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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 Rajasthan High Court held that an order restoring appeals through review proceedings is not separately appealable under the Be...
Income Tax : The Tribunal found that the authorities below failed to properly apply the principles governing section 80P deductions relating to...
Income Tax : The ruling emphasizes that undisclosed business receipts and stock arising from an existing business cannot automatically be chara...
Income Tax : Addition of ₹90 lakh made under section 69A towards alleged cash payment for purchase of property as well as the addition made u...
Income Tax : The Tribunal noted that donations to Swachh Bharat Kosh and Clean Ganga Fund made towards CSR obligations are specifically exclude...
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 Revenue invoked section 115BBE on alleged unexplained cash. The Tribunal held the provision to be prospective and barred its application for the year under appeal.
Demonetisation-era jewellery sales were questioned as invoices mentioned buyers only as cash. The ITAT remanded the matter to verify buyer identity, stock linkage, and genuineness before sustaining any addition.
Though some estimation was justified after rejection of books, a flat 1% rate was found arbitrary. The ITAT reduced the estimate to 0.50% aligned with prior years’ margins.
Cash deposited during demonetisation was explained as coming from income surrendered and accepted in an earlier survey. The Tribunal held that disbelief about holding cash cannot replace evidence and deleted the section 69A addition.
The ITAT accepted that repayment strengthens genuineness under section 68. Unrepaid loans with missing financial details were sent back for fresh verification.
The Tribunal quashed reassessment proceedings where the section 148 notice and section 148A(d) order were issued by the JAO instead of the FAO. It reaffirmed that post-notification violations of the faceless scheme cannot be cured by participation or waiver.
The appellate order was passed ex-parte under the faceless system. The Tribunal restored the appeal, directing the authority to grant three effective opportunities to the taxpayer.
Cash deposits during demonetisation were treated as unexplained under section 69A. The Tribunal accepted possible redeposit of earlier withdrawals and restricted the addition to ₹2 lakh.
The Revenue taxed entire demonetisation cash deposits as unexplained under section 69A with section 115BBE. The Tribunal held that cash sales are possible in retail trade and restricted the addition to a 10% GP estimate.
The ITAT Delhi held that rental income already assessed in the hands of an HUF cannot be taxed again in the individual’s assessment. The addition was deleted to prevent double taxation of the same income.
