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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 your rights during tax surveys and searches under Sections 133, 133A, and 132 of the Income-Tax Act, 1961, with insights on statutory and constitutional safeguards.
A guide for tax professionals on how to respond to a Section 131 income tax notice, covering legal procedures, best practices, and avoiding penalties.
This document provides an in‑depth, practitioner‑level treatment of replies to notices issued under Section 142(1) of the Income‑tax Act, 1961.
Understand PGBP taxation in India: scope, deductions, presumptive schemes, and judicial interpretations under the Income-tax Act, 1961. Essential for entrepreneurs and professionals.
Karnataka High Court held that for AY 2014-2015, assessee couldn’t be classified as wholesale trader as both the specified conditions are not satisfied. Accordingly, in terms of notification no. 30/2013 tolerance range of 3% to be adopted.
ITAT Delhi rules that a single omnibus approval under Section 153D is invalid. Assessments and penalty quashed as approvals must be year-specific with application of mind.
ITAT Hyderabad held that once the resolution plan is approved by the NCLT and the Company has been sold on going concern basis, whatever claims made before the Liquidator is final and all past or existing liabilities shall extinguish. Accordingly, matter restored back to re-examine claim made before liquidator.
The ITAT in Surya Kant Gupta vs. ITO deleted an income addition, ruling that cash withdrawals can explain deposits and the 60% tax rate doesn’t apply retrospectively.
ITAT Delhi held that applicability of section 115BBE of the Income Tax Act without initially fixing the addition under any of the charging provisions i.e. section 68, 69, 69A, 69B, 69C and 69D of the Income Tax Act is not tenable in the eye of law. Accordingly, appeal allowed.
The ITAT Delhi quashed a tax assessment against Melody Enterprises, ruling that the approval granted under Section 153D was mechanical, invalid, and lacked proper scrutiny.
