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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...
Mumbai ITAT quashes ₹1.76 Cr unexplained investment tax on NRI homemaker, ruling joint registration doesn’t justify addition when funds came solely from husband.
ITAT Delhi held that reopening under Section 148 on an incorrect PAN and with mechanical sanction by PCIT is invalid, quashing the Rs. 3.50 crore addition under Section 68 and setting aside reassessment proceedings.
ITAT quashes DCIT’s 153C assessments for Piyush Bongirwar, holding that a single diary page pertaining only to AY 2013-14 cannot justify assessment for later years without specific incriminating material.
ITAT Mumbai allows Nikhil Manjrekar’s Sec 54 claim, directing deletion of LTCG disallowance; substantive proof of property reinvestment sufficed despite technical objection.
ITAT Delhi deletes AO’s ad hoc 50% expense disallowance and excess vessel cost addition for JITF Waterways. Upholds CIT(A)’s reliance on S43(1) Expl. (6) for asset cost.
ITAT Delhi quashes search assessments for Jagat Group, ruling that a single, consolidated approval letter for multiple assessees and years under Section 153D was invalid and mechanical.
Tribunal held that interest earned on FDs from borrowed funds for a highway project under construction must be capitalized against CWIP, dismissing Revenue’s claim to tax it as income from other sources.
Summary of Section 37(1) IT Act for business expenditure deduction. Covers “wholly and exclusively” test, commercial expediency, and disallowance of capital, personal, and illegal expenses.
ITAT Mumbai sets aside PCIT’s order, holding that AO’s acceptance of Section 80G deduction for CSR expenditure after inquiry is a plausible view, immunizing it from Section 263 revision.
Mumbai ITAT sets aside CIT(A) remand for LTIMindtree; holds AO’s S144 mention was clerical, assessment was S143(3). Directs CIT(A) to decide TP issue on merits.
