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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...
It was ruled that funds paid in India to a student remain an application in India under Section 11. Utilisation of the grant outside India does not violate charitable exemption provisions.
It was ruled that deciding appeals based on facts of another year is a serious legal error. The matter was sent back for reconsideration on correct facts.
The case questioned whether a cooperative banks audited expenses could be disallowed on a percentage basis for alleged non-compliance. The Tribunal ruled against arbitrary disallowance without defects in accounts.
This case involved a ₹1 crore cash deposit treated as unexplained by tax authorities. The Tribunal ruled that since the deposit was sourced from earlier withdrawals, the addition was unsustainable.
It was held that documented capital contributions supported by affidavits, bank records, and land evidence are explained credits. Assessing authorities cannot disregard undisputed financial capacity.
The appellate order confirmed loan additions without addressing the Rule 46A plea. Holding this to be a serious procedural defect, the Tribunal set aside the order for de novo adjudication.
The tax department has begun emailing taxpayers about pending demands shown on the portal. This explains why such demands exist and why the communication matters now.
The dispute centered on profit estimation after reopening for suppressed turnover. The Tribunal affirmed lower NP for animal sales, recognising industry norms and assessee history. The ruling underscores tailoring estimates to trade economics.
While reopening of assessment was sustained due to bank deposit information, the cash addition was deleted on merits. Proper explanation of source defeats Section 69A.
The Tribunal reviewed an addition based on demonetisation-era cash deposits despite detailed hospital records being produced. It ruled that ignoring cash books and patient registers was unjustified.
