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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...
The Tribunal remanded the case for de novo assessment to verify the reporting of cash deposits made during demonetisation under the assessee’s second PAN, citing a lack of proper opportunity for hearing.
The ITAT Agra set aside an ex-parte order dismissing a tax appeal, ruling that the CIT(A) must adhere to Section 250(6) by providing a reasoned order on the merits of the additions, even if the assessee is non-cooperative.
The Kerala High Court, in Poovachal Rural Housing Co-Operative Society Ltd. Vs JCIT, directed the Faceless Assessment Centre to use the Verification Unit for physical examination of a co-operative society’s voluminous cash book, acknowledging the difficulty of complete online submission.
ITAT Ahmedabad restored a case where the CIT(A) upheld a major loss disallowance stemming from client code modification (CCM) without proper hearing. The Tribunal found the CIT(A) failed to consider that the addition was based on unsubstantiated claims from a report, directing a fresh hearing to examine evidence of genuine trading.
ITAT Raipur set aside the levy of fees under Section 234E for delayed TDS statements filed before the 01.06.2015 amendment to Section 200A. Following the Karnataka High Court ruling, the Tribunal held that in the absence of an enabling provision for computation, the levy of a late fee for the period before that date is unenforceable.
ITAT Rajkot confirmed that for a small trader opting for Section 44AD, the presumptive income covers the cash deposits related to the business cycle, making any separate addition for unexplained money (Section 69A) unjustifiable. The entire addition was deleted as the tax authorities acted on mere suspicion without bringing any contrary evidence to disprove the business nature of the deposits.
ITAT Kolkata set aside the revisionary order, finding the PCITs basis—that no supporting documents for the share LTCG were on record—was factually incorrect. The Tribunal ruled that the AO had taken a plausible view after due inquiry, and the PCIT cannot use Section 263 to substitute his own view for the AOs.
The Tribunal ruled that the AO erred by blindly relying on NMS data to make a ₹1.23 crore addition for unexplained investment under Section 69. Since the registered sale deed proved the actual consideration was only ₹30 lakh (higher than the circle rate), the addition was deemed baseless and deleted in full.
ITAT Ahmedabad ruled that the lower authorities were wrong to confirm the addition for foreign currency found during the search, as the assessee provided a chart detailing various family trips abroad. The decision confirms that, in the absence of contrary evidence by the Revenue, a plausible explanation supported by travel records is enough to discharge the burden of proof.
ITAT Ahmedabad ruled that a penalty under Section 271(1)(c) cannot survive when the underlying quantum addition has been remanded for fresh adjudication. The penalty order was restored to the CIT(A) to be decided only after the quantum appeal is finalized.
