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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 Kolkata allows Govinda Debnath’s appeal for statistical purposes. Tribunal condoned the 126-day delay after finding the assessee received no CIT(A) hearing notices, remanding the case for fresh, merits-based adjudication.
ITAT Kolkata remands Lakshmi Ojha’s AY 2020-21 appeal to the AO. The Rs.1.76 crore addition for property value difference must be re-adjudicated after obtaining a mandatory valuation report from the DVO in the interest of justice.
Compare deductions under India’s old and new tax regimes. Learn which tax-saving options, including Standard Deduction and Gratuity, are available in each.
Effective A.Y. 2024-25, the new tax regime is the default. Taxpayers with business or professional income must file Form 10-IEA to opt for the old regime.
The Tribunal ruled that the addition, based on uncorroborated loose papers and rough jottings, was invalid. The decision followed a similar ruling in a co-partner’s case, establishing that such evidence without independent verification cannot be the sole basis for taxation.
The ITAT Delhi has set aside the reassessment of Avon Containers, ruling the Income Tax Department’s notice void.
The court found that the CIT(E) had failed to adequately examine whether the trust’s religious activities were within the 5% limit allowed under Section 80G(5B) and had also not provided the trust with a proper opportunity to be heard.
The ITAT Nagpur has set aside a penalty of ₹11.8 lakh imposed on Kirtikumar Haribhai Patel, ruling that the penalty, being consequential to the assessment order, cannot survive once the original assessment is restored for fresh adjudication.
ITAT Ahmedabad upheld reopening of assessment for undisclosed high-value property sale, but remanded the Rs. 2.01 crore capital gain for fresh valuation due to flawed valuation reports.
The Income Tax Appellate Tribunal (ITAT) Pune has significantly reduced the tax addition against an advocate for unexplained cash deposits.
