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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 the Delhi High Court’s judgment in PCIT Vs Unitech Reliable Projects regarding Section 271(1)(c) penalties. The court emphasizes the necessity of specifying the relevant limb in penalty proceedings.
Delve into Delhi High Court’s judgment on PCIT Vs Minu Bakshi, exploring penalty imposition, notice specifics, and impact on income tax cases.
Madhya Pradesh High Court declares Section 147 notice issued in the name of deceased person for the assessment year 2018-19 as invalid, quashing all related proceedings.
Dive into the complexity of Compulsorily Convertible Debentures (CCDs), exploring their dual identity as debt and equity, tax implications, and regulatory challenges.
PCIT vs. Minu Bakshi: Delhi High Court Clarifies No Penalty if notice for the imposition of penalty did not specify particular limb of Section 271(1)(c) under which penalty was levied.
CIT (Exemptions) Vs Jamnalal Bajaj Foundation, Delhi High Court emphasized that penalty notice must specify precise limb of Section 271(1)(c) under which penalty is imposed.
ITAT has deleted the entire addition and disallowance based for imposition of penalty, the penalty imposed so cannot continue and therefore, deserves to be deleted in full with reference to aforesaid the addition & disallowance.
Madras High Court held that order passed without granting video conference hearing as sought by the petitioner is unsustainable as it is clearly violation of principles of natural justice.
ITAT Chennai held that disallowance of interest u/s 36(1)(iii) of the Income Tax Act on loans and advances given to subsidiary company unjustified as investment in subsidiary is purely for commercial expediency.
ITAT Jaipur held that non-deposit of employees contribution to ESI and PF within due date as per the respective Act is disallowance by invoking provisions of section 36(1)(va) r.w.s. 2(24)(x) of the Income Tax Act.
