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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...
Chennai ITAT rules that S. 194C(6) (obtaining PAN) and S. 194C(7) (filing statement) are independent. A procedural lapse in filing Form 26Q cannot justify a disallowance u/s 40(a)(ia).
The ITAT Delhi ruled that an Assessing Officer could not disregard the Tribunal’s prior order regarding the manual vs. electronic filing of Form 10, deleting the disallowance.
The ITAT Delhi dismissed the revenue’s appeal, ruling that interest on External Development Charges (EDC) is a deductible revenue expense, not a penal or capital one.
ITAT Delhi partly allows assessee’s appeal, holding Rs.70.46 lakh addition for Kolkata property wrongly made in wife’s hands; entire investment made and disclosed by husband.
Amit Kumar Singal Vs Central Bureau of Investigation (Panjab & Haryana High Court) The Punjab & Haryana High Court clarifies the law on direct bail pleas under Section 439 CrPC. Learn why an accused must show “exceptional circumstances” to bypass the Sessions Court, as ruled in a recent CBI bribery case. Bypassing Lower Courts for […]
Learn about the history of the Angel Tax in India, its impact on start-ups and investors, and the policy reforms that eventually led to exemptions for eligible new businesses.
ITAT Chennai held that invocation of revisionary proceedings under section 263 of the Income Tax Act not justified as AO has applied his mind and revision u/s. 263 cannot be possible for mere change of opinion. Accordingly, appeal allowed.
ITAT Chennai held that adhoc disallowance of expenses merely on the basis of suspicion without adequate evidence and cogent reason is not tenable in law. Accordingly, adhoc disallowance under repair and maintenance and sundry expense set aside.
Karnataka High Court held that re-adjustment of ALP without passing a Draft Assessment Order as required under section 144C of the Income Tax Act is not tenable in law. Accordingly, order passed thereon is void ab initio.
ITAT Pune rules that PCIT cannot revise an assessment under Section 263 if the AO took a plausible view. The 10% tolerance limit under Section 43CA is retrospective.
