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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 held that where transactions with the Indian associated enterprise are at arm's length, additional profit attribution to ...
Income Tax : The ITAT held that the incorrect payment date mentioned in the Tax Audit Report was an obvious typographical mistake and not evide...
Income Tax : The Tribunal ruled that application software purchased independently from computer hardware is still covered under the specific de...
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 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...
he submission of the assessee that she is just an investor and as she received some tips and she chose to invest based on these market tips and had taken a calculated risk and had gained in the process and that she is not party to the scam etc., has to be controverted by the revenue with evidence.
PCIT Vs Starflex Sealing India Pvt. Ltd (Bombay High Court) We are pained at this attitude on the part of the State to obtain orders of admission on pure questions of law by not pointing out that an identical question was considered by this Court earlier and dismissed by speaking order. This is not for the first time that […]
Hon’ble Supreme Court held that CBDT’s Office Memorandum (‘OM’) dated 29th February, 2016 & 31.07.2017 by which AO’s have been directed to grant stay of disputed demand on payment of 20%/ 15% does not fetter the power of the AO & CIT to grant stay on payment of amounts lesser than 15%/ 20%.
LG Electronics India Private Limited Vs PCIT (Delhi High Court) Mr. Deepak Chopra, learned counsel for the Petitioner, has produced before this Court a copy of OM dated 31st July, 2017 which modifies the earlier OM, dated 29th February, 2016, issued by the Central Board of Direct Taxes (‘CBDT’), stating that standard rate for grant of stay […]
Vide Instruction No. 4/2018 dated 20.08.2018 issued in file of even no., CBDT has laid down Guidelines for selection of scrutiny cases during the financial-year 2018-19.
Understand why rental advance write-off isn’t capital loss but a business expense. ITAT Hyderabad rules in favor of Apollo Munich Health Ins. Co. Ltd.
Section 80C of Income Tax Act, 1961 allows you deduction upto Rs. 1.50 lakhs in respect of certain items of investments and expenses. These deductions are subject to some restrictions with respect to the persons for whom you can claim these and the lock in period for which you need to hold the investments. Let […]
Himal Enterprise Pvt. Ltd. Vs Income Tax Officer (ITAT Kolkata) The undisputed facts of the case is that the assessee company is registered as a Private Limited Company under the Registration of Companies Act Sikkim 1961. The definition of ‘Company’ under the Income Tax Act, 1961 is given u/s 2(22A) of the Act. This definition does […]
Shri Nitesh Agarwal Vs ACIT (ITAT Jaipur) The assessee has explained the reasons for delay as attributable to the various problems on the business front, family front as well as the assessee was having some dispute with his C.A. In support of his explanation, the assessee has filed the record regarding the complaint against the […]
Referring to a circular issued by the CBDT in Circular No.16/2015 dated 06.10.2015, held that film production expenses of abandoned films should be treated as revenue expenditure. This decision was followed in the case of Asia Power Projects P Ltd. (supra).
