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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 Tribunal ruled that a clerical mistake in the DRP's order could not justify sustaining a ₹10 lakh addition. It held that the...
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 : 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...
M/s Deepak Spinners Ltd Vs DCIT (ITAT Kolkata) We note that the issue under consideration whether the subsidy received under TUF scheme is a capital receipt or revenue receipt. The ld. CIT(A) treated it as part of fixed assets and held that said subsidy should be reduced from the cost of fixed assets. Held by […]
Assessee was eligible for exemption under section 10(37) on interest received by him on enhanced compensation as the same partook the character of compensation paid by government on compulsory acquisition of assessee’s agricultural land.
Smt. Lakshmi Swarupa Vs ITO (ITAT Banglore) In the present case, the clause in the JDA regarding possession clearly states that what is given is not possession contemplated u/s. 53A of the Transfer of Property Act and that it is merely a license to enter the property for the purpose of carrying out development. Further, […]
Mathur Lal Vs ITO (ITAT Jaipur) Conclusion: Deduction under section 54B was allowable only if purchase of new land was made after the transfer of an existing land. Held: Assessee claimed deduction U/s 54B which included purchase of agricultural land on 16/5/2012. AO denied the claim in respect of the agricultural land purchased on 16/5/2012. […]
Shri Anil Khandelwal Vs ITO (ITAT Indor) Once the condition of further proviso of Section 194C(3) of the Act are satisfied, the liability of the payee to deduct tax at source would cease. Examining the facts of the instant appeal we find that the assessee received Form 15I from the truck owner namely Shri Kishorilal Birla […]
Gauhati High Court has instructed CBDT to Consider Representation filed by Tax Bar Association on or before 25.10.2018 by which they requested to extend the Tax Audit Due Date to 31.12.2018.
I.T.O. Vs Bajaj Roadways (ITAT Kolkata) Assessee had merely hired the lorries and there was no contract between assessee and the concerned payees, i.e., truck owners. Since the assessee did not delegate its liability of transportation of goods to the truck owners by way of any contract or sub-contract, therefore, the payments made by the […]
All Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) 11.10.2018– It is an agreed position that subsequent to filing of these petitions, CBDT has granted extension for filing returns and accompanying documents. In that view of the matter, learned counsel for the petitioners does not press these petitions. Disposed of as […]
ACIT Vs SDV International Logistics Ltd. (ITAT Kolkata) it is observed that the assessee company was held to be liable to deduct tax at source by the A.O. from the payment of internet connectivity charges and specialised line rental u/s 194J of the Act being in the nature of royalty by relying on Explanations 4, […]
The Finance Act, 2012 expanded the scope of the term International Transaction thereby giving the clarity as to what the legislature meant or rather deemed fit to be International Transaction and consequential amendments were also made to other connected sections of Transfer Pricing in the Income-tax Act, 1961.
