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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 Raipur held that additions for cessation of liability cannot be made merely because creditor confirmations were not filed when PAN details, ledger accounts, and other records were already submitted.
The Tribunal ruled that margins agreed under a Bilateral Advance Pricing Agreement may be used for non-covered AEs when transactions are functionally similar. The decision emphasized consistency and the lack of separate benchmarking by the TPO.
The Tribunal quashed the assessment after finding that the statutory conditions under Section 153C were not properly satisfied. It held that defective recording of satisfaction vitiated the entire proceedings against the third party assessee.
Mumbai ITAT observed that assessable value under customs law may differ from invoice value and such variation by itself cannot justify addition under Section 69C without further evidence.
Court held that there was no direct or indirect connection between the assessee and the handwritten inquiry register relied upon by the department. Statements recorded during search proceedings also did not mention the assessee.
The article explains why advertisement expenses for brand building remain deductible under Section 37. Courts have consistently ruled that brand promotion does not create an enduring capital asset or goodwill.
The article explains how procedural lapses in trust registration renewal can activate Section 115TD and impose heavy tax on accreted income. Even inadvertent non-compliance may create severe financial consequences.
The article explains how Section 45(5A) shifted the capital gains trigger for landowners from JDA execution to issuance of the completion certificate. It also examines the impact of RERA-regulated project timelines.
The article explains the taxation framework for cryptocurrencies, NFTs, and other VDAs under Sections 115BBH and 194S. It highlights the harsh restrictions on deductions and loss set-off.
The Telangana High Court refused to interfere with a faceless income tax assessment order despite claims of medical hardship and lack of opportunity. The Court held that repeated adjournments and failure to seek video conferencing weakened the taxpayer’s natural justice argument.
