
Author note I was working on tax audit’s of one of my client’s, after submitting the report management wanted to make changes in few estimates, It was my first time, hence thought to discuss my research with everyone Introduction We all know that tax audit is one of the important compliances under the Income-tax Act, […]
ITAT Delhi held that assessments under Section 153C were invalid where AO recorded a vague, consolidated satisfaction note without linking seized material to specific assessment years.
ITAT Surat allowed Goverdhan Nathji Pare Bethakji Seva Trust’s appeal, setting aside CIT(E)’s ex parte rejection of its trust registration application. Tribunal condoned a 24-day delay and restored matter to CIT(E) for a fresh order after granting a reasonable opportunity of hearing to assessee.
ITAT ruled that 5% tolerance for difference in stamp duty value and sale consideration applies retrospectively. This allowed assessee’s appeal against an addition under Section 56(2)(x).
ITAT Ahmedabad ruled that once sales have been recorded and taxed, they cannot again be treated as unexplained income under Section 69A, deleting addition made on alleged accommodation entries.
Tribunal restored issue of validity of reassessment under Section 148 for AY 2015-16 to CIT(A) for fresh adjudication, noting that assessee raised legal ground for first time before ITAT.
The ITAT Delhi allowed the appeal of Sunita Salhotra, quashing the Section 148 notice for AY 2015-16 as barred by the statutory limitation period that expired on March 31, 2022. The Tribunal relied on the Revenue’s concession in the Supreme Court’s Rajiv Bansal case regarding notices issued for this AY on or after April 1, 2021.
ITAT Bangalore ruled that a co-operative society can claim deduction under Section 57 for costs incurred in earning interest income from banks. Matter was sent back to AO for verification of claim.
Dismissing Revenue’s appeal, the Tribunal held that the assessee’s ₹1.9 crore FDR was a renewal of an earlier deposit used as bank guarantee security and not a new unexplained investment under Section 69.
