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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...
It is settled proposition of law that CBDT circulars are binding on department and it has to be strictly followed by officers of department. AO cannot be permitted to travel beyond the issues for which case was selected for limited scrutiny without taking mandatory permission from concerned PCIT or Pr.CCIT.
CBDT modifies Circular No. 9 of 2022, extending the deadline for investments under clause 23FE of the Income-tax Act from March 2025 to March 2030.
Even if a house property is vacant for the whole of the current year, but it is let out in earlier years, then benefit of vacancy allowance u/s 23(1)(c) must be allowed and no addition towards notional rent can be made by applying section 23(1)(a) of the Income Tax Act 1961. Vivek Jain v ACIT [337 ITR 74 (AP)] distinguished.
ITAT Chennai held that delay of 373 days in filing of an appeal due to prolonged hospitalization and surgery and ultimate demise of Chartered Accountant handling tax matter is reasonable cause and hence condoned. Further, matter remitted since disallowance towards employee contribution to ESI/PF needs to be factually verified.
Pune ITAT voids Rs 1 crore penalty against Karia Builders. Tribunal rules penalty proceedings are invalid if the underlying assessment is legally flawed and highlights the need for proper sanction for reassessment notices.
The ITAT Pune ruled on whether land acquisition compensation received by a partnership firm is taxable, clarifying the scope of exemptions under the RFCTLAAR Act and related circulars.
The Income Tax Appellate Tribunal (ITAT) in Pune dismissed the Revenue’s appeal against a penalty deletion, ruling it was not maintainable due to a low tax effect. The Tribunal held that the new CBDT Circulars, which do not include an exception for audit objections, are applicable to pending appeals.
The ITAT Delhi quashed a rectification order against Avia Xpert, ruling the disallowance of employee PF/ESI contributions was illegal due to a lack of prior notice and the issue being a debatable matter at the time.
ITAT Rajkot held that imposition of penalty u/s. 271B of the Income Tax Act for not getting books of accounts audited cannot be sustained since assessee has filed return u/s. 44AD and there is no need to maintain books of accounts u/s. 44AD.
The ITAT Pune ruled on whether an assessment order was erroneous and prejudicial to the revenue concerning cash deposits during the demonetization period, providing key clarifications on Section 263 of the Income Tax Act.
