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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 Pune ITAT refused to condone a 661-day delay in filing an appeal against rejection of Section 12AB registration. It held that ...
Income Tax : The Pune ITAT deleted a ₹10 lakh addition after finding no reliable evidence that the assessee paid cash while purchasing a flat...
Income Tax : The Tribunal distinguished between lack of enquiry and inadequate enquiry, holding that Section 263 cannot be invoked merely becau...
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 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...
CIT Vs. M/s Malayala Manorama Co. Ltd. (Kerala High Court) Amounts under the disputed heads were being received by the Assessee from its Subsidiary Company only as part of regular business transactions, which was being accounted properly. The change in circumstance, as to the distribution of dailies/publications in the Gulf, causing the same to be […]
Assessee is obliged to deduct tax on the payment made by it to the Carrier under the contracts for transporting the petroleum products in the business in which the respondent assessee is engaged. On the one hand, it is the case of the appellant Department that the case of the respondent assessee falls under Section 194-I of the Income Tax Act, 1961 . On the other hand, the case of the respondent assessee is that its case falls under Section 1 94C of the Act.
ITO Vs Late Shri B. Kailasam (ITAT Chennai) Since availing a loan itself is consideration and therefore, constructive benefit was very well accrued to the assessee when the loan was availed by the concerned company, which was owned partly by the assessee. Since, the mortgaged property was sold in discharge of the mortgage created by […]
31.03.2018 is approaching so before finalizing your books you should keep in mind below points which are important for your decision making for AY 18-19.Copy the below link and paste on the new tab to understand step by step what are the important things which you shouldn’t miss.
CIT may consider an order of the AO to be erroneous not only it contains some apparent error of reasoning or of law or of fact on the face of it but also because it is a stereo typed order which simply accepts what the assessee has stated in his return and fails to make enquirers which are called for in the circumstances of the case.
Estate of Late Vrajlal Mehta Vs ACIT (ITAT Mumbai) We noticed that explanation of the assessee that two bank accounts belonged to Shri Rajesh Mehta have been accepted by the search officials as well as Assessing Officer. We notice that the balance available in those bank accounts have been assessed by the learned CIT(A) only, […]
Dharam Deep Public School Vs. Dy. CIT (ITAT Delhi) Section 200A of the Act deals with processing of statement of tax deducted at source, whereas, section 234E of the Act deals with fee for default in furnishing statements.Iit was held that ‘intimation raising demand prior to 01/06/2015, u/s 200A of the Act, levying fee u/s […]
Central Board of Direct Taxes (CBDT), the apex body for Income Tax Assessments has set up a high powered committee of nine members to prepare a roadmap by February 28, 2018 to do e-based income tax assessment.
Hon’ble Supreme Court dismisses a departmental appeal in CIT v. Vasisth Chay Vyapar Ltd and held that the interest income earned by Non-Banking Financial Companies (NBFCs) on non-performing assets (NPAs) should not be taxed on the accrual basis.
Dy. CIT Vs Maan Aluminum Ltd. (ITAT Delhi) The undisputed fact is that the assessee had paid commission to two non-residents on export orders procured by them. It is also undisputed that the non resident agents did not have any permanent establishment or permanent place in India and the agents operated from outside India. It is […]
