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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...
Jayaseelan Vs ITO (ITAT Chennai) Shri Jayaseelan (the Appellant) has filed the current appeal being aggrieved against the order dated March 5, 2018 passed by the ld. Commissioner of Income Tax (Appeals) (the CIT(A)) for the assessment year 2014-15 wherein the claim of the Appellant claiming benefit under section 54 of the Income Tax Act,1961 […]
Ramaiah Harish Vs ITO (ITAT Bangalore) It was held that an independent building can have a number of residential units and it will not lose the character of one residential house.
ITO Vs P.H. Chandrashekar (ITAT Bangalore) Non-disposal of objections filed by the assessee before the completion of assessment is against the procedure prescribed by Hon’ble Supreme Court in the case of GKN Driveshafts (P) Ltd (supra). Hence the same will vitiate the impugned assessment order. FULL TEXT OF THE ORDER OF ITAT BANGALORE The revenue […]
(1) These rules may be called the Income-tax (30th Amendment) Rules, 2021. (2) They shall be deemed to have come into force from the 1st day of April, 2021.
Appellant, during AY 2012-2013, paid a huge amount towards provision of toilet facilities in Government Schools where the children of employees of the Appellant were studying. While filing the returns for that year, the Appellant claimed the same amount as Corporate Social Responsibility (CSR) expenses and submitted that by incurring the expenses, its productivity improves and the loyalty of its employees are also ensured.
In so far as the certificate issued by the Tehsildar is concerned which is at page No.1A of the paper book, it does not show that from the Chidambaram how it comes to 8.5 K.M and apart from that in our view the Tehsildar is not a competent person to decide the distance.
The e-invoicing was introduced on 1st October 2020, for tax payers with an aggregate turnover exceeding Rs. 500 crore. This was also extended on businesses from 1st January 2021 whose aggregate turnover is exceeding Rs. 100 crore. The CBIC also informed that e-invoicing will also applicable for businesses with total turnover ranging between Rs. 50 […]
Understand the definition of persons under the Income Tax Act, 1961. Learn about the different types of individuals, partnership firms, companies, and more.
Evolving Systems Networks India Pvt. Ltd. Vs DCIT (ITAT Bangalore) The only other ground pressed was with regard to the action of the TPO in treating provision for bad and doubtful debts as part of non operating expense while computing operating margin of comparables. Karnataka High Court has also taken a view in the case […]
ACIT Vs Groz Engineering Tools Pvt. Ltd. (ITAT Delhi) Non-residents have rendered the services outside India and have been paid in foreign currency. Therefore, no income accrues or arises in India. These nonresidents do not have any PE or business connection in India which is not doubted by the AO. Further, the Assessing Officer has […]
