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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...
Bombay High Court quashed the Section 127 transfer of a former CFO’s case from Mumbai to Delhi, ruling that the basis for transfer coordinated investigation eased once the main company’s assessment was complete.
The Gujarat High Court confirmed the Tribunal’s decision to disallow 25% of bogus purchases shown by Vijay Proteins Ltd., but quashed the penalty levied under Section 271(1)(c) of the Income-tax Act.
ITAT Delhi nullified a reassessment, ruling that mandatory sanction under Section 151 was invalid because it was granted by Principal Commissioner (PCIT). Tribunal held that reopening assessments after three years requires approval from higher authority: Principal Chief Commissioner (PCCIT).
ITAT Delhi confirmed that a statutory development authority’s activities, such as land development and housing, are charitable under Section 2(15), not commercial. The Tribunal applied the principle of consistency, relying on multiple High Court and ITAT precedents for similar development bodies.
Tribunal upheld CIT(A)’s view that assessments for AYs 2013-14 to 2015-16 fell outside permissible six-year block under Section 153C. Additions made by AO were held time-barred and without jurisdiction.
ITAT Delhi dismissed the Revenue’s appeal, ruling that the assessment under Section 153C was time-barred because the block period must be calculated from the date the Assessing Officer (AO) of the non-searched person received the seized material. The ruling confirms that the date of the original search is irrelevant for non-searched persons.
ITAT Delhi ruled that Section 50C, which allows revaluing property based on circle rates, applies only to the seller in a transfer, not the buyer in a slump sale governed by Section 50B. The Tribunal held that goodwill is depreciable, but its value must be verified by the Departmental Valuation Officer (DVO).
ITAT rules LRD trading and after-sales services are functionally inseparable for TP. Mechanical segregation rejected; TNMM must be applied at the entity level on an aggregated basis.
ITAT Delhi deleted a penalty levied under Section 272A(1)(d) against a Non-Resident Indian (NRI) for alleged non-compliance with a Section 142(1) notice.1 The court ruled that service of notice, not mere issuance, is mandatory, and lacking proof of service on the UK resident constituted a reasonable cause for non-compliance.
ITAT Delhi dismissed cross-appeals from the assessee and Revenue, citing the initiation of the Corporate Insolvency Resolution Process (CIRP). The ruling reaffirms that Section 238 of the IBC has an overriding effect on the Income-tax Act, mandating all tax claims be lodged with the Resolution Professional.
