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 outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...
Income Tax : This article explains the statutory powers of the Principal Commissioner or Commissioner to waive or reduce penalties in genuine c...
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 : Representation for relaxation from levy of interest u/s. 234A on payment of self-assessment tax for A.Y. 2020-21 within extended d...
Income Tax : The Government is planning to specify a certain category of taxpayers to pay their entire tax liability for FY 2019-20 in advanc...
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 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 : The ITAT Ahmedabad held that royalty payments should continue to be benchmarked under TNMM by following earlier decisions in the a...
Income Tax : ITAT upheld taxation of IPS and CEV subsidies following the Section 2(24) amendment, while partly allowing the appeal on other iss...
Income Tax : Delhi High Court held the ITAT failed to properly examine the ‘make available’ test for secondment payments, set aside its ord...
Income Tax : The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st July 2021 under sub-section (1) of s...
Income Tax : CIRCULAR NO. 2/2015 The Board has decided that no interest under section 234A of the Act is chargeable on the amount of self-asses...
This guide explains the penalty and prosecution framework under the Income-tax Act for AY 2026-27. It highlights the consequences of tax defaults ranging from monetary penalties to imprisonment for serious violations.
ITAT held an assessment passed after the taxpayer’s death was invalid in law, quashed the order, and treated all remaining issues as academic.
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 before the Section 143(1) intimation.
The ITAT Ahmedabad held that royalty payments should continue to be benchmarked under TNMM by following earlier decisions in the assessees own case. It found no reason to replace TNMM with CUP where identical facts had already been decided. The Department’s transfer pricing challenge was therefore dismissed.
ITAT upheld taxation of IPS and CEV subsidies following the Section 2(24) amendment, while partly allowing the appeal on other issues.
Delhi High Court held the ITAT failed to properly examine the ‘make available’ test for secondment payments, set aside its order, and ruled for the Revenue.
ITAT held that Section 154 cannot be used where applicability of Section 167B requires factual examination, making the issue debatable and not a mistake apparent.
The ITAT held that Section 54 exemption must be examined separately for each residential house sold. The benefit cannot be restricted to one new house merely because multiple houses were transferred.
ITAT Jaipur held that exemption under Section 11 cannot be denied merely because Form 10B was filed late when it was already available before processing the return under Section 143(1). The Tribunal allowed the trust’s appeal and directed grant of the exemption.
ITAT held that Section 87A rebate cannot be denied on tax payable under Section 111A where the assessee qualifies under the prescribed income limit and follows settled Tribunal rulings.
