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Income Tax : This guide explains the income-tax rates applicable to individuals, HUFs, companies, firms, co-operative societies, and other taxp...
Income Tax : This guide compiles the depreciation rates applicable to buildings, machinery, vehicles, computers, renewable energy assets, ships...
Income Tax : This comprehensive guide summarizes all major tax exemptions, deductions, rebates, TDS reliefs, and procedural benefits available ...
Income Tax : Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Gro...
Income Tax : The guide compiles the principal Income-tax Act provisions applicable to non-residents establishing business in India and resident...
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 : ITAT held that Section 154 cannot be used where applicability of Section 167B requires factual examination, making the issue debat...
Income Tax : Gujarat HC quashed the reassessment proceedings after holding that ignoring the assessee's adjournment request violated natural ju...
Income Tax : ITAT held that once Form 10IE is validly exercised and not withdrawn, it continues for later years. AO was directed to grant Secti...
Income Tax : Madras HC upheld deduction for site restoration expenses, holding the contractual obligation under the PSC is allowable under Sect...
Income Tax : ITAT Mumbai held that a deduction claim supported by prevailing judicial precedents cannot attract Section 270A penalty merely bec...
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...
Even in a case where proceedings for detection of concealment is going on during the assessment proceedings, the assessee surrenders some income and AO drops the proceedings of detection of concealment by accepting assessee’s surrender without making further examination or investigation regarding detection of concealment, it can be held that it is not a case of concealment of particulars of income or furnishing of inaccurate particulars of income; because in that situation, the AO does not record satisfaction as required u/s 271(l).
A person who is contributing to the charitable cause may keep in his mind that the control of charitable activity may be with him or his family members, but that fact alone cannot dis-entitle the institution from registration unless any material is brought on record to suggest that either the objects of the charitable trust are not charitable in nature or there is a clause in the trust deed according to which certain benefits can be given either to the settler or to the trustees or to the persons related to them.
The condition precedent in the proviso to Section 147 is that the income must have escaped assessment by the failure of the assessee to fully and truly disclose all material facts necessary for assessment for that Assessment Year.
We heard the rival contentions. Before proceeding in this matter, we feel it is better to analyse the decision of Honb’le Madras ITAT decision in the case of Sivabala Devi, supra, as both the assessee and Ld. CIT(A) have placed their reliance on it. In that case, the appellant had furnished certain information regarding — her investments, sources thereof and the na
No income would arise to the American company in India in the course of deputing personnel to an Indian company who work under the control and supervision of the Indian company and carry out the work allotted to them by the Indian Company and the American company is reimbursed by the Indian company.
The salient features of the impugned case have already been noted by us namely, that the assessee is a Co-operative Society, set up by the Government of Punjab registered under the Punjab Co-operative Societies Act, 1961. The Assessing Officer has duly noted that its primary business is to grant loans to members in Urban and Rurah Co-operative Housing Societies of the State of Punjab for construction of houses and Housing Complexes. The assessee has been ea
he applicant (hereafter referred to as `AAI’) which is a Public Sector Undertaking set up under the Airport Authority of India Act has entered into a contract dated 11/12/2007 for “Automation Upgrade for third runway at IGI Airport, New Delhi” with Raytheon Company USA, (hereafter referred to as `Raytheon’). The contract involves Raytheon supplying h
Whether the compensation payable to Hellmuth, Obata + Kassabaum L.P., USA under clause VA of the Agreement dated October 15, 2008 can be disintegrated in three parts; viz., (a) for development and sale of designs (b) consultancy for construction documents, and, (c) for `Construction administration’ and `additional services’?
We are conscious of the circumstance that in the present case the re-opening of assessment is sought to be effected within a period of four years of the expiry of the relevant assessment year. However, it is now a well settled position of law that a mere change of opinion would not justify the Assessing Officer in seeking a recourse to the powers under Section 1
Whether the profits/losses from futures and options contracts (derivative transactions) carried out on the Indian Stock exchanges are in the nature of “Business income” in the hands of the applicant under the provisions of the Act read with the Agreement for Avoi
