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Income Tax : The article explains how accurate Form 10BD reporting protects donor deduction claims, prevents penalties, and ensures consistency...
Income Tax : The article explains what remains unchanged under the new tax law while highlighting critical compliance checks taxpayers should u...
Income Tax : AO rejects books of accounts and applies flat net profit rate. Can taxpayer claim depreciation separately or is it embedded in tha...
Income Tax : The article highlights common return filing errors, including wrong ITR forms and income mismatches, that can result in defective ...
Income Tax : The ITAT Bangalore held that no disallowance under section 14A read with Rule 8D can be made where the assessee did not earn exemp...
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 Tribunal quashed the reassessment after finding that the assessee had already filed the return under Section 139 before issuan...
Income Tax : The Tribunal ruled that the Revenue cannot assess the full transaction value in the hands of a confirming party absent proof of be...
Income Tax : ITAT deleted the addition after finding that neither possession nor ownership had passed during the relevant assessment year. The ...
Income Tax : The Court emphasized that reassessment proceedings must comply with principles of natural justice by providing an effective opport...
Income Tax : ITAT held that proving the mode of payment is not enough to secure deduction for political contributions where evidence points to ...
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 Delhi High Court set aside an assessment order after finding that the Assessing Officer failed to consider the assessee’s reply filed on the same date as the order. The Court held that this violated principles of natural justice.
The ITAT held that credits received in the assessee’s bank account were repayments of earlier advances and not unexplained cash credits. The Tribunal deleted the addition after finding that the transactions were supported by bank records and financial documents.
Tribunal ruled that income tax demands not included in the approved resolution plan were irrevocably extinguished. The decision followed the terms of the NCLT-approved insolvency resolution plan restored by the Supreme Court.
TAT Chandigarh held that reassessment proceedings were invalid because the property was actually purchased from a different company than the one referred to in the recorded reasons. The Tribunal found absence of any live nexus between the assessee and the alleged incriminating material.
The Madras High Court ruled that an unregistered Joint Venture Agreement without actual transfer of possession or consideration could not amount to a transfer under Section 2(47). The Court held that no capital gains tax liability arose for the relevant assessment year.
ITAT Mumbai held that disallowance computed under Section 14A cannot be directly added while computing book profits under Section 115JB. Matter was remanded for fresh computation following the Vireet Investment ruling.
The Kolkata ITAT deleted an addition against an employees gratuity fund after finding that gratuity payments were higher than the interest income earned during the year. The Tribunal held that excess expenditure over income meant no taxable addition could survive.
The ITAT Agra held that cash deposits could not be treated as unexplained where the assessee had already disclosed commission income in the income tax return. The Tribunal granted relief after finding that the Assessing Officer failed to consider the declared income source.
The ITAT Visakhapatnam held that a reassessment notice issued after expiry of six years for AY 2015-16 was barred by limitation under the first proviso to Section 149(1). The Tribunal ruled that the amended ten-year reopening period could not revive time-barred cases.
The Delhi High Court held that tax authorities should ordinarily grant complete stay of disputed demand when the issue is already covered in favour of the assessee by a binding jurisdictional High Court judgment.
