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...
The ITAT held that payments made to directors represented arranger fees and not prohibited sub-brokerage under SEBI Regulations. It deleted the entire disallowance under Section 37(1), finding no violation of law.
The Tribunal ruled that an Investigation Wing report alone cannot justify an addition under Section 68 without independent verification by the Assessing Officer. It upheld the genuineness of the share transactions based on documentary evidence produced by the assessee.
The Tribunal held that only the profit element embedded in the disputed purchases could be taxed and affirmed a 2% estimation based on binding precedents in the assessee’s own earlier assessment years. The Revenue’s challenge to the reduced rate was rejected.
The Tribunal ruled that application software purchased independently from computer hardware is still covered under the specific depreciation entry for computer software. The Assessing Officer was directed to allow depreciation at 60% instead of 25%.
The Tribunal ruled that although CSR expenditure is not allowable under Section 37, eligible donations made to recognised institutions can still qualify for deduction under Section 80G. The assessee’s claim was allowed for eligible donations.
The ITAT Bangalore held that cash deposits could not be treated as unexplained where they were sourced from earlier withdrawals from the same bank account. It ruled that, in the absence of evidence showing the withdrawn cash was used elsewhere, the addition under Section 69A was unsustainable.
The ITAT Mumbai held that Section 69C cannot be invoked where expenditure is duly recorded in the books and its source is fully explained. It deleted the addition relating to royalty, commission, and technical service payments.
The Tribunal held that CPC could not process the return under Section 143(1) after the Assessing Officer had issued a notice under Section 143(2). It ruled that parallel proceedings under Sections 143(1) and 143(3) were not permissible.
The Income Tax Department explains how faceless assessments under Section 144B operate through the e-Filing portal without requiring personal interaction. The FAQs also cover notices, responses, rectification requests, and outstanding demand procedures.
The Income Tax Department explains when interest is payable for delayed return filing, advance tax defaults, deferment of instalments, and excess refunds. The FAQs also clarify interest rates, calculation methods, timelines, and important statutory exceptions.
