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Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...
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 : 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...
Deductions under Sections 54B and 54F were denied without examining crucial evidence. The tribunal remanded the matter for fresh adjudication after considering all documents and legal issues.
Income earned from sanitation, gardening, and waste management contracts was treated as charitable. The tribunal held such receipts furthered environmental objects under Section 2(15).
Cash deposits during demonetisation were treated as unexplained as no genuine business need for holding large idle cash was shown. The tribunal upheld the Section 68 addition, stressing proof of necessity and cash retention.
While following binding High Court precedent on limitation, the Tribunal quashed the assessment order. Liberty was granted to revive the matter depending on the Supreme Court’s final decision.
The Supreme Court ruled that directions to modify tax software had no nexus with the individual dispute. Relief granted to the assessee under Section 205 was left undisturbed.
The issue was whether reassessment proceedings could continue when sanction was granted by an incorrect authority. The Court ruled that lack of approval from the designated authority vitiated the entire reassessment.
Relying on jurisdictional High Court precedent, the Tribunal ruled that penalty is unsustainable when additions are based on estimation. The decision reinforces limits on penalty in such cases.
The ruling addressed conflicts between documentary proof of loans and third-party allegations of accommodation entries. The Tribunal held that unsupported allegations cannot override evidence establishing genuine loan transactions.
The Court held that adjusting refunds beyond 20% of a disputed penalty during a pending appeal violates CBDT instructions and ordered refund of the excess amount.
The case addressed addition of a large gift treated as unexplained cash credit. The Tribunal remanded the matter after admitting additional evidence showing the donor’s identity, relationship, and financial capacity.
