Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.
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 quashed the assessment after finding that crucial JSK Server data, screenshots, and investigation records were never provided to the assessee. The ruling reiterates that additions based on undisclosed evidence violate principles of natural justice.
The article explains all important income tax deadlines for FY 2026-27 under the new Income Tax Act, 2025. It covers advance tax, TDS, ITR filing, audit reports, and penalties for non-compliance in a month-wise format.
The Income Tax Department increased monetary thresholds for assigning cases between ITOs and D/ACITs in Delhi Region. The revised limits aim to streamline jurisdictional allocation and improve administrative efficiency in tax assessments.
ITAT Mumbai held that a company engaged in publishing platforms, software solutions, and product development could not be compared with a limited-risk captive ITES service provider. Exclusion of the comparable eliminated the transfer pricing adjustment.
Tribunal found the DRP’s order cryptic and lacking proper analysis on similarity of business activities between the assessee and selected comparables. Fresh examination was directed regarding comparability and ALP computation.
The ITAT Surat held that bank transactions reflected cheque discounting business activity and could not be fully treated as unexplained cash credits under Section 68. Only estimated commission income and profit were sustained.
Assessee argued that conclusions drawn from a 2005 survey on liaison offices could not be applied mechanically to later branch office structure. ITAT directed fresh examination of branch office’s actual functions and activities.
ITAT ruled that although LTC exemption involving foreign travel stood disallowed by SC, such judgment could not retrospectively impose TDS default liability for periods covered by judicial interim protection.
Kolkata ITAT observed that suppressed turnover results in savings of rent, salary, and fixed expenses, warranting higher profit estimation, though not at the rate applied by the Assessing Officer.
The ITAT Chennai restored the assessment matter to the Assessing Officer after noting that the assessee’s condonation petition under Section 119(2)(b) was still pending. The Tribunal held that the decision on condonation directly affected eligibility for deduction under Section 80P.
