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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...
Rajasthan High Court granted a one-month extension for filing TARs under Section 44AB for AY 2025-26, citing delayed audit utility release and systemic e-filing portal glitches causing widespread hardship.
Recurring advisory/consultancy services without transfer of know-how/technical skill did not satisfy “make available” requirement under Article 12(4)(b) DTAA and therefore, payments couldn’t be taxed as FTS.
ITAT Kolkata deletes Rs.8.5 lakh addition for cash gift against Abdus Sattar. Tribunal ruled that the donor’s capacity must be judged by his balance sheet, not just current income, reversing the CIT(A)’s finding.
ITAT Kolkata deletes Rs.50 lakh addition for excess stock found during survey, ruling the AO failed to point out defects or reject audited books. Assessee had already accounted for the stock and paid advance tax.
ITAT Kolkata partially allows appeal for Sukumar Solvent, slashing additions. Tribunal ruled only the 12% profit margin on excess stock is taxable and that TDS on freight is not required if PAN is provided by the transporter.
ITAT Kolkata deletes S. 270A penalty on St. Peters School for disallowed depreciation. Tribunal ruled the incorrect claim was a bona fide clerical error, not misreporting, citing the Reliance Petro and Price Water House SC judgments.
ITAT Kolkata deletes Rs.19.37 lakh disallowance of Service Tax against Space Out of Home. Tribunal found the AY 2018-19 portion was paid in time and the balance was pending appeal before the CGST authority.
ITAT Kolkata reduces Rs.31.78 lakh addition for excess stock found during a survey. Tribunal rules that since the stock was business income, only the profit element, fixed at 12%, is taxable.
ITAT Kolkata allows Durgapur Education Society’s appeal, remanding the case to the CIT(A) for fresh consideration. The Tribunal condoned a 369-day delay and ordered examination of the society’s S. 12A exemption claim and its retrospective application for AY 2015-16.
ITAT Kolkata partially reverses CPC’s Rs.6.56 lakh disallowance for Payal Enterprise. S. 38 of EPF Scheme means due date is 15 days from salary payment month, not due month, making certain payments timely.
