Income Tax : This guide explains the penalty and prosecution framework under the Income-tax Act for AY 2026-27. It highlights the consequences ...
Income Tax : The Income Tax Department explains when interest is payable for delayed return filing, advance tax defaults, deferment of instalme...
Income Tax : The article explains how offences such as wilful tax evasion, failure to file returns, non-payment of TDS/TCS, falsification of re...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
Income Tax : This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...
Income Tax : Request to CBDT to permit filing of Form 10IC after expiration of time limit by condoning delay Issuance of Order under Section ...
Income Tax : All Odisha Tax Advocates Association has filed an PIl before Orissa High Court with following Prayers- (i) Admit the Writ Petition...
Income Tax : At the end of May the Income Tax Return forms are released for the Assessment Year 2015-16 and same been held back by finance mini...
Income Tax : ITAT held interest from head office and overseas branches is not taxable as payment to self, while interest from overseas banks al...
Income Tax : ITAT held an assessment passed after the taxpayer's death was invalid in law, quashed the order, and treated all remaining issues ...
Income Tax : ITAT Jaipur held that a one-day delay in filing Form 10DA could not defeat a Section 80JJAA deduction when the form was on record ...
Income Tax : Transfer pricing principles dictate that a captive, risk-mitigated service provider could not be benchmarked against full-fledged,...
Income Tax : ITAT held ₹33 crore settled rights over the entire land, allowing full indexed acquisition cost and rejecting proportionate rest...
Read the detailed analysis of ITAT Bangalore’s decision in Jayanti Vasishta vs ITO allowing indexed cost of construction for a penthouse regularized on the sale date.
The computation of income by AO giving effect to CIT’s direction was an assessment order which was appealable. The order passed by CIT(A), therefore, holding the assessment order to be not appealable was incorrect in law.
ITAT Delhi held that there is no provision regarding establishment of virtual service PE under India-Singapore DTAA and hence physical rendition of service in India is required under India-Singapore DTAA as per present service PE.
Securico Electronics vs. ACIT: ITAT Delhi disallows Rs.33,97,998 80IC deduction due to late Form 10CCB filing. Full text analysis & conclusion.
ITAT Delhi’s order on Trident Towers Pvt. Ltd vs ACIT addresses the deletion of addition under section 68 of the Income Tax Act, citing submission of requisite documents.
Indore ITAT clarifies that a firm can’t deny land ownership if bought through directors. Read the detailed analysis of Bagora Developers Pvt. Ltd. Vs ACIT case.
ITAT Visakhapatnam has held that if working capital adjustment on ALP has been already factored in pricing/ profitability vis-à-vis that of its comparables, then, no separate upward adjustment on outstanding receivables is required.
ITAT Bangalore held that if the duration of software license is less than two years, then it should be treated as revenue expenditure and if the duration is more than two years, then it should be treated as capital expenditure.
ITAT Bangalore held that addition under section 69 of the Income Tax Act unjustified as source of fund duly explained. Rejection of the explanation relating to source of fund by the department without sufficient reason is unsustainable in law.
ITAT Delhi held that in order to claim exemption under Section 13A of the Income Tax Act by the political party it is necessary to furnish return of income by the ‘due date’ as per Section 139 of the Income Tax Act.
