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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...
The ITAT ruled that absence of recorded satisfaction in the assessment order bars initiation of penalty under Section 271E. Supervisory revision cannot substitute the Assessing Officer’s statutory discretion.
The Tribunal held that revision under Section 263 cannot be triggered merely on the Assessing Officers recommendation. Independent examination and satisfaction of the Commissioner is a mandatory legal requirement.
The Court examined whether payments for live sports telecast amount to royalty. It ruled that without recording or re-telecast rights, live feed payments lack enduring benefit and are not taxable as royalty.
The Tribunal ruled that reassessment cannot survive when the final addition departs from the original Section 148A notice. Consistency of information throughout the reopening process is mandatory.
The Tribunal ruled that denying Section 80P deduction is unjustified when the underlying interest income itself does not exist. Notional income cannot defeat statutory deductions.
The Tribunal ruled that exemption for charitable trusts cannot be denied merely due to belated filing of Form 10B. It reaffirmed that the requirement is directory, not mandatory, when the audit report is eventually furnished.
This ruling clarifies that repayment of loan with interest, coupled with documentary proof, negates allegations of unexplained cash credit. Mere suspicion without defects in evidence cannot sustain an addition.
Relying on Supreme Court precedent, the Tribunal held that the IBC has overriding effect over the Income-tax Act. The decision confirms that tax appeals cannot survive once insolvency proceedings are approved.
The Tribunal held that a reassessment notice issued to a company already struck off from the ROC is invalid. Since the entity had ceased to exist, the entire reassessment and assessment proceedings were quashed.
Applying judicial relief on Section 115BBE, the remaining tax demand fell below the prescribed threshold. The ruling reiterates that revenue appeals must be dismissed when tax effect is below CBDT limits.
