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Income Tax : The article explains how the Finance Acts, 2025 and 2026 have reshaped the Updated Return regime under Section 139(8A). It highlig...
Income Tax : The Supreme Court has remitted reassessment cases for fresh consideration after the retrospective insertion of Section 147A, leavi...
Income Tax : Learn the most frequent errors taxpayers make while filing Income Tax Returns for AY 2026-27 and how avoiding them can prevent not...
Income Tax : The article explains how the interaction of Section 87A, marginal relief, and Health & Education Cess can leave taxpayers earning ...
Income Tax : Learn who can apply for an advance ruling, applicable fees, withdrawal rules, and its binding effect under the Income-tax Act. The...
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 High Court held that failure to pass the order giving effect within the time prescribed under Section 153 resulted in abatemen...
Income Tax : The Madras High Court held that unexplained trade credits falling under Section 68 cannot qualify for deduction under Section 80-I...
Income Tax : The Tribunal restricted the Section 14A disallowance to exempt income and deleted additions relating to bad debts, tea and coffee ...
Income Tax : The ITAT held that the CPC could not make adjustments under Section 143(1) without first issuing the mandatory intimation to the a...
Income Tax : The ITAT Mumbai held that Fees for Technical Services were taxable at 10% under section 115A(1)(b) since the RBI's automatic appro...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
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...
The learned counsel for assessee justified the claim for depreciation on the ground that these amounts which were capitalized, represented expenditure incurred in raising finance for the acquisition of and/or for brining into existence capital assets and thus formed part of the cost of fixed assets.
Whether expenditure paid in cash, which is not disallowed u/s 37 (1), can be disallowed under section 40A(3). Whether provision of section 54F are applicable where nature of property turned into commercial purpose.
The assessee firm is a builder and developer and is assessed in the status of AOP. During the year under consideration, the assessee was developing a residential project which involved construction of 182 flats. The assessee did not disclose any income out of these projects on the plea that it was following ‘project completion method’ and offered income on these in AY 2010-11
ITAT had given a finding that the services provided to AE, Singapore cannot be equated with the kind of services provided to AE, Germany. Thus by following the order passed by the Tribunal in the hands of the assessee for AY 2006-07, we uphold the order of ld. DRP on this issue. Accordingly, the appeal filed by department is dismissed.
Section 2(88) defines “Sweat Equity Shares” so as to mean such equity shares as are issued by a company to its directors or employees at a discount or for consideration, other than cash, for providing their know-how or making available rights in the nature of intellectual property rights or value additions, by whatever name called
On facts, the Tribunal had clearly stated that the assessee had been in fact supplied the verbatim copy of the reasons, reproducing the same at paragraph 2 (page 2) of its order. The tribunal’s findings appear at paragraph 2.8 of the impugned order.
Whether the transactions between the head office in India and branch office in Canada can be considered as international transactions? The assessee had entered into certain transaction with his branch office in Canada. The AO had taken these transactions also into sweep for the purposes of making the transfer pricing adjustment.
It is well settled that the parameters of judging the justification for addition made in the assessment case of the assessee is different from the penalty imposed on account of concealment of income or filing of inaccurate particulars of income and that certain disallowance/addition could legally be made in the assessment
Kind reference is invited to the deliberations during the 31st Annual Conference of Pr. Chief Commissioners of Income Tax/Chief Commissioners of Income Tax and Pr. Directors General of Income-tax/ Directors General of Income-tax held on 25th & 26th May 2015 and this Division communication in this regard dated 12.06.2015.
This is an appeal filed by assessee against the order of Ld. CIT (A) dated 18/11/2013 for the assessment year 2003-2004.The grounds of assessee was that CIT (A) did not afford the assessee sufficient time and opportunity to make necessary submission and to adduce relevant details and documents
