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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...
ITAT Pune held that subsidy received from Maharashtra Government under the Package Scheme of Incentives, 2007 is to be treated as income liable to be taxed for the year under consideration. Accordingly, order of CIT(A) upheld and appeal dismissed.ITAT Pune held that subsidy received from Maharashtra Government under the Package Scheme of Incentives, 2007 is to be treated as income liable to be taxed for the year under consideration. Accordingly, order of CIT(A) upheld and appeal dismissed.
The issue was whether cash deposited during demonetisation was fully explainable from business receipts. ITAT held that explanations were partly unreliable and sustained 50% of the addition under Section 68.
ITAT Chennai held that recharacterization of business from ‘software development service provider’ to ‘contract R&D service provider’ not justifiable as BAPA and TPO’s earlier assessment accepted characterisation of the Assessee to be a Software Development service provider. Hence, upward transfer pricing adjustment deleted.
The Tribunal clarified that the law does not permit selective or partial rejection of books under Section 145(3). In absence of specific defects, additions based on probabilities alone were set aside.
The Tribunal held that assessments based on survey and requisition material are invalid when such material is not furnished to the assessee. All quantum additions were remanded for fresh adjudication after complying with principles of natural justice.
The issue was whether a deductor can be treated as in default for non-deposit of TDS when the payee has already paid tax on the income. ITAT held that no demand under Section 201(1) survives once the payee’s tax payment is established.
The Tribunal examined whether unsecured loans could be treated as unexplained merely on investigation wing inputs. It held that once identity, creditworthiness, and genuineness are proved with documents, additions under Section 68 cannot survive.
The Tribunal ruled that unexplained investment additions based solely on a DVO report are invalid when books are not rejected and the report is not confronted to the assessee. The matter was remanded for fresh verification following natural justice.
The issue was whether income of a predecessor company for years before amalgamation can be reassessed in the hands of the successor. ITAT held that such clubbing is impermissible and the reassessment itself is void.
The Tribunal held that a bona fide mistake in claiming deduction under an incorrect section should not bar relief. The matter was remanded to verify eligibility under section 35(1)(ii).
