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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 assessment relied on investigation reports without examining the alleged entry provider. The Tribunal held that cross-verification is essential before sustaining additions under section 68.
The assessee claimed that cash deposits belonged to company debtors and past savings, which were not examined earlier. The Tribunal restored the matter to the AO for re-verification in the interest of justice.
Proposed adjustments against stayed demands were held impermissible. The Court ruled that such actions cannot defeat the assessee’s right to timely refund with interest.
The addition was sustained on the ground that earlier cash deposits were not explained. The Tribunal held that the explanation of medical exigency and redeposit was reasonable and directed deletion.
The lower authorities confirmed an addition without considering permissible valuation variation. The Tribunal held that ignoring the 10% tolerance under section 50C renders the addition invalid.
The case concerned denial of deduction citing dealings with associate members. The Tribunal followed Supreme Court precedent and directed the AO to verify member status and society bye-laws before deciding eligibility.
The issue was whether a religious object in the trust deed bars 80G approval. The Tribunal held that where actual activities are purely charitable and no religious expenditure is incurred, approval cannot be denied.
The issue concerned treating business creditors as unexplained cash credits due to non-response to notices. The Tribunal held that corroborative balance sheets and ledger evidence warranted fresh verification, and remanded the matter to the AO.
The Tribunal held that cancellation of the earlier sale deed restored legal ownership to the assessee’s family. Consequently, compensation received on compulsory acquisition qualified for exemption under section 10(37).
The High Court ruled that tax authorities cannot ignore a binding ITAT Special Bench decision under Section 264 merely because the department has appealed it. Judicial discipline requires adherence unless the ruling is stayed or overturned.
