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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 ITAT Ahmedabad has sent a cash deposit addition case back to the Assessing Officer for review, citing new evidence including a joint bank account with an agriculturist father and an affidavit.
The ITAT Kolkata dismissed an appeal from Ma Shanti Agro Foods Pvt. Ltd. after the tax dispute was resolved by the CBDT’s circular and a subsequent rectification by the CPC.
The ITAT Kolkata restored an assessee’s claim for a concessional tax rate under Section 115BAA, ruling that the delay in filing Form 10-IC was a procedural error.
ITAT Kolkata ruled that the relinquishment of a tenancy right is a capital gain, and exemptions under sections 54 and 54F can be claimed simultaneously.
The ITAT Ahmedabad dismissed an appeal from Goldmine Commodities Pvt. Ltd. for being defective. The court found the grounds of appeal to be verbose, argumentative, and containing irrelevant allegations, failing to comply with legal requirements.
ITAT Kolkata ruled that a reassessment is invalid if no addition is made on the original reason for reopening the case, as the foundation for the reassessment collapses.
The ITAT Kolkata restored an appeal, granting an assessee a fresh opportunity to submit evidence after the previous appeal was dismissed due to non-compliance.
Delhi High Court held that reassessment proceeding u/s. 148 of the Income Tax Act cannot be sustained as based on survey operations without there being any tangible material. Accordingly, petition allowed.
ITAT Ahmedabad deleted an income addition and penalty on a taxpayer, accepting her explanation that cash deposits came from her husband and brother.
The ITAT Delhi deleted income additions on alleged bogus loans and donations, ruling that a defective sanction for reopening an assessment beyond four years invalidates the entire proceeding.
