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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 deleted a ₹10.61 lakh penalty against Snehalkumar Bhogilal Trivedi, ruling that a notice citing both under-reporting and misreporting of income was void due to ambiguity.
ITAT Raipur rules that mechanical or “rubber-stamp” approvals under Section 153D are invalid, requiring the approving authority to apply independent mind and provide case-specific reasoning.
ITAT Bangalore deletes an income tax addition for Maloo Constructions, ruling that purchases were not bogus despite a third-party report. The decision emphasizes that disallowances require more than mere suspicion and must be supported by independent inquiry.
Borrow at 12%, Lend at 5% ITAT Kolkata Partly Upholds Interest Disallowance – Interest-Free Funds Presumption Applied – ITAT Kolkata Remands Excess Disallowance for Verification
ITAT Hyderabad quashes the cancellation of John Foundation’s registration, ruling that the action was based on suspicion rather than evidence.
The ITAT Mumbai ruled that a penalty cannot be levied on additions made on an estimated basis. The case of Khodiyar Impex vs. ITO clarified that a 3% disallowance on alleged bogus purchases doesn’t constitute concealment of income.
The ITAT Bangalore has ruled that the levy of late fees under Section 234E is invalid for periods before June 1, 2015, as the legal framework was not in place.
ITAT Kolkata dismisses revenue’s appeal, ruling that repaid unsecured loans cannot be treated as unexplained cash credits under Section 68 of the IT Act.
ITAT Kolkata rules that non-compliance with summons by investors is not a valid reason to add share premium as unexplained income if the assessee provides full documentation.
The ITAT Delhi has ruled that a charitable society is eligible for a tax exemption, even with a delayed Form 10B submission due to a technical portal glitch.
