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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 rejection of Section 12AB registration merely because no expenditure was reflected in the financial statem...
Income Tax : The Tribunal ruled that loss of an old Section 12A registration certificate is only a procedural deficiency and cannot by itself j...
Income Tax : The ITAT observed that registration undertaken solely to satisfy a banks mortgage requirement cannot automatically attract tax und...
Income Tax : The ITAT found that the Assessing Officer failed to establish any specific infirmity in the assessee's business expenditure before...
Income Tax : The Tribunal held that only the profit element embedded in the disputed purchases could be taxed and affirmed a 2% estimation base...
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...
CBDT issued Circular No. 17/2015-Income Tax dated 06.10.2015 regarding Measurement of the distance for the purpose of section 2(14)(iii)(b) of the Income-Tax Act for the period prior to the Assessment Year 2014-15.
Now, taxability of fees from domain name registration services has come under tax scanner. Recently, ITAT Delhi held that domain name registration fees received by Godaddy are taxable as royalty under Indian tax laws.
Cost Inflation Index (CII) for FY 2018-19/ AY 2019-20 Notified by CBDT at 280 (Base Year 2001-02) In the case of transfer of short term capital asset, the amount of capital gains can be arrived at by deducting the cost of acquisition/ improvement from the sale consideration. However, in the case of transfer of long […]
Challenging the order dated 03/06/2014 of the CIT(A)-17,Mumbai,the Assessee has filed present appeal.Assessee-company,engaged in the business of manufacturing of textiles,filed its return of income on 30/09/2011 declaring total income at NIL.The Assessing Officer (AO) completed assessment u/s.143(3) of the Act,on 03/01/2014,determining total income at Rs.71. 52 lakhs.
ACIT Vs M/s. Lumax Automotive Systems Ltd. (ITAT Delhi) The assessee-company explained that it has closed down its Aurangabad unit due to heavy losses suffered by the assessee-company. The assessee-company in this year has declared loss of Rs.4.34 crores in the return of income and after making addition as well, the net taxable loss have […]
Shri Ratan Babulal Lath Vs DCIT (ITAT Bangalore) Entire addition is on the basis of the statements of the assessee and Shri. Navneet Kumar Singhania recorded by the CBI. Before the AO, assessee has specifically denied such statements recorded by the CBI and has sought cross-examination of Shri. Navneet Kumar Singhania which were not afforded […]
Adhunik Infrastructure (P)Ltd. Vs JCIT (ITAT Kolkata) ITAT held that even if an assessee is merely developing the infrastructural facility (without operating and maintaining the same), it is entitled to deduction u/s 80-1A. Further, condition (b) laid out in sub-section (4) of section 80-IA mandates the existence of an agreement with the Government. Moreover, if […]
This Appealunder Section 260-A of the Income Tax Act, 1961 (the Act) challenges the order dated 11th March, 2015 passed by the Income Tax Appellate Tribunal (the Tribunal). The impugned order is in respect of Assessment Year 2009-10.
The brief facts of the case are that the assessee case was selected for scrutiny through CASS and notice u/s 143(2) of the Income Tax Act, 1961 (hereinafter referred as the Act) was issued and served upon the assessee requiring him to furnish necessary details and documents along with supporting evidence.
The disciplinary authorities in Group ‘B’ and Group ‘C’ cases may be advised to take immediate action in pending disciplinary proceedings. The field officers may be directed to make available records, documents and reports requested by Vigilance Directorate without any delay. It may be ensured that the departmental inquiries in non-CVC jurisdiction cases pending for more than six months are completed latest by 30.06.2018.
