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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...
ITAT Hyderabad held that reasoning given by CIT(A) for deletion of addition made u/s. 69A of the Income Tax Act by Assessing Officer towards cash payment is contrary to material on record and cannot be accepted.
ITAT Mumbai held that additional evidence demonstrating that no tax advantage accrued to assessee owing to continuous losses needs verification. Accordingly, matter of imposing penalty u/s. 271(1)(c) remanded back.
Supreme Court reinforces that Section 269SS violation doesn’t invalidate a debt under the NI Act. It upheld conviction in Sanjabij Tari vs. Kishore Borcar, stressing presumptions under Sections 118 & 139.
ITAT Chandigarh has set aside the CIT(E)’s order cancelling the registration of Aryans Educational & Charitable Trust, holding that issues previously settled by the Tribunal cannot be re-opened for cancellation.
Supreme Court shortens tax appeal deadline to two months for an Educational Society seeking a large income tax refund mistakenly denied, overriding the High Court’s one-year timeline.
Tribunal held that a personal loan taken against mortgage was advanced to the spouse with interest, and netting of interest paid and received is allowed under Section 57. Disallowance of ₹7.68 lakh was deleted.
ITAT Mumbai deletes ₹14.5 Cr addition u/s 68 on unsecured loans, ruling onus shifts to Revenue once taxpayer provides PAN, bank statements, and ITRs of lenders.
ITAT Chandigarh deletes ₹1.64 Cr tax addition, ruling interest under Section 28 of the Land Acquisition Act is part of compensation, exempt under Section 10(37) for agricultural land.
Assessee did not comply with subsequent statutory notices, leading to an ex-parte assessment order under section 144, where the entire cash deposit was added back to its income under section 69A.
ITAT Hyderabad rules Excel sheets from an accountant’s laptop aren’t ‘books’ or ‘assets,’ quashing reassessment notices against Exel Rubber for mechanical sanction and insufficient evidence.
