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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 Court held that, for assessment year 2009-10, filing the audit report along with the return was directory and not mandatory. D...
Income Tax : The Chennai ITAT held that the Pr. CIT could not invoke Section 263 on matters already under consideration before the appellate au...
Income Tax : The Chennai ITAT held that excess stock found during a survey could not be taxed as unexplained investment when it had been accoun...
Income Tax : The Tribunal upheld the disallowance of a ₹10 lakh deduction after the recipient political party informed the tax authorities th...
Income Tax : The Tribunal upheld the denial of deduction under Section 80GGC after finding that the political donation formed part of an allege...
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...
Explore ITAT Indore’s order in ACIT Vs MP Warehousing case, challenging deduction under section 35AD for specified and non-specified business income.
In the Nano Infra Promoters Pvt Ltd vs ITO case at ITAT Kolkata, learn why receipts couldn’t be added to income under section 68 just for summons non-compliance.
Indore ITAT dismisses Abhishek Singh’s appeal against PCIT for filing belatedly, citing insufficient cause for the 6-year delay.
ITAT Delhi in Preeti Bhardwaj Vs ITO held that AO cannot treat cash deposits as unexplained when assessee has provided the source of cash deposits being cash withdrawals without bringing adverse material.
The case pertained to the disallowance of interest amounting to Rs. 1,16,82,953/- paid on an unsecured loan. This ruling sheds light on the meticulous examination of evidence and the importance of substantiating claims in tax matters.
Sanjay Kumar Sharma Vs PCIT (ITAT Delhi): ITAT’s ruling on interest under Land Acquisition Act as capital receipt and exempt under Section 10(37) analyzed.
Rugby Regency P. Ltd appeals against denial of depreciation on windmills and addition of income under Section 56(2)(viib) of Income Tax Act. Detailed analysis of the case from ITAT Delhi.
Stay updated with the latest notification from the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes regarding income tax return verification. Read more for details.
ITAT Mumbai held that non-examination of the details clearly makes the order of AO erroneous and prejudicial to the interest of revenue. Accordingly, PCIT correctly assumed the revisional jurisdiction under section 263 of the Income Tax Act.
Assessee-company had entered into a Purchasing Agreement with M/s. Hindustan Unilever Ltd. whose main business was manufacture and sale of detergents, etc.
