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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 Delhi upheld reassessment u/s 147 for cash deposits during demonetisation. Demon deposits issue remanded to AO; GP on non-demon deposits reduced from 8% to 4%.
ITAT Mumbai has remanded a case back to AO, ruling that CIT(A) erred in accepting a 5% profit margin without supporting evidence or comparable cases.
Kolkata ITAT ruled that a late-filed audit report is a procedural lapse, not a reason to deny an educational society’s tax exemption under Section 10(23C).
The ITAT Delhi has partially allowed an appeal by an accommodation entry provider, reducing the assessed commission rate and upholding a penalty for a delayed tax audit report.
ITAT Kolkata cancels a Section 144 assessment, ruling that the foundational Section 143(2) notice was invalid for failing to comply with mandatory CBDT instructions on scrutiny formats and jurisdictional limits.
The ITAT Mumbai upheld deletions of additions made under Section 68, ruling that share trading losses and profits, declared as business income and supported by documentation, could not be treated as unexplained income based solely on penny stock allegations.
ITAT Delhi rules against double taxation, deleting a Rs.50.18 lakh addition after finding that cash deposits were sourced from sales already accepted and taxed.
ITAT Bangalore rules against using high-turnover IT giants as comparables for smaller captive service providers in transfer pricing, citing scale and brand value differences.
ITAT Mumbai ruling clarifies PCIT’s Section 263 powers, quashing new issues and CSR/80G claims, but remitting TDS matters for further AO verification.
ITAT Chandigarh deletes an addition, ruling that an unsigned and unregistered agreement to sell is not valid evidence for making an addition under Section 69 or 69B.
