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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 Tribunal ruled that addition of the entire amount of bogus purchases as unexplained expenditure was unwarranted in the facts o...
Income Tax : Delhi ITAT ruled that delayed deposit of employees' PF/ESI contributions attracts disallowance under Section 36(1)(va). The decisi...
Income Tax : The ITAT held that an assessee can contest a Section 143(1) adjustment in an appeal against the assessment order if the adjustment...
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 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...
Delhi High Court held the reassessment proceedings under section 148 of the Income Tax Act as liable to be set aside as AO failed to demonstrate that explanation given by the assessee was deficient.
Compensation received for non-carrying of business was capital in nature as the operation of non- compete agreement was for 10 years and for the period in which the non-compete agreement was to operate, assessee’s source of income had been clamped.
Gujarat High Court held that reopening of assessment under section 147 of the Income Tax Act merely based on ‘borrowed satisfaction’ as against statutory requirement of ‘independent satisfaction’ is bad-in-law.
ITAT Ahmedabad held that addition of amount received as advances as deemed dividend in terms of section 2(22)(e) of the Income Tax Act unsustainable as assessee firm is neither registered shareholder nor beneficial shareholder. Concluded that deemed dividend is taxable only in the hands of the shareholder.
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ITAT Delhi held that passing of final assessment order without complying with the terms of section 144C of the Income Tax Act, 1961 is untenable in law.
Gujarat High Court held that Challenge to notice issued under section 154 of the Income Tax Act is maintainable under Article 226 of the Constitution of India.
ITAT Surat held that addition under section 68 of the Income Tax Act towards unexplained cash credit unjustified as creditworthiness of the loan giver established and transaction undertaken through banking channel.
ITAT Delhi held that income from sale of shares/securities/PMS/Mutual Funds, etc. which were held as investment and not as stock-in-trade is taxable under the head capital gains and not under the head business income.
ITAT Surat held that invocation of revisional jurisdiction under section 263 of the Income Tax Act unsustainable as order passed by AO was neither erroneous nor prejudicial to the interest of the revenue.
