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Income Tax : The article clarifies that the CBDT's 4 June 2026 instruction governs six categories of compulsory manual scrutiny and is distinct...
Income Tax : The article explains how India's Place of Effective Management (POEM) rules may treat a foreign company as an Indian tax resident ...
Income Tax : From 1 April 2026, TDS and TCS compliance shifts to new form numbers and section references under the Income-tax Act, 2025. Busine...
Income Tax : Understand who must undergo a tax audit under Section 44AB, the applicable turnover limits, audit forms, filing procedure, due dat...
Income Tax : Income may become tax-free under the new tax regime because of the standard deduction and Section 87A rebate, but ITR filing may s...
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 Mumbai held that reassessment proceedings initiated on the basis of information arising from a search in the case of a th...
Income Tax : The Tribunal ruled that although CSR expenditure is not allowable under Section 37, eligible donations made to recognised institut...
Income Tax : The Tribunal held that penalty under Section 271D could not be levied because the Assessing Officer failed to record satisfaction ...
Income Tax : The Tribunal held that penalties under Sections 271D and 271E could not be sustained because the Assessing Officer failed to recor...
Income Tax : Smt. Pavithra Sugichandran Vs Office of the DCIT (Madras High Court) The Madras High Court considered six writ petitions challengi...
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...
In order to align the domestic laws with the modifications being done by Organisation for Economic Co-operation and Development (OECD) through Base Erosion and Profit Shifting (BEPS) and the Multilateral Instruments (MLI) some very significant amendments have been done in international taxation. Business connection as defined in section 9 has been further aligned with the […]
Article compiles Section wise TDS Rates / TDS Rate Chart for Financial Year 2019-20 or Assessment Year 2020-21 with Nature of Payment, Threshold Limit and Percentage TDS rate applicable to Individual, HUF and to other category of Assessees. Article takes into account recent changes by Interim Budget 2019 in TDS Threshold Limits. […]
Lakme Lever Private Limited Vs CIT (ITAT Mumbai) As regards the depreciation on non compute fee is concerned, we find that the claim was duly made by the assessee in the computation of income. Hence, it cannot be said that the A.O. has not applied his mind on this issue. In this regard, we place […]
Ms. Ashte Logistics Pvt. Ltd Vs Pr. CIT (ITAT Mumbai) ITAT held that Upon careful consideration, we find that the delay in filing the appeal is solely attributable to the wrong advice of the consultant. In our considered opinion, the assessee should not suffer on account of the wrong advice of the consultant, hence, in […]
CIT Vs Kalpana Hansraj (Bombay High Court) Perusal of sub-section (1) of Section 54 of the Act would show that the exemption would be available to an assesse being an individual or Hindu Undivided Family where the capital gain arises from the transfer of a long-term capital asset, not being a residential house provided the remaining conditions […]
Sanjeev Sarin Vs ITO (ITAT Delhi) In this case assessee has within stipulated period, made substantial investment towards purchase of new property and just because builder could not complete construction of residential house, claim of exemption under section 54F of Income Tax Act, 1961 cannot be denied. FULL TEXT OF THE ITAT JUDGMENT This appeal […]
Saurabh Suryakant Mehta Vs ITO (Bombay High Court) In the present case, the Assessing Officer had examined the material collected by the Sales Tax Department, prima facie suggesting that the assessee had indulged into bogus billing activities without actually carrying out the purchase and sale of the commodity. It is on this basis that the […]
ITO Vs M/s. United White Metal Ltd. (ITAT Mumbai) We noticed that the rental income of the assessee was to the tune of Rs.2,16,00,000/- which has been shown as income from business. However, the AO declined the claim of the assessee on the basis of this fact that the no activity of business was going […]
Pr. CIT Vs Tops Security Ltd. (Bombay High Court) Section 43B does not contemplate liability to pay service tax before actual receipt of the funds in the account of the assessee. Hence the liability to pay service tax into the Treasury will arise only upon the assessee receiving the funds and not otherwise. Thus the […]
Jaikishan Shyamsunder Vaswani Vs ACIT (ITAT Mumbai) It is noted that property situated at Flat No.72, L Block, Maker Tower, Cuffe Parade, Mumbai was actually let out to Bank of America during AY 2007-08 @ Rs.2 Lacs per month. However, this rent has drastically been reduced to Rs.25,000/- per month upon receipt of interest-free security […]
