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Income Tax : The revised ITR forms for AY 2026-27 introduce new tax slabs, expanded ITR eligibility, and enhanced disclosure requirements. Unde...
Income Tax : The article argues that the daily backup requirement under Rule 46(8) applies only to books maintained in electronic mode, not mer...
Income Tax : Judicial authorities have held that Foreign Tax Credit is a substantive right and cannot be denied merely due to procedural delays...
Income Tax : This guide explains how unexplained cash credits under Section 68 and related provisions can attract steep taxation under Section ...
Income Tax : The document outlines how MAT and AMT ensure that companies and eligible non-corporate taxpayers pay a minimum level of income tax...
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 Delhi ITAT sustained the addition arising from the sale of listed shares after finding discrepancies in purchase records, incl...
Income Tax : ITAT Lucknow held that derivative losses incurred by a spouse using funds gifted by the assessee can be clubbed and set off under ...
Income Tax : While recognising that earlier judgments had invalidated JAO-issued notices, the Court avoided passing orders that would make the ...
Income Tax : The Delhi ITAT held that where purchases are reflected in accepted sales and closing stock, the entire purchase amount cannot be d...
Income Tax : The Delhi ITAT held that repeated non-compliance with statutory notices transformed the reassessment into a best judgment assessme...
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...
Purna Purshottam Exports Vs PCIT (Central) (ITAT Mumbai) Summary: The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled in favor of Purna Purshottam Exports, stating that the Principal Commissioner of Income Tax (PCIT) cannot invoke Section 263 of the Income Tax Act, 1961, if the Assessing Officer (AO) has already conducted a thorough […]
Income Tax Bill 2025 introduces changes to TDS, TCS, and LRS provisions, raising threshold limits and reducing compliance burdens. Effective from April 1, 2025.
CIT International Tax- 1 Vs Expeditors International of Washington INC (Delhi High Court); ITA 202/2022; Dated: 13/02/2025 In a significant ruling delivered on February 13, 2025, the Delhi High Court dismissed a series of appeals by the Commissioner of Income Tax (International Tax) against Expeditors International of Washington Inc., clarifying the scope of “Fees for […]
ITAT Chennai allows reassessment of ₹54.70 lakh cash deposits during demonetization, granting the assessee another opportunity subject to a ₹5,000 cost payment.
ITAT Kolkata dismisses Nikhil Commosales Pvt. Ltd.’s appeal, permitting revival if the assessee’s application under the Vivad Se Vishwas Scheme 2024 is unsuccessful.
Karnataka High Court dismisses Revenue’s appeal in PCIT Vs Ennoble Construction, ruling on transport creditors’ tax liability and evidentiary burden.
Supreme Court emphasizes reasonable cause for TDS non-deduction under Section 271C. Highlights interplay of Sections 4, 5, 9, and 192 in integrated tax code.
Delhi HC directs Nil TDS for SFDC Ireland citing no Permanent Establishment in India. Clarifies taxation under DTAA and Rule 28AA compliance.
Claim of the assessee for deduction for education cess was on a bonafide belief that it was allowable expenditure u/s. 37(1) and hence, the same was not a case for initiation of penalty proceedings u/s. 270A.
Delhi High Court held that Freight Logistic Support Service provided by appellant are not in the nature of Fee for Technical Services/ Fee for Included Services u/s. 9(1)(vii) of the Income Tax Act and accordingly appeal fails.
