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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...
Summary of the Bombay High Court judgment where a charitable trust’s oversight in e-verifying its Form 10B was considered a human error and the delay was condoned, securing its Section 11 income tax exemption for A.Y. 2017-18.
ITAT Pune deletes ₹14 lakh cash deposit addition during demonetization, ruling that retaining cash from duly accounted sources for a long period is not grounds for suspicion.
The ITAT confirmed that the stamp duty value on the agreement date should be used for tax calculation, not the registration date, when part consideration is paid electronically beforehand.
Mumbai ITAT restored Discover Ekam Foundation’s Section 12AB registration matter to the CIT(E). Rejection, based on overseas fund use, will be re-adjudicated considering the trust’s revised Memorandum of Association.
CBDT directs Assessing Officers to standardize verification of pre-operative and film production expenses, following C&AG audit and PAC report.
Karnataka High Court held that the Rs.25 lakh addition towards gross profit was unsustainable, as the Assessing Officer and Tribunal failed to provide a rational basis for estimation, despite proper books of account and explanations regarding exchange rate fluctuations.
ITAT Delhi held that a Local Authority providing general public utility services is not required to maintain books under Section 44AA. The penalty under Section 271A for non-maintenance of books was deleted.
ITAT Agra condones a 3-year, 5-month delay in a non-profit’s tax appeal, applying the Supreme Court’s COVID-19 limitation exclusion. The appeal is restored for a decision on merits.
ITAT Mumbai sends a lakh partner remuneration disallowance case back to AO for re-verification. The disallowance hinged on classifying property sale profit as capital gain.
Bombay High Court condones 81-day delay by Institute of Actuaries of India in filing Form 10BB, holding denial of exemption unjust for minor procedural lapse.
