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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...
The Finance Act (No.2) of 2024 has changed how residential rental income is taxed in India, classifying it as “Income from House Property.”
Learn about the ITAT Mumbai ruling on ABM Knowledgeware Ltd. vs. Assessing Officer regarding CSR expenditure deductibility under Section 80G and the powers of revision under Section 263.
Tribunal upholds turnover suppression in food delivery business, capping profit at 8% u/s 44AD based on survey findings and cook’s statement, overriding later-filed books.
ITAT Patna rules against a protective tax assessment on Veena Mishra, a housewife, quashing the addition after evidence of her independent income was presented.
ITAT Ahmedabad dismisses a PCIT’s order under Section 263, stating that revisionary powers cannot be used merely to direct the initiation of penalty proceedings.
ITAT Ahmedabad dismisses Revenue appeals in Shaligram Infra Projects LLP case regarding on-money additions. Key takeaways on third-party documents, profit element taxation, and telescoping principle.
ITAT Ahmedabad overturns a PCIT’s order, holding that revisionary powers cannot be used to expand the scope of a limited scrutiny to include deemed dividend issues.
The ITAT Jaipur ruled that a private trust with a single minor beneficiary cannot be taxed at the Maximum Marginal Rate. A wrong ITR form filing does not take away the right to normal slab rates.
ITAT Amritsar remands an appeal after finding that the CIT(A) failed to send notices to the correct email, denying the taxpayer a fair hearing.
ITAT Pune rules that failure to verify Section 54F deduction conditions makes an assessment order erroneous and prejudicial, upholding PCIT’s revisionary powers.
