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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...
A Section 57(iii) interest claim was rejected solely due to the loan’s classification as a home loan. The tribunal held that if allowed earlier, the same view must prevail unless facts change.
The AO had treated all bank cash deposits as unexplained under section 69A. The Tribunal held that regular cash sales explained most deposits and restricted the addition to ₹10 lakh only.
The Tribunal held that a protective addition cannot be termed erroneous when the same income has already been assessed substantively in another case. The twin conditions of error and prejudice under section 263 were not satisfied.
The Tribunal ruled that when all statutory documents are on record and unchallenged, section 68 cannot be invoked. Suspicion cannot substitute proof in share capital cases.
The issue was whether reassessment could be initiated for an amount implicitly accepted in original assessment. The Tribunal ruled that reopening amounted to change of opinion and was legally unsustainable.
ITAT Delhi held that cash deposits during demonetisation were fully explained by cash sales recorded in regular books. When books are not rejected and sales are accepted, separate addition is unsustainable.
The Tribunal ruled that section 234E fee cannot be imposed for periods before 01.06.2015. In absence of jurisdictional High Court ruling, the interpretation favourable to the assessee was adopted.
The dispute included disallowance under section 14A exceeding exempt income. The Tribunal upheld restriction of disallowance to the amount of exempt income and rejected a higher computation. The decision reinforces judicial limits on Rule 8D application.
The ruling clarifies that the benefit of extended timelines under TOLA was unavailable for A.Y. 2015–16. As a result, reassessment initiated after the cut-off date was held unsustainable.
ITAT held that employee stock option expenses are deductible as business expenditure. ESOP costs linked to employee compensation and revenue generation cannot be disallowed.
