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Income Tax : This guide explains when Section 206AA requires TDS at a higher rate due to non-furnishing of PAN and the applicable exceptions. I...
Income Tax : Learn how TDS on rent is governed under Sections 194-I and 194-IB, including eligibility, deduction rates, thresholds, and complia...
Income Tax : This guide explains the applicability of TDS under Section 194Q and TCS under Section 206C(1H), including thresholds, rates, and c...
Income Tax : This guide explains who is required to maintain books of account under Section 44AA based on business, profession, turnover, and i...
Income Tax : Learn the difference between Sections 80TTA and 80TTB, including eligibility, deduction limits, and the types of interest income c...
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 upheld deletion of the Section 69A addition after finding that the bank credits were satisfactorily explained as insuranc...
Income Tax : Tribunal held that final assessment order was time-barred because it was passed after mandatory period prescribed under Section 14...
Income Tax : The ITAT held that a transfer pricing order issued without authentication or a digital signature is invalid in law. Consequently, ...
Income Tax : The ITAT held that an opening cash balance cannot be treated as unexplained merely because the previous year's income tax return r...
Income Tax : The ITAT held that the Assessing Officer disallowed interest expenditure without adequately verifying the records or confronting t...
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...
R N Khemka Enterprises (P) Ltd. Vs ITO (ITAT Delhi) Co-ordinate Benches of the Tribunal are taking the consistent view that when there is non-application of mind by the AO to the report of the Investigation Wing, such reassessment proceedings are not in accordance with law and such reopening proceedings have been quashed. Since, in […]
Life Insurance Corporation of India Vs. ITO (TDS) (Orissa High Court) The short question that arises is whether LIC had a statutory obligation to deduct tax at source while paying the conveyance/additional allowance to its development officers? In support of the contention that conveyance/additional allowance are not income and therefore not liable for deduction of […]
Understanding retrospective taxation in India: a comprehensive guide to the concept, its objective, and its impact on foreign corporations.
Arjun Transport Company Private Limited Vs ITO (ITAT Mumbai) When a case is selected for ‘limited scrutiny’ to verify the disallowance made u/s 14A of the Act and AO makes disallowance u/s 14A in the assessment order passed u/s 143 of the Act then the CIT(A) cannot travel beyond the issue selected under ‘limited scrutiny’ […]
The Income Tax Department carried out search and seizure operation on 25.08.2021 on a group based in Visakhapatnam at 17 different premises across Andhra Pradesh, Chhattisgarh, Nagpur and Kolkata. The group entities are engaged in extraction of vegetable oils, mining of manganese ore, and manufacturing of ferro alloys.
The Income Tax Department carried out a search and seizure operation on 24.08.2021 on a group based in Rajkot. The group is among Gujarat’s prominent real estate builders & developers and is actively engaged in real estate, construction and land trading businesses in and around Rajkot. More than 40 premises were covered in the operation.
HCL Comnet Ltd. Vs DCIT (ITAT Delhi) It is settled principle of law that generic dissatisfaction as to the correctness of the claim of the assessee without assigning any reason is not a valid satisfaction which is mandatory under section 14A(2) of the Act, as has been held by Hon’ble Supreme Court in case of […]
Charana Panda (HUF) Vs ITO (Orissa High Court) 1. The Petitioner contends that there is violation of Section 148-A of the Income Tax Act, 1961 (‘Act’) and also that the proceedings are time barred. The competency of the officer who issued notice under Section 148 of the Act is also questioned. 2. Issue notice. 3. […]
The Income-tax Act specifically exempts the rewards given by the Central Government and State Governments to the medal winners at Olympics Games, Asian Games, and Commonwealth Games u/s 10(17A) of the Act
This Court is of the view that the respondents are entitled to seek pre-deposit of only 20% of the disputed demand during the pendency of the appeals in accordance with paragraph 4(A) of the office memorandum dated 29th February, 2016, as amended by the office memorandum dated 25th August, 2017.
