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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...
SC held Hyatt’s oversight of Indian hotels created a fixed-place PE, broadening disposal and continuity tests under the India–UAE tax treaty.
Learn key provisions of depreciation under Section 32, including eligibility, ownership, usage conditions, asset types, and applicable rates for tax purposes.
Jewellers Get ITAT Relief: Inventory Software Unaccounted Income. ITAT Chennai restricts profit on unaccounted sales to 2.5% for Mohanlal Jewellers; deletes additions on Ghat, MC Khata, Byaj, and Vatav. Corroboration is key.
Chennai ITAT set aside the assessment for exceeding the limited scrutiny scope and disallowing 80P without a speaking order or SCN. Remanded the case for fresh, compliant adjudication.
Chennai ITAT rules Dividend Distribution Tax (DDT) is a company tax and not covered by DTAA, rejecting the refund claim. Separately, it capped the TDS disallowance at 30% under Section 40(a)(ia).
Delhi High Court held that seized amount is prima facie proceeds of crime and not lawful income hence to treat such amounts as taxable income recoverable by the Income Tax Department, prior to the conclusion of the PMLA trial or adjudication, would be erroneous. Accordingly, petition dismissed.
SCIPL Vs DCIT: ITAT Delhi deletes huge additions, ruling that WhatsApp Excel sheets are dumb documents. Suspicion isnt evidence; corroboration is mandatory in search assessments. Deletions on alleged foreign fund diversion & bogus expenses upheld.
ITAT Ahmedabad held that law doesn’t require brought forward additional depreciation from preceding year to be set off against opening WDV of the assets. Thus, revision u/s. 263 of the Income Tax Act not sustained as order of AO not erroneous.
ITAT Chennai allowed Lotus Footwear’s 100% SEZ deduction u/s 10AA for Unit-2, ruling it was a new undertaking established with fresh capital and not a splitting of the existing unit
The ITAT Delhi remanded the ₹3.94 Cr unexplained cash deposit addition against commission agent Manoj Kumar to the CIT(A). The Tribunal ordered a fresh verification of the taxpayer’s cash flow, noting the lack of agreements and reconciliation of deposits with books.
