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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...
Understand the tax rules for cash gifts from grandparents in India. Learn why proper documentation is crucial to avoid scrutiny from the Income Tax Department.
The Income Tax Appellate Tribunal (ITAT) Ahmedabad dismissed the Revenue’s appeal, confirming the deletion of additions made under Section 68 of the Income Tax Act.
Tribunal held that once a scrutiny assessment under Section 143(3) allows a claim, any earlier disallowance by CPC under Section 143(1) merges into it and loses force.
The ITAT Ahmedabad has deleted a ₹55 lakh addition made under the “accommodation entry” theory, ruling that the repayment of loans through banking channels negated any benefit to the assessee, thereby making the addition and the reassessment legally unsustainable.
The Income Tax Appellate Tribunal (ITAT) Nagpur condoned a 729-day delay in Rupa Abhay Vyas’s appeal, citing the death of her legal counsel during the COVID-19 pandemic and her subsequent medical diagnosis.
Understand the difference between Previous Year and Assessment Year in Indian tax law, including the standard rule and key exceptions to tax assessment.
Tribunal held that technical issues in filing Form 56F cannot bar deduction under Section 10AA. Meghmani LLP’s Rs. 4.82 crore claim allowed as form submission was directory, not mandatory.
In a case concerning a real estate transaction, the Income Tax Appellate Tribunal (ITAT), Ahmedabad, held that an assessment under Section 153C was invalid as no incriminating material was found from the assessee.
The ITAT in Hyderabad has remanded the case of Capital Fortunes to the AO, ruling that the CIT(A) was not justified in dismissing the appeal on a technicality. The tribunal held that genuine claims, such as set-off of losses and dividend exemption, must be decided on their merits.
The Income Tax Appellate Tribunal (ITAT) Nagpur has invalidated reassessment proceedings against Mithilesh Jagdeo Singh Pawar, ruling that the case was reopened on a matter already examined during the original scrutiny assessment.
