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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...
AO was wrong in disallowing the entire direct expenditure claimed towards sub-contractors for stevedoring and transport services and at the same time, assessee had not proved beyond doubt that the expenditure claimed was fully genuine. Considering all these inconsistencies, CIT(A) righlyl disallowed 20% of the expenditure claimed.
ITAT Mumbai dismissed Revenue’s appeal, confirming that Rs.14.11 crore surplus from perpetual sale of film rights, copyrights, and intellectual property to a third party should be taxed as Long Term Capital Gain (LTCG), not Business Income.
In the case of Deepak Jain v. Income Tax Department, the ITAT Delhi held that the BMA cannot be applied to foreign companies and bank accounts that ceased to exist before 1 July 2015, and that once proceedings were pursued under the IT Act rather than the BMA, the revenue may not shift to BMA under doctrine of election.
Tribunal held that when sales are accepted and supported by evidence, entire purchases cannot be disallowed. Only the profit element can be added, restricting disallowance to ₹8,075 as per Bombay High Court’s ruling in Mohammad Haji Adam & Co.
Bombay High Court dismisses Revenue’s appeal in PCIT vs N.N. Trading Corporation, holding no substantial question of law arises in dispute over gross profit estimation on bogus purchases.
ITAT Special Bench rules that may in Black Money Act Sec 43 means penalty is discretionary, not mandatory, requiring AO to consider assessee’s explanation before levy.
Bombay High Court quashes ITAT order that rectified its decision based on a subsequent Supreme Court ruling (Checkmate Services), affirming Sec 254(2) limits to mistakes apparent from record.
ITAT Mumbai sets aside CIT(E) order, holding Mohanji Bharat Welfare Foundation’s 80G registration application was timely, interpreting the six-month deadline from provisional approval expiry.
Bombay High Court sets aside NFAC’s ₹27.91 crore assessment on KMG Wires Pvt. Ltd., citing non-consideration of key evidence and AI-based reliance on non-existent case law.
The High Court issued an interim direction against the CIT (Exemptions) orders that rejected the condonation of significant delays in a charitable trust’s Form 10B filing. The ruling provides interim protection, ensuring the trust’s substantive exemption claim isn’t defeated by technical filing delays while the CBDT’s new restrictive guidelines are under judicial scrutiny.
