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Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...
Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...
Income Tax : Form 16 and Form 16A serve distinct purposes under the TDS framework, with Form 16 relating to salary income and Form 16A covering...
Income Tax : Permanent Account Number (PAN) serves as a unique identifier enabling the Income-tax Department to track tax payments, returns, TD...
Income Tax : This analysis explains how Parliament designed Sections 11 to 13 to ensure that tax-free income is ultimately used for charitable ...
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 Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
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...
This explains how Budget 2026 retrospectively clarifies that only the Jurisdictional Assessing Officer can issue reassessment notices. The key takeaway is that notice-stage litigation is largely settled.
The tribunal held that interest earned from deposits with co-operative banks qualifies for deduction under Section 80P(2)(d). Such banks are treated as co-operative societies, making the interest fully deductible.
The tribunal held that amounts already disclosed and taxed as accommodated receipts cannot be taxed again under another head. Separate additions were deleted as they resulted in impermissible double taxation.
The tribunal held that interest earned on savings bank deposits is attributable to the business of providing credit to members. Such incidental bank interest qualifies for full deduction under Section 80P(2)(a)(i).
The issue was whether reassessment completed after a court stay complied with statutory timelines. The Tribunal held that limitation resumes from the date the stay is vacated, rendering the reassessment time-barred.
The case examined whether commission paid to overseas agents attracts TDS and disallowance. The Tribunal held that services rendered abroad are not chargeable to tax in India, nullifying Section 40(a)(i).
The budget focuses on fiscal discipline, predictable taxation, and long-term growth rather than headline tax cuts. It signals a shift toward structural maturity and economic resilience.
The issue was whether reopening based only on portal information is valid. The Tribunal held that absence of independent inquiry and tangible material vitiates reassessment and nullifies the addition.
ITAT Surat held reassessment invalid where notice u/s 148, though dated 31-03-2021, was issued on 01-04-2021 without following s.148A procedure; entire reassessment quashed.
The dispute examined whether loan interest used to buy virtual digital assets could be deducted. The ruling held that such interest forms part of cost of acquisition and is allowable despite Section 115BBH restrictions.
