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 how faceless assessments under Section 144B operate through the e-Filing portal without requiri...
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 : 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 : Recommendation For Amendment To Section 234C To Provide Relief Where A New Business Is Started During The Financial Year Section 2...
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 Delhi held that IT, salary and travel reimbursements without any profit element were not taxable and deleted the disallowance...
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 : 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...
ITAT Mumbai held that the provision for leave encashment made on actuarial basis constitutes an ascertained liability and is allowable as deduction. Accordingly, the said ground is allowed.
The Tribunal deleted the addition sustained by the CIT(A) as it was based solely on digital data found from a third party. It reiterated that suspicion or extrapolation without direct evidence cannot sustain tax additions.
ITAT Mumbai held that balancing figure between the slump sale consideration and the value of identifiable tangible assets represents goodwill or commercial rights in the nature of an intangible asset, and depreciation thereon is allowable under section 32(1)(ii) of the Income Tax Act.
The Tribunal ruled that accepting share capital and unsecured loans without proper verification violates Section 68 requirements. It upheld the Principal CITs revision order, stating that failure to investigate renders the order prejudicial to revenue.
ITAT held that additions relying merely on investigation wing reports and retracted statements, without direct incriminating evidence, violate settled principles governing Section 153A proceedings.
The Tribunal held that once provisions were disallowed and taxed in an earlier year, their subsequent reversal cannot be taxed again. It directed withdrawal of income offered to prevent double taxation.
ITAT Delhi held that a public charitable trust cannot be taxed at the Maximum Marginal Rate under Section 167B. The Tribunal directed that income be taxed at normal slab rates applicable to an AOP.
The Tribunal held that after submission of primary creditor details, the burden shifted to the AO to disprove the claim. The case was remanded to ensure fair opportunity and proper inquiry.
The Tribunal held that reassessment initiated after three years required approval from the higher authority specified under the amended section 151. Since sanction was obtained from an incorrect authority, the entire proceeding was invalidated.
The Court held that notice under Section 148A(b) was valid despite search-related arguments. However, the assessment was set aside due to absence of proper reasoning on denial of Section 10(38) exemption for long-term capital gains.
