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Income Tax : The ITAT Mumbai held that alleged accommodation entry operators cannot be taxed on the entire turnover amount. The Tribunal ruled ...
Income Tax : AI-driven scrutiny and AIS integration are increasing Income Tax notices where property transactions occur below stamp duty value....
Income Tax : This case highlights that cash paid to builders as “on-money” will not automatically be treated as tax evasion if it originate...
Income Tax : The article explains the complete evolution of buyback taxation in India, highlighting how tax liability shifted between companies...
Income Tax : Section 265 of the Income Tax Act, 2025 specifies who can legally verify an income tax return for different assessees. Incorrect v...
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 updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
Income Tax : The data shows a steady increase in net direct tax collections driven by higher corporate and non-corporate tax revenues. It highl...
Income Tax : The issue highlights delays caused by non-binding timelines in appellate proceedings. It proposes mandatory limits to ensure faste...
Income Tax : The Hyderabad ITAT ruled that the CIT(A) could not delete unexplained cash deposit additions merely on the basis of submissions an...
Income Tax : The ITAT Ahmedabad held that co-operative banks qualify as co-operative societies for purposes of Section 80P(2)(d). The Tribunal ...
Income Tax : The Delhi High Court set aside an assessment order after finding that the Assessing Officer failed to consider the assessee’s re...
Income Tax : The ITAT held that credits received in the assessee’s bank account were repayments of earlier advances and not unexplained cash ...
Income Tax : Tribunal ruled that income tax demands not included in the approved resolution plan were irrevocably extinguished. The decision fo...
Income Tax : The Income Tax Department increased monetary thresholds for assigning cases between ITOs and D/ACITs in Delhi Region. The revised ...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
Income Tax : The consolidation into Form 121 introduces stricter documentation and reporting obligations. The decision emphasizes accountabilit...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
The ITAT Raipur held that additions for cessation of liability cannot be made merely because creditor confirmations were not filed when PAN details, ledger accounts, and other records were already submitted.
The Tribunal ruled that margins agreed under a Bilateral Advance Pricing Agreement may be used for non-covered AEs when transactions are functionally similar. The decision emphasized consistency and the lack of separate benchmarking by the TPO.
The Tribunal quashed the assessment after finding that the statutory conditions under Section 153C were not properly satisfied. It held that defective recording of satisfaction vitiated the entire proceedings against the third party assessee.
Mumbai ITAT observed that assessable value under customs law may differ from invoice value and such variation by itself cannot justify addition under Section 69C without further evidence.
Court held that there was no direct or indirect connection between the assessee and the handwritten inquiry register relied upon by the department. Statements recorded during search proceedings also did not mention the assessee.
The article explains why advertisement expenses for brand building remain deductible under Section 37. Courts have consistently ruled that brand promotion does not create an enduring capital asset or goodwill.
The article explains how procedural lapses in trust registration renewal can activate Section 115TD and impose heavy tax on accreted income. Even inadvertent non-compliance may create severe financial consequences.
The article explains how Section 45(5A) shifted the capital gains trigger for landowners from JDA execution to issuance of the completion certificate. It also examines the impact of RERA-regulated project timelines.
The article explains the taxation framework for cryptocurrencies, NFTs, and other VDAs under Sections 115BBH and 194S. It highlights the harsh restrictions on deductions and loss set-off.
The Telangana High Court refused to interfere with a faceless income tax assessment order despite claims of medical hardship and lack of opportunity. The Court held that repeated adjournments and failure to seek video conferencing weakened the taxpayer’s natural justice argument.
