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Income Tax : Increasing use of RERA data by tax authorities makes alignment between project disclosures and income tax reporting essential to a...
Income Tax : Taxpayers are facing confusion following the introduction of the Income-tax Act, 2025. The key clarification is that income earned...
Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...
Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
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 dispute concerned whether dividend received on capital reduction by a foreign subsidiary could trigger restrictions under Sect...
Income Tax : The ITAT Pune held that a genuine claim for exemption under Section 10(20) cannot be rejected merely because the assessee mistaken...
Income Tax : The ITAT Mumbai held that when the reason recorded for reopening an assessment does not ultimately result in any addition, the Ass...
Income Tax : The Mumbai ITAT held that an addition under Section 68 cannot be made solely on the basis of a retracted statement alleging accomm...
Income Tax : The Mumbai ITAT held that Section 263 cannot be invoked merely because the Assessing Officer accepted income without making an add...
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...
ITAT Lucknow rules that penalty under Section 271(1)(c) cannot be imposed for disallowance of Section 80P deduction due to legitimate, disclosed claims.
Hyderabad ITAT rules that taxpayers cannot make fresh deduction claims under Section 80IA in response to a notice issued under Section 153A after a search.
ITAT Mumbai upholds long-term capital gains legitimacy in Bhavna Lalit Jain’s appeal, reversing earlier AO additions and clarifying tax treatment.
Chapter X of the Income Tax Act applies solely to transactions with Associated Enterprises (AEs), excluding non-AE transactions from transfer pricing provisions.
Supreme Court rules that royalty on advertisement hoardings by Patna Municipal Corporation cannot be equated with a tax. Case clarifies royalty vs. tax distinction.
Delhi High Court remands Alcatel Lucent’s transfer pricing case to ITAT, questioning selection of comparables in ALP determination. Detailed review of objections awaited.
ITAT Lucknow ruled that additions under Section 56(2)(vii)(b) are unsustainable without a valuation officer’s reference, directing deletion of ₹2.14 crore addition.
ITAT Mumbai quashed reassessment under Section 148 due to improper approval process, emphasizing the need for compliance with Section 151 requirements.
ITAT Mumbai found DRP’s rejection of objections unjustified, remitting the Dresser-Rand case back to the AO for proper adjudication on Transfer Pricing issues.
ITAT Delhi held that assessments for defective returns must be made under Section 144, invalidating prior orders issued under Section 143(3).
