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Income Tax : The article explains how ESOP taxation in unlisted companies occurs at both exercise and buyback stages. It highlights perquisite ...
Income Tax : The FAQs explain the revised CBDT guidelines on compounding offences under the Income-tax Act effective from 17 October 2024. They...
Income Tax : Learn the eligibility, investment conditions, exemption limits, timelines, and withdrawal provisions for capital gains exemptions ...
Income Tax : This FAQ serves as a reference for the Income-tax Act provisions relating to cash receipts, loans, repayments, and electronic paym...
Income Tax : This FAQ covers all ten notified ICDS, explaining their scope, applicability, disclosures, and treatment of various tax-related tr...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
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 : The ITAT Mumbai held that sales tax and similar State Government incentives were capital receipts because the schemes were intende...
Income Tax : The ITAT Visakhapatnam held that the Commissioner cannot invoke Section 263 where the Assessing Officer has already conducted inqu...
Income Tax : The ITAT Visakhapatnam held that deduction under Section 80P cannot be allowed where the assessee failed to file a valid return of...
Income Tax : The Tribunal directed the Assessing Officer to grant Foreign Tax Credit, observing that delayed filing of Form No. 67 is only a pr...
Income Tax : The ITAT Jaipur held that reassessment under Section 147 was invalid because the Assessing Officer merely relied on Investigation ...
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...
C. R. Dadhich Memorial Society Vs CIT(E) (ITAT Delhi) Training means & constitutes a basic concept in human resource development. It is concerned with developing a particular skill to a desired standard by instruction and practice. Training is a highly useful tool that can bring a person into a position where they can do their […]
Saireddy Pruthviraj Reddy Vs ITO (ITAT Hyderabad) It is pleaded by the assessee before us that while receiving the flat No. 914, the mother of the assessee valued the same at Rs. 27,23,000/-and offered to tax the capital gains arising therefrom. On this premise the assessee insists that the cost of acquisition of plot No. […]
Shrikrishna Khandsari Sugar Mills Vs ITO (ITAT Pune) The only issue raised in this appeal is against the confirmation of disallowance of Rs.4,19,970/- made by the Assessing Officer (AO) in respect of agricultural expenses. Briefly stated, the facts of the case are that the assessee has been engaged in manufacturing and trading in Khandsari sugar […]
ITAT held that when addition was made on estimation basis that by itself does not lead to conclusion that assessee either concealed the particulars of income or furnished inaccurate particulars of such income.
High Court held that the provisions of Section 194J applied to the retainer doctors and not those of Section 192.
Swami Shibrupananda Jayrambati Ramkrishna Saradamath & Mission Vs ITO (ITAT Kolkata) Ld. AO had taken two views in respect of same transaction/bank deposits made by the assessee, one pre-demonetization period deposits, which he treated as income from profession of the assessee and 50% of such deposits treated as income from profession. On the other hand, […]
Rental income received from unsold portion of property constructed by a real estate developer, is assessable as ‘Income from house property’
Addl. CIT Vs Times Internet Ltd. (ITAT Delhi) During the year, the assessee claimed an amount of Rs.10.55 crores on account of consultancy fee, out of which an amount of Rs.98.37 lacs has been disallowed by the AO pertaining to the amount paid for legal and professional services. The AO held that since the expenses […]
Soul Clothing Pvt. Ltd. Vs DCIT (ITAT Surat) We note that the issue involved in the present appeal of assessee is covered against the assessee, as the assessee has not deposited Employees Provident Fund (EPF) with the prescribed authority within stipulated time, therefore as per the judgment of the Hon’ble Gujarat High Court in the […]
Are you giving Freebies to Dealers/Distributors/ Employees/ Business partners, then from 1 July 2022 you need to deduct TDS under Section 194R
