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Income Tax : The article explains how accurate Form 10BD reporting protects donor deduction claims, prevents penalties, and ensures consistency...
Income Tax : The article explains what remains unchanged under the new tax law while highlighting critical compliance checks taxpayers should u...
Income Tax : AO rejects books of accounts and applies flat net profit rate. Can taxpayer claim depreciation separately or is it embedded in tha...
Income Tax : The article highlights common return filing errors, including wrong ITR forms and income mismatches, that can result in defective ...
Income Tax : The ITAT Bangalore held that no disallowance under section 14A read with Rule 8D can be made where the assessee did not earn exemp...
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 quashed the reassessment after finding that the assessee had already filed the return under Section 139 before issuan...
Income Tax : The Tribunal ruled that the Revenue cannot assess the full transaction value in the hands of a confirming party absent proof of be...
Income Tax : ITAT deleted the addition after finding that neither possession nor ownership had passed during the relevant assessment year. The ...
Income Tax : The Court emphasized that reassessment proceedings must comply with principles of natural justice by providing an effective opport...
Income Tax : ITAT held that proving the mode of payment is not enough to secure deduction for political contributions where evidence points to ...
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...
The Tribunal deleted the addition sustained by the CIT(A) as it was based solely on digital data found from a third party. It reiterated that suspicion or extrapolation without direct evidence cannot sustain tax additions.
The Tribunal held that mere transfer of funds to a state undertaking does not shift statutory TDS liability. Without proof of lawful discharge of TDS, penalty was sustained
The Tribunal held that denial of India–USA DTAA rates during processing under Section 143(1) was unjustified. It observed that Form 10F facilitates verification and does not create the right, making delayed compliance curable.
The law taxes the annual value of property based on ownership, not just actual rent received. Even vacant or self-occupied properties can attract tax under Section 22, reflecting their earning potential.
ITAT clarified that a statement recorded during search does not automatically become incriminating material. Without supporting documentary evidence, additions under Section 69A cannot survive.
The Tribunal emphasized that documentary evidence including bank statements and lender confirmations sufficiently explained the disputed credits. It held that no addition for unexplained money was warranted.
While condoning procedural delay, the Tribunal emphasized fairness and allowed substantial relief in a capital gains computation dispute. It directed recalculation of indexed cost after permitting 80% of claimed improvement expenses.
The Tribunal held that when sales are undisputed and books of account remain intact, purchase additions require stronger evidence. In the absence of contrary material, the ₹35.48 lakh disallowance was deleted.
Although stamp law generally places registration costs on buyers, the Tribunal held that parties may contract otherwise. Since the sale deed clearly assigned the burden to the seller, the ₹5.47 lakh disallowance was deleted.
The Tribunal reversed additions made towards alleged suppressed rent and bogus salary expenses. It emphasized factual consistency, business necessity, and absence of tax avoidance in granting relief to the assessee.
