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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...
The ITAT confirmed that a commission paid to non-resident agents operating solely abroad, without a Permanent Establishment (PE) in India, is not taxable in the country. This finding resulted in the cancellation of the disallowance made under Section 40(a)(i) for non-deduction of tax.
The Tribunal ruled that an HUF, the beneficial owner of the income, cant be denied TDS credit just because the tax was initially shown in the Kartas PAN. The matter was remitted to the Assessing Officer to verify subsequent compliance with Rule 37BA(2) and the updated Form 26AS to prevent the Revenues unjust enrichment.
The Tribunal ruled that cash deposits during demonetisation, sourced from verifiable housing loan withdrawals, were explained and not unexplained income. Following the P&H HC, the ITAT held that the retention of cash for construction, even for a long time, doesnt justify the addition when the source is proven.
The Tribunal held that the Jurisdictional AO lacked the legal authority to issue the Section 148 notice after the CBDTs notification mandating the Faceless AO. Since the foundation of the reopening was flawed, the subsequent additions of over ₹1.5 Crore were deleted, and the entire assessment order was quashed.
The appellate tribunal affirmed that the crucial factor for allowing full depreciation is that the seller had not claimed any depreciation on the assets transferred in the slump sale. The ruling confirms that meeting the 180-day use condition for assets, including acquired goodwill, fully satisfies Section 32(1) requirements.
The Tribunal held that the AO and CIT(A) erred by rejecting the explanation (withdrawal via bearer cheque) simply because the assessee had not used that method before. The ruling emphasized that the Department cannot reject a proven source unless it brings contrary evidence of an alternate undisclosed source.
ITAT Hyderabad remanded a reassessment case to verify the dispatch date of the Section 148 notice (speed post/email). The ruling, guided by the Delhi HC s Suman Jeet Agarwal case, states the date of delivery to the post office determines the notice’s validity.
The ITAT set aside the mechanical rejection of the Form 10AB application and the cancellation of the provisional 80G approval, emphasizing substance over form. The provisional approval remains valid until the CIT(E) passes a fresh order after verifying the trust’s charitable activities.
ITAT Hyderabad deleted the Capital Gains addition in AY 2016-17, ruling that conditional possession under a JDA for mere development is NOT transfer u/s 2(47)(v). Tax is due only when full possession is handed over, confirming taxability in AY 2019-20.
The Tribunal held that a generic, non-specific satisfaction note and the absence of incriminating material belonging to the assessee-company rendered the Section 153C proceedings invalid from the outset.1 Consequently, the entire assessment, including additions for commission income, was quashed.
