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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 Delhi ITAT has quashed a penalty under Section 271(1)(c), ruling that an “omnibus” no-tice that failed to specify the charge against the taxpayer was invalid and showed non-application of mind.
The ITAT Delhi upheld the deletion of a ₹39.83 crore addition to Santosh Trust, ruling that its cash deposits during demonetization were explained by regular fee collections
The Karnataka High Court rules free prototypes from AEs are not taxable under Section 28(iv), and payments for general employee training are not taxable as FTS under the India-Singapore DTAA.
The Supreme Court has quashed a prosecution for wilful tax evasion, ruling the tax department violated its own CBDT circulars by pursuing the case after the Settlement Commission granted immunity.
ITAT Bangalore upholds the deletion of a Section 56 addition. The sale of jewellery inherited through a will constitutes a long-term capital gain, allowing the assessee to claim a Section 54F deduction.
Kolkata ITAT has ruled that an unsigned assessment order is invalid, even if electronically authenticated. ITAT emphasized that signing and authentication are distinct legal requirements.
ITAT Ahmedabad rules that capital gains are taxable only upon the execution of a registered sale deed, not a POA, and an AO’s addition in the wrong AY is invalid.
The Delhi ITAT has remanded an ex-parte tax assessment, directing the AO to re-examine additions for unexplained investment and creditors after giving the taxpayer a fresh hearing.
The Income-Tax Act, 2025 replaces the 1961 law, aiming to simplify compliance, enhance transparency, and align with global tax standards in India.
ITAT Bangalore rules that cooperative societies can claim Section 80P deduction on interest from other co-ops, but not from scheduled commercial banks.
