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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...
The respondents, on the other hand, would urge us to hold that a failure to place the amalgamated entity on notice was curable and one which would fall within the ambit of Section 292B of the Income Tax Act, 1961.
The Supreme Court clarified rules for Trusts/NGOs under Section 2(15) of the Income Tax Act, limiting business activities tied to charitable purposes. Learn more.
Explore the India-Mauritius DTAA’s impact, treaty shopping challenges, and recent amendments aimed at preventing tax abuse and fostering genuine investments.
Learn about disallowed expenses under PGBP in India’s Income Tax Act. Understand key sections like 37, 40, and 40A, and their impact on business deductions.
Assessee explained that borrowed funds were used for investments in partnership firms, generating interest income exceeding expenses. AO accepted the claim and approved the returned income as assessed income.
CBDT extends deadline for trusts and institutions to submit audit reports in Form 10B/10BB until November 10, 2024.
ITAT Mumbai held that hardship compensation is not a revenue receipt but constitute a capital receipt. Accordingly, AO directed to delete addition made towards the same.
ITAT Ahmedabad held that if an assessee has failed/omitted to make a claim at the time of filing of return of income the same can be claimed during the course of appellate proceedings. Accordingly, claim placed before appellate authorities allowed.
ITAT Bangalore condones a 69-day delay in filing an appeal, citing COVID-19 as a reasonable cause. Case reassessed by CIT(A) for the 2010-11 assessment year
ITAT ruled that co-operative societies under the Karnataka Souharda Sahakari Act qualify for Section 80P deductions, allowing for the appeal to be reconsidered.
