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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 : 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 : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...
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 : ITAT Chandigarh held that the assessee could not establish the authenticity of the purchase transactions underlying the LTCG claim...
Income Tax : The High Court upheld denial of Section 10(38) exemption after concurrent findings established that the share transactions lacked ...
Income Tax : The Delhi High Court upheld the denial of Section 10(38) exemption after finding that the authorities had rightly treated the shar...
Income Tax : The High Court held that issuing a demand notice along with a draft assessment order violated the mandatory procedure under Sectio...
Income Tax : The Court found that the ITAT wrongly held there was no business income despite the assessment record showing income under “Busi...
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 held that effective opportunity of hearing was not provided before passing ex parte assessment and appellate orders. The matter relating to sustained addition was remanded back to the Assessing Officer for fresh adjudication.
The article explains how multinational digital companies generate substantial revenue from Indian users while shifting profits to low-tax jurisdictions. Existing transfer pricing rules struggle to capture value created through digital presence and data monetisation.
The Supreme Court declined to interfere with the Delhi High Court order quashing reassessment notices issued to multiple foreign companies of the GE Group. The High Court had held that the Assessing Officer lacked tangible material to reopen assessments.
The Court rejected the Revenue’s argument that payments for bandwidth and telecom connectivity constituted consideration for use of equipment. It held that the remittances were not royalty and therefore outside the scope of TDS liability.
The Mumbai ITAT held that reassessment under Section 148 cannot be initiated after three years unless the alleged escaped income exceeds ₹50 lakh. Since the disputed amount was only ₹7.10 lakh, the reopening was quashed.
The Mumbai ITAT held that expenditure on software licences, maintenance, database access and periodic upgrades is allowable as revenue expenditure. The Tribunal ruled that mere use of software does not create a capital asset or enduring ownership right.
The Mumbai ITAT held that the Assessing Officer cannot impose the maximum 90% penalty under Section 271AAB without recording extraordinary reasons. In absence of special circumstances, the penalty was restricted to the minimum prescribed rate of 30%.
The Mumbai ITAT held that taxability cannot be conclusively decided while an application for exemption under Section 10(46) remains pending before the CBDT. The matter was restored to the AO for fresh adjudication after the CBDT’s final decision.
ITAT Hyderabad held that CPC cannot make adjustments under Section 143(1)(a) without issuing prior intimation to the assessee as mandated by law. The Tribunal quashed the tax adjustment denying concessional tax benefits because the mandatory opportunity of response was not provided.
The Income Tax Department’s new TDS payment system under the Income Tax Act 2025 allows multiple TDS payments through a single challan. The change reduces repetitive filings, OTP verifications, and compliance hassles for taxpayers.
