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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...
Explore the transition to GST in India, its impact on tax cascading, the role of Input Tax Credit, and its effect on the national economy.
The Income Tax Appellate Tribunal (ITAT) in Kolkata has ruled in favor of Surya Agro Products Pvt. Ltd., invalidating a tax assessment for the Assessment Year 2012-13.
The Income Tax Appellate Tribunal (ITAT) remanded the tax assessment of Maruti Enterprises back to the Assessing Officer, citing a violation of natural justice.
Delhi ITAT deletes a Rs.190 Cr tax addition on share premium, citing impermissible double taxation. The ruling upholds the principle that the same income cannot be taxed twice.
ICAI requests CBDT to extend tax audit and ITR filing deadlines due to delayed ITR utilities and seeks auto-renewal of registrations for small trusts expiring in 2026.
The CA Association Jalandhar has requested extension of TAR and 12A renewal deadlines to 30 Nov 2025 citing ITR delays, portal issues, and flood disruptions
The Income Tax Appellate Tribunal (ITAT), Bangalore, ruled that capital gains from the sale of a property gifted by a husband to his wife must be clubbed with the husband’s income, not the wife’s, under Section 64(1)(iv) of the Income Tax Act.
Learn how the ITAT, in the Jitudan Ravatdan Gadhvi vs. ITO case, condoned a delay in appeal and overturned a best-judgment assessment, finding that the taxpayer’s cash deposits were a legitimate part of his business operations.
The ITAT in Kolkata set aside a ₹9.32 crore tax addition on share sales by Superdeal Resources, ruling that well-documented transactions are not bogus. The order underscores the need for substantive evidence over suspicion.
An analysis of how direct taxes are triggered globally, exploring key taxable events, common complications, and the role of jurisprudence in India, the US, and other countries.
