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Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...
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 : 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 Telangana High Court held that Section 254(2) of the Income-tax Act is confined to rectifying mistakes apparent from the recor...
Income Tax : The Telangana High Court held that reassessment proceedings initiated under Sections 148A and 148 by the Jurisdictional Assessing ...
Income Tax : The Tribunal held that section 50 merely prescribes a special method for computing gains on depreciable assets and does not conver...
Income Tax : The Tribunal held that when sales are accepted and books of account are not rejected, the entire amount of disputed purchases cann...
Income Tax : The Tribunal ruled that the guideline value recorded in a registered document is not conclusive for computing capital gains if the...
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 tribunal examined whether gold jewellery seized during police interception could be taxed as unexplained solely based on a statement recorded under enquiry. It held that additions fail where later evidence shows the assessment relied on weak corroboration and inconsistent reasoning.
The issue was whether revision under section 263 was valid for multiple expense claims. The Tribunal held that since the Assessing Officer had examined issues and adopted a plausible view, revision was unsustainable.
The Authority held that treatment of psoriasis, dermatitis, fungal infections, and similar conditions constitutes healthcare services by a clinical establishment and is exempt from GST under the relevant notification.
The case examined the correct tax rate for a trust formed exclusively for employees’ benefit. The Tribunal held that such trusts are taxable at normal AOP rates under section 164(1)(iv).
The dispute concerned whether reimbursements from an associated enterprise justified a transfer pricing adjustment using the profit split method. The Tribunal set aside the adjustment, directing a fresh FAR analysis before determining ALP.
The representation highlights large-scale pendency and administrative bottlenecks under Sections 12AB and 80G, urging immediate reforms to ensure timely and fair processing.
Appeals were dismissed earlier as time-barred despite sustained efforts by the assessee through grievances. The Tribunal ruled that absence of negligence and bona fide conduct warranted condonation of long delay.
The new Income Tax Act, 2025 renames charitable and religious entities as Registered Non-Profit Organisations and consolidates all rules into a single overriding chapter for clarity and compliance.
The Tribunal rejected estimated additions based on alleged circular trading due to lack of seized material or cash trail. The key takeaway is that suspicion and presumptions cannot replace evidence in search assessments.
Courts have ruled that notices or orders issued by a Jurisdictional AO under the faceless regime are void due to lack of authority. Jurisdictional defects are incurable, and taxpayers should raise objections early to secure annulment.
