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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...
Delhi ITAT directed exclusion of a comparable company engaged in video conferencing solutions after noting that the DRP had already found it functionally incomparable to the assessee’s software distribution business.
Lucknow ITAT held that disallowance under Section 14A read with Rule 8D cannot exceed the exempt dividend income earned by the assessee. The Tribunal restricted the addition to the actual exempt income amount.
The Tribunal held that the first appellate authority should reconsider the matter after the jurisdictional High Court decides pending cases concerning alleged bogus purchase bills by rice millers.
The courts upheld LTCG exemption under Section 10(38) after finding that the Revenue failed to produce evidence linking the assessee to alleged penny stock manipulation. Documentary records, banking transactions, and Demat evidence supported the genuineness of the share transactions.
Tribunal ruled that once DSIR certifies R&D expenditure under Section 35(2AB), the Assessing Officer cannot disregard the claim without following the statutory procedure. The decision reinforces the importance of DSIR certification in weighted deduction disputes.
The Jodhpur ITAT condoned a 30-day delay in filing an income tax appeal after holding that the delay fell within the Supreme Court’s COVID-19 limitation exemption period. The matter was remanded to the CIT(A) for fresh adjudication.
The Calcutta High Court held that the assessing officer misconstrued CBDT Circular No. 11 of 2024 while rejecting carry forward of loss due to a seven-day filing delay. The Court directed the authorities to condone the delay and process the return according to law.
The Delhi ITAT held that advertisement and marketing expenses could not be treated as an international transaction without evidence of an arrangement with the associated enterprise. The Tribunal deleted the transfer pricing adjustment and rejected the application of the Bright Line Test.
The Supreme Court dismissed the Revenue’s SLP after the Calcutta High Court upheld the ITAT finding that reassessment proceedings were invalid as the AO had only suspicion and no valid reason to believe income escaped assessment.
The High Court ruled that reopening under Sections 147 and 148 was unsustainable because the Assessing Officer’s reasons amounted only to suspicion and not a valid reason to believe income had escaped assessment.
