Introduction: Income tax planning is an essential component of financial health, and using legitimate techniques to minimize...
Income Tax
CBDT has identified search, survey, and reassessment cases for compulsory scrutiny in FY 2026-27. The guidelines highlight...
ITAT Delhi quashed a ₹65 lakh penalty under Section 271D after finding that no assessment was made...
The Tribunal examined whether reassessment proceedings could be initiated after the NCLT declared a moratorium under the...
The Tribunal examined whether unsecured loans could be accepted solely on the basis of loan confirmations. It...
The Tribunal examined whether donations made as part of CSR obligations could qualify for deduction under Section...
ITAT Hyderabad held that an addition based solely on discrepancies in unaudited Tally-generated statements was unsustainable. The...
The Court emphasized that procedural defaults should not override substantive tax benefits where genuine hardship exists. It...
The Tribunal accepted that part of the cash found with the assessee represented accumulated family savings intended...
The ITAT held that a common approval granted mechanically for multiple assessees did not constitute a valid...
ITAT Mumbai deleted the transfer pricing adjustment on management fees after finding that identical issues in the...
This guide outlines the complete ITR filing checklist for AY 2026-27, from AIS reconciliation to e-verification. It...
ITAT Chennai held that reopening an assessment after four years based on issues already examined during scrutiny...
This guide explains how taxpayers can select the correct ITR form based on their income profile and...
The Assessing Officer examined the audited books, balance sheet, and supporting records but did not identify any...
The Tribunal deleted the addition after finding that the taxpayer had furnished complete documentary evidence of purchase...
The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and...
The Court held that an Assessing Officer’s quasi-judicial decision cannot attract disciplinary action merely because another view...
The Tribunal admitted lenders’ tax returns and bank statements and remanded the Section 68 issue for fresh...
The Tribunal held that property investment funded through documented foreign remittances from the assessee’s husband could not...
ITAT Mumbai held that additions under Sections 68 and 69C could not be sustained where the Revenue...
Where ITAT directed inclusion of Cepha Imaging Pvt. Ltd. as a comparable solely on the basis that...
Where assessee substantiated purchase, holding and sale of shares of YICL through documentary evidence, DEMAT records, contract...
Addition of ₹11.14 crore on account of alleged bogus purchases could not be sustained without first verifying...
Pune ITAT observed that the Revenue had accepted the assessee’s scrap business in earlier and later years...
The Tribunal ruled that Section 68 does not distinguish between business advances and loans when unexplained credits...
The Tribunal held that a penalty notice must clearly state the specific limb of Section 270A being...
The ITAT Jaipur held that deduction under Section 54F cannot be denied merely due to delay in...
Resident taxpayers holding foreign assets or financial interests may be required to file returns and disclose such...
The Tribunal held that generalized investigation reports cannot substitute for concrete evidence against an assessee. Since the...
The High Court set aside the Single Judge’s order and remitted the matter for fresh consideration following...
The Delhi High Court held that personal-use disallowance principles applicable to individuals cannot automatically apply to companies....
The High Court upheld the ITAT’s restriction of disallowance to 6% of alleged bogus purchases, holding that...
The ITAT Hyderabad held that no under-reporting of income existed where the income declared in the return...
The Delhi High Court held that RTI replies showing tax return filings and bank entries did not...
The Rajasthan High Court held that proceedings cannot be initiated against a person who has already expired....
State Bank of India Vs ACIT (ITAT Mumbai) The Mumbai Bench of the Income Tax Appellate Tribunal...
The Mumbai ITAT found that the assessment order was passed without granting a reasonable opportunity to the...
The Tribunal sent the issue of deduction for political donations back to the Assessing Officer after finding...
The Tribunal held that AY 2010-11 was outside the permissible ten-year assessment block computable under Section 153A....
The Tribunal held that donations qualifying under Section 80G do not become ineligible merely because they are...
Despite withdrawal of many tax benefits under Section 115BAC, official duty-related allowances remain exempt to the extent...
Tax auditors must now report all purchases and sales of unquoted shares under Clause 47 of Form...
The Tribunal held that a genuine and reasonable explanation for delay justified condonation of nearly three years....
The workbook provides structured annexures for balance confirmations, statutory dues, bank reconciliations, loan reporting, and comparative analysis,...
ITAT held that the assessee discharged the primary burden under Section 68 by producing complete documentary evidence...
The ITAT dismissed the appeal after a rectification order under Section 154 granted the deduction under Section...
The ITAT held that deduction under Section 80P could not be disallowed through a unilateral adjustment under...
The reassessment was based on documents found during a search conducted on another person. The Tribunal held...
The Tribunal held that documents relating to the assessee were found during the search of another person....
The ITAT held that once an assessment order under Section 143(3) was passed, the earlier intimation under...
The Income Tax Act 2025 has merged old presumptive taxation provisions into a single Section 58 framework....
The ITAT Delhi held that the Assessing Officer travelled beyond the limited scrutiny mandate by examining a...
The ITAT Bangalore held that disallowance under Section 40(a)(i) could not survive once the recipient of the...
The Tribunal observed that taxpayers opting for presumptive taxation are not required to maintain books of account...
Delhi ITAT held that issues relating to source of donations and cash deposits should generally be examined...
The Bombay High Court held that recovery of tax demands could not continue when the department failed...
Chennai ITAT held that the enhanced leave encashment exemption limit of Rs.25 lakh under CBDT Notification No.31/2023...
Tribunal ruled that market value for captive power consumption must be based on the tariff charged to...
Delhi High Court held that even if the father may not qualify as a Class-I heir under...
ITAT Indore held that delayed filing of Form 10E due to Covid-19 related circumstances should not automatically...
The Calcutta High Court refused to entertain the Income Tax Department’s appeal after finding that the Revenue...
The Tribunal ruled that deemed dividend provisions require evidence of withdrawal from a company in which the...
ITAT Delhi held that notional interest on business advances cannot be taxed without actual accrual or receipt...
The Tribunal observed that once the Revenue accepted sales arising from the same goods, it could not...
The ITAT Mumbai held that a reassessment notice cannot be treated as valid merely because it carried...
ITAT Bangalore held that sale of 25 plots did not amount to an adventure in the nature...
The Tribunal held that joint ownership alone cannot restrict Section 54 deduction where the entire source of...
The Tribunal ruled that under-reported income must be calculated as the difference between assessed income and income...
The Tribunal deleted penalty under Section 271(1)(c) after substantially deleting the unexplained cash credit addition under Section...
The Tribunal observed that delays in completion of housing projects by builders cannot deprive a taxpayer of...
The Hyderabad ITAT ruled that the CIT(A) could not delete unexplained cash deposit additions merely on the...
The ITAT Ahmedabad held that co-operative banks qualify as co-operative societies for purposes of Section 80P(2)(d). The...
The Delhi High Court set aside an assessment order after finding that the Assessing Officer failed to...
The ITAT held that credits received in the assessee’s bank account were repayments of earlier advances and...
Tribunal ruled that income tax demands not included in the approved resolution plan were irrevocably extinguished. The...
AI-driven scrutiny and AIS integration are increasing Income Tax notices where property transactions occur below stamp duty...
This case highlights that cash paid to builders as “on-money” will not automatically be treated as tax...
The Tribunal accepted the assessee’s explanation that unspent cash withdrawn for labour and petty expenses was redeposited...
The article explains the complete evolution of buyback taxation in India, highlighting how tax liability shifted between...
Section 265 of the Income Tax Act, 2025 specifies who can legally verify an income tax return...
Tribunal observed that the Assessing Officer failed to establish any mismatch in stock, sales, or accounting records...
ITAT Hyderabad held that constituent members of a JV or Consortium can claim deduction under Section 80IA(4)...
The Tribunal found that full payment, TDS deduction, and transfer of possession established completion of the transaction...
ITAT Indore held that appellate order violated principles of natural justice after finding that key hearing notices...
The Delhi High Court held that a reassessment notice without physical signature remains valid when the name...
Court upheld the validity of the Section 148 notice but set aside the assessment order after finding...
ITAT Delhi held reassessment orders invalid because the assessee was not supplied with the recorded reasons for...
Tribunal reiterated that credits brought forward from earlier financial years cannot ordinarily be taxed under Section 68...
The Supreme Court dismissed the challenge to a Delhi High Court ruling that quashed reassessment proceedings under...
The Nagpur ITAT held that exemption under Section 54B requires evidence of active agricultural operations and not...
ITAT Mumbai Quashes Reassessment as Section 148 Notice Was Issued Beyond Surviving Limitation Period
ITAT Mumbai Quashes Reassessment as Section 148 Notice Was Issued Beyond Surviving Limitation Period
ITAT Mumbai held that the reassessment notice issued on 24.07.2022 was time-barred under the Supreme Court ruling...
The Andhra Pradesh High Court refused to quash summons issued under Section 131(1A) of the Income Tax...
The Ahmedabad ITAT held that goodwill arising from a High Court-approved amalgamation qualified as an intangible asset...
ITAT Delhi held that the amendment excluding goodwill from depreciation under Section 32(1)(ii) applies prospectively from 01.04.2021....
Form 157 under the Income-tax Act, 2025 is not required for every person leaving India. The requirement...
ITAT Delhi held that Section 56(2)(x) could not be applied to property transactions relating to Assessment Year...
The ITAT Dehradun held that exemption under Section 54B cannot be denied merely for non-deposit in the...
ITAT Delhi held that lawful TDS credit cannot be denied merely because the Assessing Officer overlooked an...
The Supreme Court dismissed the Revenue’s challenge to the Bombay High Court ruling that quashed a Section...
The updated ITR-1 form for AY 2026-27 expands eligibility to taxpayers with up to two house properties...
The article explains the tax implications of domestic and international holidays under the Income Tax Act, 2025....
The ITAT Visakhapatnam reduced a penalty under Section 271(1)(b) from Rs.30,000 to Rs.10,000 after treating non-compliance with...
ITAT Indore held that Section 54 exemption cannot be denied merely for failure to deposit capital gains...
The Delhi ITAT held that opening balances of unsecured loans cannot be treated as unexplained cash credits...
Sections 339 and 340 explain corpus and deemed corpus donations, investment conditions, and rules for religious place...
Calcutta High Court held that failure to investigate allocation of common head office expenses to eligible units...
The ITAT Ahmedabad held that reassessment under Section 147 was invalid because the Assessing Officer reopened the...
The Madras High Court quashed prosecution under Sections 276CC and 278B after finding that the petitioner had...
The Tribunal held that tax authorities cannot reject documentary evidence solely by labeling the explanation as an...
Comprehensive guide on TDS under Income Tax Act, 2025 covering new sections, payment codes, forms, due dates,...
The Mumbai ITAT held that the appellate authority failed to consider pending writ petitions and interim directions...
The ITAT Chennai held that exemption under Section 11 cannot be denied merely because Form 10B was...
The Supreme Court dismissed the Revenue’s challenge to depreciation claims on leased assets after the Bombay High...
The Madras High Court held that taxable income was not properly computed where deduction under Section 80IB...
ITAT Deletes Bogus Purchase Addition as No Evidence Linked Assessee to Alleged Accommodation Entries
ITAT Deletes Bogus Purchase Addition as No Evidence Linked Assessee to Alleged Accommodation Entries
ITAT Ahmedabad held that reassessment under Section 147 was invalid as the Assessing Officer failed to show...
ITAT Chandigarh held that cash deposits during demonetization could not be treated as unexplained income since the...
ITAT Rajkot held that revision under section 263 was not sustainable where the Assessing Officer had already...
ITAT Grants Section 12AB Registration as Missing PAN Details Cannot Make Small Donations Non-Genuine
ITAT Grants Section 12AB Registration as Missing PAN Details Cannot Make Small Donations Non-Genuine
ITAT Nagpur held that nominal donations received in small amounts could not be treated as non-voluntary contributions...
The Delhi High Court held that reassessment proceedings under Section 148 were invalid where the Assessing Officer...
The Tribunal quashed the assessment after finding that the statutory conditions under Section 153C were not properly...
Mumbai ITAT observed that assessable value under customs law may differ from invoice value and such variation...
Court held that there was no direct or indirect connection between the assessee and the handwritten inquiry...
The article explains why advertisement expenses for brand building remain deductible under Section 37. Courts have consistently...
The article explains how procedural lapses in trust registration renewal can activate Section 115TD and impose heavy...
Mumbai ITAT held that additions for alleged accommodation entries and commission income cannot be sustained solely on...
Bombay High Court held that delay in filing Form No. 10 for claiming accumulation under Section 11(2)...
The ITAT Amritsar reduced additions on unexplained cash deposits after considering that the assessee and his wife...
The ITAT Amritsar remanded a case involving denial of section 54B exemption where the assessee relied on...
KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that...
India’s new PAN compliance framework introduces stricter documentation and verification requirements for NRIs and foreign entities. The...
The Delhi High Court held that additional documents already referred to in a criminal complaint can be...
The Delhi High Court held that shareholders of a foreign company cannot be taxed on the company’s...
The article explains how gems and jewellery businesses must distinguish compliances governed by the Income-tax Act, 1961...
ITAT Mumbai held that addition under Section 69A could not survive when based solely on a third-party...
The Patna ITAT upheld rejection of a trust’s Section 12AB registration after finding that the trust deed...
The High Court held that documents received through official international channels carry presumption of genuineness but must...
ITAT Delhi held that Section 69A could not be invoked where the Assessing Officer himself accepted that...
The Mumbai ITAT held that exemption under Section 54F has to be given effect before applying set-off...
The Supreme Court dismissed the challenge to a Bombay High Court order condoning delay in filing Form...
An analysis of capital and revenue receipts under tax law, explaining classification, taxability, judicial tests, and key...
This blog explains the concept of TDS and Advance Tax in a simple and practical manner along...
Avoid common AY 2026-27 ITR filing errors, including deadline confusion, capital gains mistakes, AIS mismatches, and missed...
ITAT Delhi upheld deletion of disallowance under Section 40A(3) after finding that payments were made to multiple...
ITAT Delhi confirmed deletion of addition on alleged diversion of interest-bearing funds, holding that hypothetical or notional...
ITAT Indore set aside the appellate order denying TDS credit after the assessee produced Form 16A and...
The ITAT Ahmedabad held that a demolished and uninhabitable structure could not be treated as a residential...
The ITAT Mumbai ruled that income earned by a securitisation trust created under the SARFAESI Act was...
The ITAT Indore held that Section 50C could not be invoked where the difference between actual sale...
The ITAT Ahmedabad held that Form 10-IE filed along with the return could not be ignored merely...
DCIT-CC-8(4) Vs Offbeat Developers Private Limited (ITAT Mumbai) The Mumbai Income Tax Appellate Tribunal examined Revenue appeals...
Pune ITAT held that accounting reclassification entries and journal adjustments require proper verification before being treated as...
Pune ITAT held that penalty for under-reporting of income cannot survive where the Assessing Officer accepts the...
Madras High Court held that a reference to the District Valuation Officer was valid because the Assessing...
ITAT Mumbai held that prolonged non-payment of interest and repeated amendments to loan agreements justified benchmarking AE...
DCIT Vs Shikha Indrakumar Agrawal (ITAT Nagpur) The Nagpur Bench of the Income Tax Appellate Tribunal dismissed...
The Tribunal held that unrecovered advances made in the ordinary course of business can be allowed as...
The Tribunal found that the assessee had furnished agricultural sale bills, revenue records, and bank details supporting...
The Delhi High Court held that CBDT Circular dated 18.11.2024 clearly prescribed a maximum period of three...
The Gujarat High Court upheld the ITAT order restricting disallowance on alleged bogus purchases to 6% instead...
The article explains how equity mutual funds, PMS, and AIFs are taxed compared to Fixed Deposits under...
The ITAT Mumbai set aside the CIT(A) order after finding that crucial survey findings and Tally data...
The Income Tax Act, 2025 replaces Sections 44AD, 44ADA, and 44AE with a unified Section 58 framework....
Rule 46(8) of the Income-tax Rules, 2026 requires businesses maintaining electronic books to create daily backups on...
CBDT’s 2026 amendment strengthens grandfathering protection for investments made before the commencement of GAAR. The clarification addresses...
The Tribunal held that notice under Section 148 was invalid as it was issued by an officer...
The Tribunal found that the transfer pricing adjustment was incorrectly computed using SEB sale rates. It allowed...
The issue involved estimation of income based solely on bank credits without supporting verification. The Tribunal remanded...
The court held that only the income component of alleged bogus purchases can be taxed, not the...
The tribunal held that interest cannot be disallowed where advances to related parties are made for business...
The relocation did not lead to structural enhancement of business assets. The Tribunal ruled that such expenses...
The Tribunal accepted the delay caused by representative’s illness as sufficient reason and admitted the appeal. It...
The case addresses the continued failure to release ITR utilities on time despite earlier court directions. The...
The Tribunal relied on Supreme Court precedent to hold that interest on tax arrears is compensatory, not...
The Tribunal held that excess stock found during survey had direct nexus with business operations. It ruled...
The issue involved additions based on alleged bogus purchases without VAT payment. The Tribunal remanded the matter...
The Tribunal upheld TDS liability where tax was deducted only on part of the property value. It...
The Tribunal held that activities linked to micro-credit and welfare schemes do not negate charitable status in...
Tribunal held that non-compliance with earlier appellate directions requires fresh adjudication. Key takeaway: appellate authorities must follow...
The Tribunal ruled that exemption under Section 11(2) should not be denied solely due to delayed filing...
The new law keeps depreciation methods unchanged for continuity. However, it broadens tax scope by including assets...
The new law restructures TDS provisions into Sections 392, 393, and 394, altering compliance procedures. Correct selection...
Dealer incentives like tour packages are taxable as business income under the new law. If TDS is...
The issue was deletion of additions on unsecured loans treated as unexplained cash credits. The tribunal upheld...
The new law defines strict conditions for reopening assessments using specified information categories. It ensures transparency and...
The Finance Act, 2024 has inserted a new section, 194T, for TDS deduction by partnership firms/Limited Liability...
The framework outlines mandatory disclosures and timelines for opting into safe harbour. Key takeaway: strict compliance is...
The new form consolidates multiple income disclosures into one, enabling accurate TDS deduction. Key takeaway: unified reporting...
Court held that penalty under Section 270A cannot apply where assessed income does not exceed processed income....
The Tribunal held that the assessee had adequately explained the source of cash deposits with supporting evidence....
ITAT Delhi held that companies owning and operating channels cannot be compared with distribution company for the...
The scheme allows households to deposit gold and earn interest without selling it. The key takeaway is...
The Tribunal examined disallowance made for delayed employee contributions under Section 143(1). It held that debatable issues...
The issue involved validity of penalty proceedings initiated through an unsigned notice. The Tribunal ruled that such...
The case examined whether property registered in trustees’ names violated Section 13(1)(c). The Tribunal held no violation...
ITAT Mumbai held that payments made to third-party vendors on a cost-to-cost basis, without any value addition...
The Tribunal held that consolidated Excel entries showing aggregate cash sales were insufficient to establish receipt of...
The Tribunal deleted purchase disallowances after noting invoices, transport records, weighbridge slips, tax returns and bank payments...
The issue was whether a share transfer without consideration constituted taxable capital gains. The Tribunal held that...
The Tribunal held that since the Assessing Officer made no addition after verifying disclosures, the grievance lacked...
The issue is the replacement of Form 30C under the new tax regime. The update introduces Form...
The issue is understanding complex NPS rules, tax benefits, and recent updates. The framework clarifies withdrawal flexibility,...
The issue was the complex and scattered TDS/TCS provisions under the old law. The new Act consolidates...
The issue is complexity and duplication in old tax forms. The new system simplifies compliance through consolidation...
The case examined whether interest earned from co-operative banks qualifies for deduction under Section 80P(2)(d). The Tribunal...
The issue was whether compensation paid to flat buyers was capital or revenue expenditure. The Court held...
The issue was whether third-party diaries using code “DD” can justify 153C action. ITAT held that without...
The Tribunal held that complete disallowance was excessive despite lack of full documentation. It allowed 50% deduction...
The Tribunal held that cash disclosed in earlier returns can explain seized cash. It restricted addition to...
The Tribunal invalidated reopening as the AO obtained approval from the wrong authority. It held that compliance...
The court examined whether delay in Form 10B filing could be condoned but found the authority rejected...
The issue involved classification of land for capital gains taxation. The Court held that revenue records and...
The Court held that reassessment cannot be initiated on issues already examined during scrutiny assessment. It ruled...
The case involved addition on account of unexplained foreign remittances. The Tribunal held that failure to examine...
The case deals with rejection of a delayed tax appeal due to insufficient explanation. The Court upheld...
The tribunal permitted set-off of interest paid against interest earned, finding both were intrinsically linked to business...
The new law introduces audit requirements for businesses declaring profits below presumptive rates. It removes the earlier...
The Tribunal examined whether reassessment notices issued by a jurisdictional officer instead of a faceless authority were...
The Tribunal held reassessment invalid as the alleged escaped income did not exceed ₹50 lakh required for...
The issue was estimation of commission income from alleged accommodation entries. The tribunal held that addition should...
The Tribunal noted that statements relied upon were later retracted and lacked corroboration. It held that such...
Reassessment Quashed for Lack of Jurisdiction – AO Became Functus Officio After Section 127 Transfer
Reassessment Quashed for Lack of Jurisdiction – AO Became Functus Officio After Section 127 Transfer
The issue was whether reassessment initiated by a non-jurisdictional AO is valid. The tribunal held that proceedings...
The Tribunal noted that loans were part of regular business transactions with repayments in the same year....
The issue was whether entire purchases can be disallowed as bogus under Section 69C. The tribunal held...
Consistency over technicalities: ITAT Mumbai allowed actuarial pension provision as an ascertained liability, rejected mechanical disallowances, and...
The case examined whether reassessment approval beyond three years was issued by the competent authority. The court...
The case examined whether interest earned on temporarily parked funds is taxable. The court held that funds...
The Tribunal held that reassessment proceedings were invalid as approval was taken from the wrong authority beyond...
The issue is whether high-income earners can reduce tax liability under the old regime. The analysis shows...
The court examined whether interest on FDRs could be taxed as other income. It held that where...
ITAT Delhi held that revisionary proceedings under 263 of the Income Tax Act justifiable since related-party expenses...
The article explains how IRS audits are initiated and conducted to verify tax return accuracy. It highlights...
The Tribunal held that failure to issue a jurisdictional transfer order under Section 127 invalidates the assessment....
The Supreme Court declined to condone delay, thereby upholding the High Court’s conclusion that the liaison office...
The judgment confirms that income from offshore equipment supply is not taxable where transactions occur outside India....
The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law...
The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits....
The Tribunal held that wage arrears arising from pay revision constitute an accrued liability from the effective...
The Tribunal held that receipts from sponsorship and royalty were incidental to the promotion of sports. It...
The Tribunal addressed disallowance arising from mismatch between ITR and tax audit report. It held that inadvertent...
The case involved additions for unexplained bank deposits where the assessee later produced authenticated NRE account evidence....
The Court dismissed the SLP due to a 390-day delay and absence of valid grounds. The ruling...
The High Court followed its earlier ruling that interconnect service charges are not taxable as royalty. The...
Key mistakes taxpayers should avoid when choosing between old and new tax regimes for FY 2026-27, including...
ITAT Kolkata remands case on disallowance of subcontractor expenses, stressing need for evidence, due diligence, and verification...
The issue was whether a reassessment notice issued by a jurisdictional officer instead of a faceless officer...
The Tribunal held that addition under Section 41(1) cannot be made without proof of actual cessation of...
The Tribunal ruled that surrender of tenancy rights occurs only upon receiving new property possession. As possession...
The issue involved taxing capital gains from a development agreement in multiple years. The court held the...
The Tribunal held that enhancement of income without issuing notice under section 251(2) is invalid. Such action...
The new rules replace old form numbers with a structured sequence across categories. The update simplifies compliance...
Tax authorities are increasingly questioning decision logic behind TDS deductions. The lack of recorded reasoning in ERPs...
The reform replaces dividend-based taxation with capital gains to ensure only real income is taxed. It removes...
The update outlines revised compliance forms, timelines, and penalties under the new rules. It highlights a structured...
This highlights the ambiguity in classifying AI-generated income under existing tax provisions. It explains how classification impacts...
Transfer of passive infrastructure (PI) assets under a court-approved scheme of demerger without consideration qualified as a...
The Tribunal held that a development agreement granting only a limited license for construction does not constitute...
The Tribunal held that loan repayment cannot be treated as unexplained cash credit under section 68. The...
The Tribunal held that penalty under section 271(1)(c) cannot be sustained when identical facts in earlier years...
The Court held that input tax credit cannot be restricted to the month of invoice when business...
The issue addressed is fragmented and complex compliance for NPOs under earlier law. The new Act consolidates...
The issue was whether purchases could be treated as bogus based on investigation reports. ITAT held that...
The issue was whether machinery replacement qualifies as current repairs. The Court held that replacement creating enduring...
The Court held that rejecting condonation solely because the assessment year was not mentioned in the circular...
The Tribunal held that purchases cannot be treated as bogus when supported by invoices, bank payments, and...
The issue involved whether fresh scrutiny could be initiated after filing a modified return under Section 170A....
Kerala High Court set aside ITAT orders as mechanical and non-speaking, holding that the Tribunal failed to...
The Tribunal held that unsigned excel sheets without supporting evidence cannot justify additions. It ruled that absence...
The case explains how dividend income is taxed based on residential status and type of investment. It...
The case highlights that TDS applies to multiple income categories including salary, interest, and contracts. It reiterates...
The new tax framework significantly reduces complexity by cutting sections, rules, and forms. It improves readability through...
The Tribunal held that the Indian entity was only a distributor and not a technology or content...
The Tribunal held that penalty under Section 271(1)(c) cannot be imposed when additions are made on an...
The Tribunal clarified that filing of original return is not mandatory for claiming exemption under Section 54....
The Tribunal held that additions based solely on third-party statements and Excel sheets are unsustainable without independent...
The Court held that indirect share transfers deriving value from Indian assets are taxable. Treaty benefits were...
The Tribunal invalidated reassessment proceedings since the Section 148 notice was issued after 01.04.2021, making it time-barred....
Courts held that investment in under-construction property qualifies as construction under Sections 54/54F. Deduction cannot be denied...
CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect...
The new Act retains the arm’s-length principle but introduces refined definitions, stricter compliance, and enhanced penalties for...
The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting...
The new Act removes the confusion between Previous Year and Assessment Year by introducing a unified Tax...
This covers how business income is computed under the Income-tax Act, including normal and presumptive methods. It...
ITAT Agra held that the assessee is entitled to claim deduction u/s. 10A of the Income Tax...
The ruling held that incomplete documentation or minor deficiencies cannot be sole grounds for denial of registration....
The Tribunal upheld deduction of ESOP expenses under Section 37(1) by relying on binding jurisdictional High Court...
Income Tax Department Ministry of Finance, Government of India DTAA & FTC Double Taxation Avoidance Agreement (DTAA)...
This explains the new block assessment mechanism allowing ALP to apply across multiple years. It emphasizes reduced...
The issue concerns arrangements structured primarily to obtain tax benefits. It was held that such arrangements can...
The case explains the statutory framework governing appeals and revisions under the Income-tax Act. It highlights the...
The framework outlines different assessment types to verify income and tax liability. It ensures accuracy through self,...
The depreciation provisions applicable from Tax Year 2026-27 have undergone a significant structural change. With the enactment...
ITAT Delhi held that Advertisement, Marketing & Promotion expense [AMP expense] incurred by Make My Trip wholly...
The issue was fragmented TDS compliance through multiple forms. The new framework consolidates them into Form 141,...
The issue concerns complexity in the existing TDS/TCS provisions. The new framework consolidates sections and introduces coding...
The issue concerns taxation of online cricket gaming winnings. The framework mandates a flat 30% tax with...
The new tax framework significantly reduces the number of rules and forms, aiming to simplify compliance. It...
The Tribunal held that additions based on presumptions without evidence cannot be sustained fully. It reduced the...
The Tribunal held that exemption cannot be denied merely because the purchase agreement was unregistered. Substantial payment...
Courts held that exemption cannot be denied merely due to lack of registration if possession and substantial...
The Tribunal held that where registration is delayed, the stamp duty value on the agreement date must...
The Supreme Court upheld that Section 206C(1C) applies only to lawful mining arrangements involving lease or licence....
TCS Cannot Be Extended to Illegal Mining Cases Due to Absence of Transfer of Rights: Chhattisgarh HC
TCS Cannot Be Extended to Illegal Mining Cases Due to Absence of Transfer of Rights: Chhattisgarh HC
The High Court held that Section 206C(1C) applies only to lawful mining arrangements involving lease or licence....
The tribunal held that gains from sale of shares did not fall under Article 14(4). It ruled...
The article explains remedies available after adverse tax orders under scrutiny and reassessment. The key takeaway is...
The issue was penalty for misreporting on sale of land classified as capital asset. The Tribunal held...
The issue concerns mandatory reporting of specified financial transactions under tax law. The key takeaway is that...
The framework requires taxpayers to withdraw all pending appeals and proceedings. It establishes that dispute resolution is...
The issue concerns applicability of tax audit based on turnover thresholds. The ruling highlights that exceeding prescribed...
The provisions regulate acceptance, payment, and receipt of cash beyond specified limits. They impose strict penalties to...
The issue concerns tax relief for foreign investors in infrastructure. The key takeaway is that specified funds...
The Tribunal addressed denial of leave encashment exemption restricted to ₹3 lakh. It held that the revised...
The Court directed the jurisdictional authority to consider the delay condonation request after PAN transfer. It held...
The case examined whether disallowance under section 94(7) should be limited to exempt dividend. The Tribunal held...
The case examined whether settlement of a corporate guarantee liability qualifies as business expenditure. The Tribunal held...
Income not falling under primary heads is taxed under Income from Other Sources. The provision ensures comprehensive...
The ruling holds that deposits made from surplus business funds are part of operational activity. Interest earned...
The case examines whether penalty can be levied when the quantum issue is admitted by the High...
The issue was denial of deduction under Section 54F as a fresh claim not made in return....
The issue was whether full bank deposits of a commission agent can be taxed as unexplained income....
The issue was whether reassessment beyond 3 years is valid when escaped income is below ₹50 lakh....
ITAT held that a return filed under section 148 remains valid even if delayed. Failure to issue...
The tribunal ruled that business income under section 44AD cannot be taxed using section 44ADA provisions. Presumptive...
The tribunal held that the 10% safe harbour applies even to DVO valuations, not just stamp duty...
The issue was whether high-turnover companies can be compared with a smaller software service provider. The Tribunal...
The case involved additions made solely on an Excel sheet and a third-party statement alleging cash payments....
Section 247 now permits registered valuers to assist in search and seizure valuations. The key takeaway is...
Explains new income-tax cash limits on expenses, receipts, and loans. Highlights that exceeding thresholds can lead to...
The Tribunal held that ad hoc disallowance of labour expenses without concrete evidence is unsustainable. It ruled...
The tribunal held that capital gains from share buyback are not taxable in India under treaty provisions....
The new Form 26 replaces multiple audit forms with a single structured framework. It enhances transparency and...
ITAT held that reassessment notice issued after three years without PCCIT approval violates Section 151(ii). The approval...
ITAT upheld deletion of penalty as the exemption issue was pending before the High Court. The assessee...
ITAT remanded the case as authorities failed to determine whether the assessee was a society, trust, or...
The Tribunal held that the assessee failed to substantiate the source of cash deposits during demonetization. Mere...
The Tribunal held that the assessee could not deduct tax due to binding interim directions of the...
The tribunal held that addition under Section 69C is not valid where expenditure is properly recorded and...
India’s new tax law restructures the Income-tax framework without increasing tax burden. The key takeaway is that...
The new tax law renumbers TDS return forms and introduces a unified reporting system. The key takeaway...
Starting April 1, 2026, India will implement a significant tax reform by replacing the Income-tax Act of...
ITAT Mumbai held that development fees collected from passengers was earmarked for capital expenditure towards modernisation and...
CIT Vs Patel Engg. Ltd. (Bombay High Court) The appeals before the Bombay High Court arose from...
The Tribunal found inconsistency between payment date and share allotment date, raising doubts about the transaction. It...
The court held that reassessment cannot be initiated on issues already examined during scrutiny. It ruled that...
Tribunal held that GST-based turnover differences cannot be taxed again when income was already recorded in prior...
The court examined whether delay in filing returns during insolvency proceedings constituted genuine hardship. It held that...
This guide explains why income is deemed to accrue in India under Sections 5 and 9 of...
The case explains how agricultural income remains tax-free under Section 10(1) but affects tax rates on other...
The new law replaces the 1961 Act to address excessive complexity and scattered provisions built over decades....
ITAT Mumbai held that no TDS is liable to be deducted when payment is made for serving...
The notification grants exemption under Section 10(46) as the entity operates without commercial intent. It clarifies that...
Investments made by a foreign company could not be attributed to a non-resident individual shareholder without lifting...
The issue was whether share capital addition could be sustained without seized evidence. The Tribunal held that...
The issue was whether proceedings under Section 153C were time-barred. The Tribunal held that the assessment fell...
The issue was whether additions could be made in unabated assessments without incriminating material. The Tribunal held...
The issue was whether approval under Section 151 granted without reasons is valid. The Tribunal held mechanical...
Forms 134 and 135 introduce a revised system for TAN allotment under the Income-tax Act, 2025. The...
A free live workshop will discuss the structure and practical implications of the proposed Income-tax Act, 2025...
The article explains how ESOP taxation spans salary, capital gains, DTAA, and disclosure requirements. It highlights that...
The article explains how the coexistence of GloBE and GILTI leads to different tax outcomes for similarly...
The article explains that tax authorities often disallow intra-group charges where evidence of actual services is missing....
ITAT Mumbai Accepted Ignorance & Accountant’s Default as Sufficient Cause for Delay in Appeal Filing
ITAT Mumbai Accepted Ignorance & Accountant’s Default as Sufficient Cause for Delay in Appeal Filing
The Tribunal examined whether delay in filing appeal was justified under section 249(3). It held that sufficient...
The Tribunal examined whether addition under Section 68 could be made without seized evidence. It held that...
For nearly three decades, the India-Mauritius DTAA of 1983 was the golden corridor for foreign capital flowing...
HUF allows families to create a separate tax entity with its own PAN and ITR, enabling income...
Form 130 becomes the new TDS certificate from April 2026 under the 2025 Act. The key takeaway...
The tribunal held that systematic sports training and self-defence instruction to students constitute education under Section 2(15)....
ITAT Denies Section 10(10D) Exemption as Assignment Does Not Alter Nature of Keyman Insurance Policy
ITAT Denies Section 10(10D) Exemption as Assignment Does Not Alter Nature of Keyman Insurance Policy
The case involved exemption claim on maturity of an assigned Keyman Insurance Policy. The Tribunal held that...
The case involved denial of remaining depreciation where machinery was used for a short period. The Court...
The Tribunal held that change in accounting method causing timing difference cannot lead to double taxation. Since...
The tribunal held that the holding period of the previous owner must be included when property is...
The issue involves overlapping applicability of old and new tax laws. The analysis highlights compliance risks and...
The issue involved taxing property value as unexplained investment without prior notice. The Court held that absence...
The law restricts TDS corrections to a limited window ending 31 March 2026 for past years. Missing...
The issue involved arbitrary estimation of income at 20% and 5% of turnover. The Tribunal reduced it...
This article explains how AI tools may provide outdated tax advice under the new law. The key...
Overview of US tax credits including refundable, nonrefundable, and partially refundable credits, with examples, forms used, and...
MPTCA urges the Finance Ministry and CBDT to reconsider the proposed late fee for delayed tax audit...
ITAT held that entire receipts cannot be treated as unexplained when income is already offered to tax....
The issue was non-service of an income tax order and availability of remedy. The Court allowed withdrawal...
The Tribunal held that the appellate authority cannot go beyond the issue of TDS credit in a...
The tribunal held that Renewable Energy Certificates are distinct from carbon credits under Section 115BBG and must...
The issue was whether reassessment was valid without proper service of mandatory notice under Section 143(2). The...
The tribunal held that government support includes capital grants, land, and infrastructure, not just recurring funding. This...
The Tribunal held that delay due to lack of awareness and administrative oversight constituted sufficient cause. It...
The court held that amounts received under interim orders cannot be taxed as income when the dispute...
The board directed offices to function on Mahavir Jayanti. The move ensures completion of financial year-end work...
The tribunal held that a gift deed alone cannot establish legitimacy under Section 68. It directed fresh...
The Court refused to interfere as the writ petition was filed after completion of reassessment proceedings. It...
The Court set aside rejection of registration based solely on absence of an irrevocability or dissolution clause....
The Tribunal ruled that incorrect invocation of Section 69A does not invalidate the addition. Since the loan...
ITAT remanded the matter where the assessee claimed PAN misuse leading to additions under Sections 68 and...
The classification depends on whether there is actual crypto transfer. Cash-settled trades are generally treated as speculative...
The Tribunal held that delay in filing Form 67 is a procedural lapse. It restored the matter...
The issue was whether ALP can be determined without comparable transactions. ITAT held that Rule 10AB mandates...
ITAT set aside the addition made under Section 68 due to incomplete verification of a large gift...
The case addressed whether reassessment can proceed before disposing of objections. The Tribunal ruled that such action...
Bad Debts Allowed on Write-off, 26AS Mismatch Cannot Trigger Addition: ITAT Dismisses Revenue Appeal
Bad Debts Allowed on Write-off, 26AS Mismatch Cannot Trigger Addition: ITAT Dismisses Revenue Appeal
The Revenue challenged allowance of bad debts due to lack of NCLT evidence. The Tribunal held that...
ITAT held that exemption under Section 11 cannot be denied via rectification under Section 154 for alleged...
The Budget 2026 proposes shifting buyback taxation from dividend to capital gains. Promoters will face an additional...
The updated TDS provisions reorganize multiple earlier sections into a simplified framework covering salary, resident payments, non-resident...
The new tax law formally embeds faceless assessments into the statute, replacing the earlier scheme-based system and...
The Tribunal held that capital gains arising from property transferred to a spouse without consideration must be...
ITAT held that addition under Section 69B based only on a loose sheet seized from a third...
The Income Tax Department acknowledged incorrect ‘significant transaction’ details in some advance tax reminder emails. Taxpayers are...
Budget 2026 proposes a new penalty framework for failure to report crypto-asset transactions under section 509. Reporting...
A free live workshop will discuss the structure and practical implications of the proposed Income-tax Act, 2025...
The Calcutta High Court declined to interfere with an income tax assessment order, holding that writ jurisdiction...
The Madras High Court examined repeated provisional attachment orders issued under Section 281B without detailed reasoning. The...
ITAT Delhi held that payments made by an employees’ welfare society to members, including death claims and...
The tribunal ruled that reassessment proceedings for a period prior to the approval of an NCLT resolution...
The Supreme Court refused to condone a delay of 262 days in filing the Special Leave Petition...
ITAT Mumbai held that reassessment initiated without approval from the correct authority under Section 151 is invalid....
The Supreme Court upheld the invalidation of an assessment order issued in the name of a company...
The Income-tax Act, 2025 introduces Form 141 to replace Form 26QB from April 2026. The change aims...
The new Income-tax Act, 2025 retains the obligation to maintain books of account under Section 62. Businesses...
The Tribunal held that capital gains from property transferred to a spouse without consideration must be taxed...
The Tribunal held that reopening beyond three years requires sanction from higher authorities under Section 151(ii). Since...
The Tribunal held that Section 269SS does not apply when cash is received as part of final...
The Tribunal held that when the difference between purchase price and DVO valuation falls within the 10%...
The Tribunal held that failure to start charitable activities cannot by itself justify denial of registration under...
ITAT Chennai deletes Sec 270A penalty, ruling 200% penalty for misreporting cannot be imposed without specifying clause...
ITAT Chennai rules 60% tax under Section 115BBE not applicable to AY 2017-18 transactions before 01-04-2017; directs...
The Tribunal examined whether penalty under Section 271(1)(c) can arise when income is added due to the...
The Tribunal held that when an adjustment made in the CPC intimation is subsequently deleted in appeal,...
Despite disputes over agricultural income additions, the Tribunal focused on the legality of the proceedings. It held...
The case addressed whether tax authorities can issue notices for multiple years based on one satisfaction note....
The tribunal considered whether inconsistent explanations alone justify treating cash deposits as unexplained income. It held that...
The tribunal examined whether the reasons given for late filing of the appeal were sufficient. It ruled...
ITAT Delhi held that Oracle India Private Limited is an independent legal entity and existence of Oracle...
ITAT held that the appellate authority wrongly dismissed the appeal under Section 249(4)(b) as there was no...
Advertising payments on Google Ads attract 2% TDS under Section 194C of the Income Tax Act. Businesses...
The High Court set aside the provisional attachment of property under the Income Tax Act after finding...
Budget 2026 proposes reducing the stay-of-demand deposit from 20% to 10% of core tax demand under Section...
The Income Tax Department conducted surveys across multiple cities after AI analysis revealed significant discrepancies between transactional...
The proposed amendments rationalise tax provisions, simplify reporting rules, and introduce clearer deductions and exemptions. The reforms...
ITAT Delhi deleted additions under Sections 68 and 69C after finding that the assessee received and repaid...
The Central Government, in the Union Budget 2026, has proposed an important amendment concerning employee welfare funds....
Courts have held that reassessment proceedings must be based on the reasons recorded before issuing notice under...
The Tribunal ruled that a bona fide technical mistake in selecting the wrong section code while applying...
The Madras High Court quashed the rejection of a condonation application, holding that the delay in filing...
ITAT Delhi held that a trust registered under Section 10(23C)(iv) was required to file Form 10BB instead...
The Court issued notice in a plea to quash criminal proceedings where the applicant argued that alleged...
This article explains the five most frequent issues arising in modern income tax assessments, including unexplained cash...
The High Court held that reopening an assessment merely because the tax officer formed a different view...
The Supreme Court declined to entertain the revenue’s SLP after noting that a fresh notice had already...
The Court found that the Assessing Officer had knowledge of the amalgamation before issuing the assessment orders....
ITAT Hyderabad held that reassessment proceedings were invalid because the notice under Section 148 was issued by...
A significant change proposed in the current Union Budget relates to the disallowance of deduction of interest...
The ITAT held that revisional powers under Section 263 cannot be exercised when the Assessing Officer has...
The Finance Act 2023 introduced a 12.5% LTCG tax without indexation as an alternative to 20% with...
The benchmark price was incorrectly determined because material economic differences between Thailand and Vietnam markets were not...
The Tribunal ruled that unverified KOT data and handwritten loose sheets are insufficient to establish unaccounted sales....
The court held that a retracted statement by a trustee alleging capitation fee collection cannot justify tax...
The tribunal held that disallowance under Section 14A cannot be made when the assessee has not earned...
The Bombay High Court set aside reassessment, demand, and penalty proceedings after finding that the notice under...
The Tribunal found that the authority misapplied the law by relying on provisions relating to donor deductions...
Rules 307–311 of the Draft Income-tax Rules, 2026 outline how pension funds must purchase annuities, restrict commutation,...
Draft Income-tax Rules 2026 prescribe definitions, trust conditions, investment rules, and limits on employer contributions for approved...
The tribunal held that exemption for a statutory housing authority depends on whether housing units were sold...
The Court held that rejection of condonation for a 50-day delay in filing Form 10B was improper...
The Tribunal refused to condone an 840-day delay in filing an appeal where the assessee claimed the...
The Tribunal held that a trust engaged in educational activities for the public cannot be labelled religious...
The Tribunal found that the taxpayer had filed Form 68 seeking immunity from penalty but the request...
The Tribunal ruled that exemption under Sections 11 and 12 cannot be denied by aggregating separate shareholdings...
The Court ruled that a person who is neither a director, shareholder, nor employee of a company...
The SC dismissed a challenge to sanction notices for income tax prosecution, holding that objections including validity...
The Delhi High Court held that issuing a 15% withholding certificate without properly considering the Supreme Court’s...
The High Court set aside income tax assessments after holding that a specific written request for personal...
The High Court held that only 30 days of limitation survived after applying TOLA and Supreme Court...
Delhi High Court held that seismic survey services in connection with exploration of oil cannot be held...
The Tribunal held that an appeal filed before a Bench lacking territorial jurisdiction is not maintainable and...
The Tribunal held that EIS paid to originators is not subject to TDS because the originator had...
The Court directed the PCCIT to appoint a senior officer to re-examine a refund claim where both...
Tribunal held that rejection of the Project Completion Method was invalid as the Assessing Officer did not...
Tribunal held that application software licences with limited duration and no ownership rights are revenue expenditure. It...
FAQs on TCS under Income Tax Act, 2025 as amended by Finance Bill, 2026, covering rates, exemptions,...
Draft Rule 146 prescribes fixed conversion formulas for slot and space charters, defines qualifying incidental shipping income,...
Draft Rule 147 requires Board orders issued under section 239(3)(a) to be published through Gazette, official website,...
Bombay High Court held that adjustments under Section 143(1)(a) are invalid if prior intimation is not issued...
Rule 129 prescribes notice and forms for Section 274 reference, detailing objections, tax benefit basis, and Commissioner’s...
Rules 127 and 128 of the Draft Income-tax Rules, 2026 restrict GAAR impact to the tainted part...
Draft Rule 126 of the Income-tax Rules, 2026 limits eligible activities of IFSC-based Finance Companies and mandates...
Draft Rule 125 of the Income-tax Rules, 2026 mandates Form 61 authorization filing and extensive ownership disclosures...
Draft Rule 66 requires mandatory audit, Form 32 filing, and section-wise document submission for claiming deductions under...
Draft Rules 63–65 prescribe strict approval, notification, and compliance conditions for universities, sports bodies, and rent deduction...
Rule 62 mandates that deductions under Section 128 for specified serious diseases are allowed only when supported...
Rule 61 of Draft Income-tax Rules, 2026 prescribes medical authority certification and Form 30 for autism, cerebral...
Draft Income-tax Rule 60 permits carry forward of accumulated loss and unabsorbed depreciation in amalgamation only if...
ITAT Mumbai deleted the Section 68 addition on LTCG from listed shares, holding that documentary evidence, STT...
Budget 2026 introduces sweeping retrospective amendments affecting limitation, reassessment jurisdiction, DIN validity, and TPO timelines. The changes...
The ruling affirms India’s shift from literal interpretation to a substance-based tax regime. It clarifies that transactions...
Rule 51 limits Indian resident participation in original funds to 5% for specific AIF transfers, while Rule...
Draft Rule 50 provides a formula-based mechanism to attribute income taxed under Section 67(10) to capital assets...
Introduction The taxation of capital gains is one of the most significant components of India’s direct tax...
The Court quashed withdrawal of tax exemption after holding that franchise fees from affiliated schools were only...
The Court held that while duty drawback is not eligible for Section 80-IC deduction, excise and customs...
The Tribunal held that reopening beyond three years was invalid since the alleged escaped income, after considering...
Arulcheyal Kainkarrya Sabha Vs CIT (Exemptions) (ITAT Chennai) The appeals before the Income Tax Appellate Tribunal (ITAT),...
Draft Income-tax Rules 2026 mandate Form 5 for preliminary expense statements under Section 44 and Form 6...
Orissa High Court held that post search operation all pending assessments/reassessments doesn’t not automatically get abated as...
The Tribunal held that the disallowance of share purchase cost under Section 115BBE, arising from alleged bogus...
ITAT Bangalore held that revisionary power u/s. 263 of the Income Tax Act is not justifiable since...
ITAT Hyderabad held only ₹1.24 crore accumulation from A.Y. 1994-95 survives for possible Section 11(3) taxation; earlier...
Supreme Court held that commercial wisdom of Committee of Creditors [CoC] is non-justiciable. Stalling CIRP on account...
Rule 26 clarifies when payments exceeding ₹10,000 in cash will not face disallowance under sections 36(4) and...
ITAT Indore held that Section 249(4)(b) does not apply in reassessment proceedings where no advance tax obligation...
ITAT Raipur held that Section 249(4)(b) applies only where advance tax was legally payable. In absence of...
Rule 25 restricts depreciation to 40% WDV for specified taxpayers opting for concessional tax regimes. The rule...
The High Court quashed an assessment order passed without granting personal hearing despite a written request. It...
The Court ruled that excise duty refund received under an incentive scheme was a capital receipt and...
The High Court dismissed the appeal holding that stock statements forming the basis of overdraft drawing power...
The Court set aside the Section 197 order holding that distribution fees were treated as royalty without...
ITAT Mumbai held that reassessment beyond three years is invalid if approval is not obtained from the...
The assessees long-term capital gains claim was upheld as genuine. In absence of direct evidence linking the...
ITAT Mumbai quashed reassessment beyond 3 years as escaped income was ₹37.76 lakh ( The post Reopening...
Reassessment based solely on investigation inputs about penny stocks was rejected. The Tribunal held that documented transactions...
The Tribunal ruled that reopening beyond three years requires approval from higher specified authorities under Section 151....
ITAT Mumbai deleted ₹6.15 lakh penny stock LTCG addition, holding investigation report and abnormal price rise insufficient...
elying on Supreme Court precedent, the Court upheld ITAT’s finding that reopening based on reappraisal of existing...
The government introduces unified safe harbours, faster APAs, and reduced litigation burdens to enhance certainty for multinational...
Even under the new tax regime, employer contributions to NPS remain deductible under Section 80CCD(2). This reduces...
Budget 2026 introduces a six-month window to regularise undisclosed foreign assets with reduced penalties and immunity under...
The ITAT Bangalore held that penalty under Section 270A for alleged underreporting and misreporting of income could...
Indian tax law taxes not just salary but also perquisites like rent-free accommodation, company cars, and stock...
Budget 2026 replaces certain procedural penalties with fixed fees, aiming to reduce tax litigation and enhance compliance...
The Draft Income-tax Rules, 2026 require salaried taxpayers to disclose their relationship with landlords, enabling enhanced scrutiny...
The Tribunal held that reassessment under Sections 147/148 is invalid when the assessment year is the year...
The Tribunal held that revision under Section 263 is invalid where the Assessing Officer examined records and...
The Tribunal held that cash deposits cannot be treated as unexplained when the bank account is recorded...
The Tribunal ruled that admission of fresh evidence without AOs examination violated procedural rules. The deletion of...
The Tribunal found non-compliance with statutory duties under Sections 250(4) and 250(6). The dismissal on delay alone...
When a scheduled video hearing under faceless assessment is not attended by the officer, the opportunity becomes...
The Tribunal ruled that Section 40(a)(ia) cannot be used to penalize deduction under an incorrect TDS provision...
Budget 2026 introduces the new Income Tax Act, 2025 effective 1 April 2026. The existing law will...
The Court ruled that reopening based solely on an audit objection amounts to change of opinion if...
The AO recorded reasons for escapement without receiving confirmation from the Sub-Registrar. ITAT ruled that absence of...
The ruling emphasized that tax authorities must gather evidence instead of relying on coerced admissions. Additions made...
The Tribunal emphasized that assumptions based on common names cannot justify major tax additions. Without documentary linkage...
Registration was cancelled over doubts about a large NRI donation. The Tribunal held that receipt of donation...
The article analyses proposals to expand tax-free income and rationalise slabs, arguing that higher thresholds would better...
Explains how agricultural income is defined under the Income Tax Act and why it is exempt under...
Tax liability depends on days spent in India, not citizenship. Understanding ROR, RNOR, and NR status determines...
The Tribunal held that reopening beyond three years is impermissible where alleged escaped income is below ₹50...
One of the main ways the government raises money is through taxes, which also have a big...
The High Court granted a second opportunity after finding that assessment orders were passed without reply, as...
High Court held that compensation received for termination of trademark rights in AY 1997-98 was a capital...
The Tribunal upheld penalty for non-filing of return under Explanation 3 but ruled that computation must reduce...
ITAT Amritsar upheld rejection of 12AB registration after finding that only ₹2.51 lakhs out of ₹40 lakhs...
ITAT Delhi ruled that non-response by suppliers to Section 133(6) notices alone cannot justify treating purchases as...
The ITAT Kolkata held that where assessment is completed under Section 143(3), alleged earlier non-compliance with notices...
The Tribunal ruled that undated, unsigned loose sheets lacking independent evidence cannot justify additions under Section 153A....
The Tribunal held that once the return is accepted as valid under Section 139(1), denial of carry...
ITAT held that approval by the Principal Commissioner was invalid where more than three years had elapsed...
ITAT held that a portion of cash paid could reasonably be sourced from accumulated withdrawals from joint...
The Tribunal held that non-filing of Form 10CCB along with return is a curable defect. A genuine...
The Tribunal held that assumption of jurisdiction under Section 153C was invalid due to a defective and...
ITAT Mumbai held that transfer pricing addition made in respect of Letter of Comfort rightly deleted since...
The Tribunal held that acceptance of returned income without examining material indicating possible unaccounted cash investment amounts...
The Tribunal held that the scope of enquiry at the registration stage is limited to objects and...
Observing that the assessee invested the entire share of sale proceeds within two years and obtained possession,...
Booking.com platform earning of commission income is not taxable in India since AO has failed to discharge...
ITAT Mumbai held that securitisation trusts, cannot be assessed as an AOP, are revocable within the meaning...
ITAT Mumbai held that the disallowance under section 14A of the Income Tax Act read with rule...
The Supreme Court upheld the High Court’s ruling that reassessment beyond three years requires sanction under Section...
The Delhi High Court held that reassessment beyond three years requires approval under Section 151(ii). Notices issued...
The Supreme Court dismissed the Revenue’s plea and affirmed that TCS under Section 206C(1C) applies only to...
The High Court held that TCS under Section 206C(1C) applies only to lease or licence holders paying...
The Court held that reassessment proceedings cannot be quashed merely due to factual disputes. In absence of...
The Tribunal held that once depreciation on goodwill is allowed in the first year, it cannot be...
The ITAT held that an assessment and appellate order passed without effective participation, allegedly due to notices...
The High Court held that a reassessment notice issued after expiry of the six-year period under the...
The Court found no merit in interfering with the High Court’s order setting aside a belated reassessment...
The law now taxes debt-heavy funds, MLDs, and certain international products as short-term at slab rates. Investors...
The Supreme Court confirmed that reassessment powers under Section 148 cannot be used to bypass the statutory...
The Court held that reassessment based solely on material seized in a third-party search must proceed under...
The Supreme Court refused to interfere with the High Court’s direction to process Section 10(46) applications. The...
The High Court held that statutory bodies can surrender approval under one exemption provision and seek notification...
The High Court held that failure to pass a reasoned final order on an informant’s reward violates...
Learn how Section 87A rebate works with LTCG u/s 112A under the new tax regime for FY...
Explains how the new tax regime under Section 115BAC impacts higher-income salaried taxpayers, analysing the 25% slab,...
The Tribunal remanded the case after finding that the addition was made solely on Investigation Wing inputs...
The ruling clarified that increased expenditure in one year, by itself, does not permit partial disallowance. The...
The High Court held that quick repayment alone cannot establish a paper transaction when identity, creditworthiness, and...
The draft rules cut down the number of rules and forms significantly through consolidation. This signals a...
This article explains how Section 54EC allows exemption from long-term capital gains through investment in notified bonds....
Revenue argued that control and fixed hours created employment. The Tribunal ruled that such controls ensure discipline...
The issue was how cryptocurrency income is classified for tax purposes. The framework holds that transfers fall...
The Revenue treated cash deposits as unexplained under Section 69A despite matching withdrawals and opening cash balance....
ITAT held that CPC cannot deny charitable exemption under section 11 through section 143(1) adjustment without issuing...
The ITAT held that unsupported DCF valuation could not justify high share premium. The addition under Section...
The Tribunal held that a short delay caused by hospitalisation must be condoned when supported by evidence....
The ITAT condoned a 66-day delay after accepting that the trust was unfamiliar with the income-tax e-filing...
The Court held that an assessee cannot be denied TDS credit or saddled with tax demand when...
The new law replaces dividend-style taxation on buybacks with capital gains treatment. Retail investors now pay tax...
The Finance Bill, 2026 replaces automatic tax-free redemption with strict eligibility conditions. Only original subscribers holding bonds...
The issue highlighted is Budget 2026’s failure to address everyday compliance and procedural problems. The key takeaway...
The Bill retains corporate tax rates while rationalising MAT and offering targeted incentives for IT, cloud services,...
The tribunal held that additions made solely on the basis of a statement recorded from an employee...
This covers how unexplained credits and investments are taxed under Sections 68 to 69D. The key takeaway...
The case involved a penalty for alleged non-disclosure of a foreign bank account. The Tribunal held that...
The ruling held that reassessment proceedings initiated after the permissible period were legally unsustainable. The decision reinforces...
The issue was whether timely issuance was enough when notice was served after limitation. The court held...
Madras High Court held that Tax Recovery Officer doesn t have authority to declare mortgage as void-ab-initio....
The Bill simplifies filings, eases compliance, and boosts certainty. Key takeaways include revised deadlines, MAT changes, and...
The scheme allows eligible taxpayers to disclose undisclosed foreign assets or income with immunity from prosecution. The...
Relying on precedents including rulings of the Delhi High Court, the Tribunal held that extrapolation across years...
The Tribunal held that once business receipts are taxed on an estimated basis, separate additions for payments...
The Budget introduces a new Income-tax Act, eases compliance, and rationalises penalties. The key takeaway is a...
The Finance Bill proposes a sharp increase in the penalty for failing to furnish information. The move...
The Bill proposes halving the tax rate on unexplained income from 60% to 30%. It signals a...
Taxpayers can now seek immunity even where under-reporting arises from misreporting. This is allowed on payment of...
Taxpayers can now seek immunity even where under-reporting results from misreporting. Payment of full tax, interest, and...
Federal cooperatives receive a temporary deduction for dividends earned from company investments made before 31 January 2026....
The Tribunal held that while interest on enhanced compensation was taxable as per settled law, the exemption...
he Bill limits block assessments for other persons to the actual year of undisclosed income. The key...
The Finance Bill, 2026 converts key penalties for audit and reporting delays into mandatory fees. The shift...
The law now proposes a single consolidated assessment-cum-penalty order for under-reporting of income, reducing multiple proceedings and...
The Finance Bill, 2026 proposes to disallow interest deductions against dividend and mutual fund income. From April...
The faceless assessment added all bank deposits as unexplained income without examining the commission-based business structure. The...
The Income-tax portal now allows digital filing of condonation requests for delayed trust forms. The key takeaway...
Industry expects higher exemption limits, revised slabs, and expanded deductions to increase disposable income and improve voluntary...
This session breaks down the major income tax amendments announced in the Union Budget 2026 in a...
This explains how the new law defines “income” using an inclusive approach rather than a fixed list....
This explains how salary income is taxed under Sections 15 to 19 of the 2025 Act. The...
The law mandates successor entities to file modified returns within six months of a reorganisation order. This...
Income-tax attachments can halt business and personal finances. Relief depends on identifying the correct legal trigger and...
The court ruled that delayed filing of Form 10 for income accumulation cannot defeat exemption when substantive...
The tribunal ruled that statements of third parties cannot be relied upon unless the assessee is provided...
The Tribunal confirmed deletion of additions where the AO made no effort to verify consignees, transporters, or...
ITAT Ahmedabad held that addition made on the basis of third-party WhatsApp chat without any incriminating material...
The Tribunal examined whether lease rent and allied charges from an IT Park were business income or...
The issue was whether section 68 could be invoked for alleged on-money payments absent direct evidence. The...
The issue was whether the full value of alleged bogus purchases could be added to income. The...
The Court held that the Revenues challenge failed since the issue had been conclusively decided by the...
The Court held that findings of the appellate authorities clearly established the assessee’s role as a developer....
The issue was whether retention money credited and subjected to TDS accrues as income. SC, noting the...
The issue was whether retention money credited and subjected to TDS accrued as income. The Court held...
The Tribunal held that discounts given to stockists in pharmaceutical distribution are part of sale transactions on...
The Tribunal held that where reassessment is based solely on search material found during a third-party search,...
Following judicial criticism of delayed appeals, officers urged structural reforms to fix institutional gaps rather than penalising...
With repeated technical failures hampering compliance, officers requested formal absolution from blame. The letter emphasizes collective institutional...
The Tribunal held that corpus donations cannot be denied merely due to technical lapses like student collection...
The notification exempts defined categories of income of a legal services authority, while warning that violations may...
ITAT ruled that unverified electronic records recovered from a third party do not constitute reliable evidence of...
The government has approved an institution for scientific research under section 35(1)(ii), enabling donors to claim tax...
ITAT Mumbai held that goodwill arising from slump sale of a going concern is a depreciable intangible...
The Tribunal held that overseas shares acquired from reinvested dividends cannot be taxed as undisclosed assets when...
Courts have held that once TDS is deducted from salary, the employee cannot be asked to pay...
The court held that tax authorities cannot rely on earlier findings already set aside by appellate bodies....
The dispute concerned the correct terminal point for computing six assessment years under section 153C. The Tribunal...
The Tribunal held that revision under section 263 is invalid where the Assessing Officer has already conducted...
The ruling clarifies that mere reproduction of third-party information alleging disproportionate assets is insufficient. The Assessing Officer...
The Tribunal noted that no construction investment occurred during the year under appeal. Accordingly, no addition for...
It was ruled that under-reported revenue cannot be inferred solely from service tax data when no defects...
Tribunal held that unsecured loans cannot be treated as unexplained where confirmations, bank statements, and tax returns...
It was ruled that reassessment proceedings must be initiated only through the faceless mechanism after the CBDT...
The Tribunal held that a penalty order issued after the death of the assessee is void ab...
The Tribunal emphasized that the assessee had no individual business in electronic goods. In the absence of...
Upholding the appellate order, the Tribunal ruled that section 68 applies only to credits of the relevant...
Coca Cola India Inc. Vs DDIT (ITAT Delhi) ITAT Delhi held that final assessment order passed beyond...
Delhi High Court held that an employee cannot be denied TDS credit due to the employer’s default...
The court addressed a demand arising from automated processing that led to double disallowance of expenses. It...
The Delhi High Court held that review jurisdiction is limited and cannot be used to reargue decided...
The issue examines how presumptive taxation is consolidated under Section 58. The key takeaway is that structural...
The issue concerned valuation of royalty for bundled services. ITAT held that faulty comparables vitiated the CUP...
The issue concerns prolonged rectification and recovery pressures. The proposal seeks strict timelines, deemed approvals, and automatic...
The issue was whether revision could be invoked during a pending appeal. ITAT held that PCIT lacks...
ITAT Chandigarh Strikes Down Section 147 Proceedings Based on Uncorroborated Third-Party Excel Sheet
ITAT Chandigarh Strikes Down Section 147 Proceedings Based on Uncorroborated Third-Party Excel Sheet
The issue was whether reassessment initiated by the Jurisdictional AO was valid. The Tribunal held the notice...
ITAT held that share capital additions cannot rest on an inspector’s report not shared with the assessee....
ITAT held that Section 68 cannot be invoked where donors are identified with names, PAN, ITRs, and...
Section 194T introduces a flat 10% TDS on partner remuneration and interest, sharply reducing monthly liquidity for...
The Tribunal ruled that additions based only on presumptions and low income of subscribers are invalid. Proper...
The Tribunal ruled that payments made directly to truck drivers, and not transporters, fall outside Section 40A(3)...
The Tribunal held that a Section 54 exemption can be claimed in a reassessment return if it...
The case examined additions made in Section 153C assessments based on third-party search material. The Tribunal ruled...
The issue was whether reassessment is valid when reasons for reopening are not placed on record. The...
This explains how different securities are taxed under Indian income-tax law. The key takeaway is that asset...
The Tribunal condoned a 506-day delay after accepting that the appeal was filed only when heavy penalty...
The issue was whether third-party diaries and loose papers could establish receipt of unaccounted income. The Tribunal...
This ruling clarifies that an assessee can be treated as an agent of a non-resident only if...
The Tribunal examined whether prior approval under Section 153D was granted after due application of mind. It...
It was ruled that deciding appeals based on facts of another year is a serious legal error....
The tax department has begun emailing taxpayers about pending demands shown on the portal. This explains why...
Income Tax Department was directed to encash the Demand Draft, confirm the sale, and issue the Sale...
The issue was whether a trader declaring income under Section 44AD could face additions for unexplained cash...
The Tribunal held that NFAC had no authority to pass reassessment orders before the faceless reassessment notification...
It was ruled that interest for late filing of the original return can be computed based on...
The Tribunal ruled that exemption for charitable trusts cannot be denied merely due to belated filing of...
This ruling clarifies that repayment of loan with interest, coupled with documentary proof, negates allegations of unexplained...
Relying on Supreme Court precedent, the Tribunal held that the IBC has overriding effect over the Income-tax...
The Tribunal held that a reassessment notice issued to a company already struck off from the ROC...
Applying judicial relief on Section 115BBE, the remaining tax demand fell below the prescribed threshold. The ruling...
The Tribunal ruled that purchases cannot be treated as bogus merely because suppliers did not reply to...
The Tribunal ruled that cash deposited during demonetisation came from genuine business sales already offered to tax....
The Tribunal held that documented WhatsApp communications established counsel’s negligence and the assessee’s due diligence, justifying condonation...
The ITAT held that once a resolution plan is approved under the IBC, income-tax proceedings cannot continue....
This article outlines major direct and indirect tax expectations from Budget 2026–27. The key takeaway is a...
The Budget is expected to further rationalise import duties to offset high metal prices and strengthen global...
The addition was set aside as no cash was found, traced, or shown to be received by...
Payments to AwasBandhu were allowed as application of income. The Tribunal held such statutory contributions further public...
The Tribunal held that cash advances/on-money received for an ongoing real estate project cannot be taxed before...
The Tribunal held that wrist watches are valuable articles covered under Section 69A, and additions made under...
The Tribunal held that an enforceable agreement to sell, supported by advance consideration, constitutes transfer under Section...
The Court upheld deletion of a major addition, holding that valuation under Section 56 must follow the...
The Tribunal examined whether a single satisfaction note could sustain reassessment proceedings for multiple years under section...
The Tribunal held that inadvertent mistakes in filing Form 10AB cannot defeat a trust’s right to exemption....
The Tribunal found that full construction cost was not proved with evidence. However, a reasonable ad-hoc allowance...
The Tribunal held that reassessment cannot survive when no addition is made on the very issue for...
The case examined whether an appeal dismissed as withdrawn under the Vivad Se Vishwas Scheme could survive...
The addition under Section 69 was remanded as the assessee claimed the source through rotation of funds....
The Tribunal held that reassessment notices issued after 01.04.2021 for AY 2015-16 are time-barred. Such reopening is...
The court held that additions for excess stock and cash cannot be sustained when based solely on...
Holding that actions prescribed by statute must be performed only in the specified manner, the Tribunal deleted...
The tribunal held that dismissal for delay and confirmation on merits without effective hearing violated principles of...
The Court held that sanction for reopening was taken under the wrong statutory provision. As a result,...
The Tribunal upheld taxation of enhanced compensation and interest under land acquisition after insertion of section 56(2)(viii)....
The Tribunal found that estimating agricultural income solely on standard yield figures ignores real-world farming variables. The...
The Tribunal examined whether provision for salary arrears arising from the Sixth Pay Commission was contingent or...
The Tribunal ruled that VAT collected but not credited to the profit and loss account cannot be...
The issue was whether reassessment remains valid when no Section 143(2) notice is issued after a return...
The Tribunal held that when the Assessing Officer disagrees with FMV supported by a registered valuer, a...
The core issue was whether lack of knowledge of proceedings justified late appeals. The Tribunal held that...
The Court ruled that omission to issue Section 143(2) vitiates reassessment at the root. Such a defect...
The Court held that Section 197 applications cannot be rejected mechanically to “protect revenue.” Mandatory factors under...
The High Court held that long-held, undeveloped land sold by the assessee gave rise to capital gains....
The Supreme Court upheld rejection of treaty benefits where transactions were prima facie designed to avoid tax....
The dispute concerned late filing of an audit report triggering penalty under section 271B. The Tribunal accepted...
While an error in computation was acknowledged, prejudice to Revenue was not established. The Tribunal quashed the...
The case examined whether entire purchases could be treated as bogus when sales were undisputed. The Tribunal...
Recognizing the nature of the manufacturing business and accepted sales, the Tribunal scaled down the disallowance. The...
The Tribunal clarified that expenditure disallowances do not qualify as assets under section 149(1). Without asset-based escaped...
Judicial rulings clarify that Section 54 focuses on timely investment of capital gains, not rigid legal ownership...
The Tribunal held that interest from bank fixed deposits lacked a direct nexus with credit facilities. Deduction...
The Tribunal held that reopening based solely on third-party information without independent application of mind is invalid....
The Tribunal held that no commission income can arise from circular transactions within group entities. Additions based...
The dispute centered on whether indexation could be claimed on a factory building sold along with land....
The Tribunal held that an appeal cannot be dismissed for non-prosecution and must be decided on merits....
The issue was whether appeals could be decided ex parte without examining merits. The tribunal held that...
The Tribunal held that AMC services and marketing support services could not be aggregated for transfer pricing...
The Tribunal set aside the confirmed penalty where non-filing of return was attributed to medical reasons. The...
The Tribunal set aside rejection of registration due to partial documentation and remanded the matter for fresh...
The Tribunal remanded additions based on excess bank credits for factual reconciliation, granting another opportunity subject to...
The tribunal held that an ex parte assessment involving large unexplained bank credits required fresh adjudication. The...
The case examined whether an appellate authority could set aside an ex-parte reassessment. The tribunal held that...
The court upheld the quashing of a reassessment notice where the reasons were based on vague portal...
Court held that reopening of assessment based solely on vague information from Insight Portal, without a live...
Tribunal held that TDS liability under section 194-IA cannot arise unless Revenue proves that payment was actually...
The Tribunal held that reassessment proceedings initiated after the statutory limitation period were invalid. Following the Supreme...
The Tribunal held that an addition based solely on third-party search material without corroboration is unsustainable. With...
The Tribunal examined whether a creditor’s unilateral write-off automatically results in cessation of liability for the assessee....
The ruling clarified that exemption under section 54F cannot be denied if it was not part of...
Recognising the role of a Kaccha Arhtia, the Tribunal ruled that only commission constitutes income. TDS deducted...
The Tribunal examined whether a large consultancy payment was allowable when the assessee failed to establish its...
The assessing authority made a large addition without explaining its nature or legal basis. The Tribunal ruled...
The Tribunal observed that the transfer pricing adjustment was based on unexplained margin calculations. A fresh working...
Taxpayers are facing revival of decades-old demands without prior notice or service of orders. The key takeaway...
The Tribunal held that reopening completed scrutiny assessments beyond four years is invalid when reasons do not...
The Tribunal held that reassessment notices issued by the jurisdictional officer violated the mandatory faceless regime under...
The Court found that the explanation regarding dividend income was on record but not examined. Reopening based...
High Court quashed the adjustment made in the intimation under Section 143(1) disallowing deduction under Section 10B...
It was held that sale consideration from trust property, when donated to charitable institutions, cannot be taxed...
The issue was whether bank credits already offered as income in an HUF’s return could again be...
Additions were made solely because the trust failed to submit details during assessment and appeal. ITAT set...
ITAT held that Section 153C cannot be invoked where the satisfaction/hand-over date is after 01.04.2021, quashing multiple...
The Tribunal held that unexplained cash credit addition cannot survive once identity, genuineness, and creditworthiness are established...
This article explains why agricultural income lies outside the Income-tax Act and how constitutional provisions grant exclusive...
The new Income Tax Act, 2025 reshapes compliance from 1 April 2026 without changing tax rates. Businesses...
The Tribunal held that delayed responses to statutory notices do not attract penalty when full compliance is...
Tribunal held that cash found and seized cannot be treated as unexplained when it is fully reflected...
The Tribunal held that for years where assessments were already completed, additions under Section 153A cannot survive...
The Tribunal held that interest on income-tax refund is taxable in the year of receipt and qualifies...
The case examined whether short delays in filing mandatory exemption forms during the pandemic could be condoned....
The Tribunal held that a deduction cannot be disallowed merely due to delayed filing of Form 10CCB...
The Court held that employees cannot be held liable for TDS non-deposit when the employer deducts it....
The issue was whether cash deposited during demonetisation could be treated as unexplained. The Tribunal held that...
The Tribunal held that amendments to Section 11 cannot retrospectively curtail the utilization window for earlier accumulations....
The Tribunal upheld restriction of disallowance where interest-free funds were higher than tax-free investments. It reaffirmed that...
The Tribunal held that when interest-free funds exceed exempt-income investments, no interest disallowance under Section 14A can...
The courts held that when depreciation on goodwill is allowed after detailed examination, the assessment cannot be...
Authorities cannot insist on adding an irrevocable clause in trust deeds for Section 12A renewal when the...
Capital gains exemptions on property sales often lead to litigation due to Section 54 timelines and unclear...
The issue was whether revision could stand on incorrect factual assumptions. ITAT held that misreading records makes...
The issue was whether additions can rest on seized loose sheets termed as dumb documents. The Tribunal...
The issue was a 44-day delay in filing Form 10B by a charitable trust. The Court held...
The issue was whether reassessment could proceed without disposing of objections to recorded reasons. The Court held...
The Court examined rejection of condonation for delayed e-filing despite acceptance of related delays. It ruled that...
The issue was whether reassessment notices issued after the permissible surviving period were valid. The Court held...
The issue is when High Courts can entertain appeals against ITAT orders. The key takeaway is that...
The government notified a settlement guarantee fund for income-tax exemption under Section 10(23EE). The benefit applies from...
The Court set aside a 3.5% TDS certificate after the PE finding relied upon by the Revenue...
While search proceedings were still pending, the Court permitted release of seized jewellery and cash after petitioners...
Gujarat High Court held that reopening of assessment u/s. 147 of the Income Tax Act solely on...
The ruling clarifies that specified sum under section 269SS refers to advances linked to property transfers. Cash...
It was ruled that speculative losses from non-genuine share transactions cannot be adjusted against interest income. The...
Exemption was curtailed because the auditor reported application from past accumulations. The Tribunal ruled CPC acted correctly...
The matter was sent back as the appellate authority did not examine the plea for allowance in...
Where compensation and interest are deposited under judicial custody due to a pending appeal, no real income...
It was held that transport charges cannot be disallowed when PAN-based TDS, ledger matching, and banking trails...
The tribunal rejected demand raised solely due to Form 26AS mismatch caused by employer non-deposit of TDS....
The reopening relied on a bank account number that did not match the account from which transactions...
The Tribunal ruled that minor delay in filing Form 10AB cannot justify rejection when law permits condonation....
The Tribunal held that section 69C cannot be invoked when expenditure is recorded in books and its...
The issue was whether a second reassessment could be initiated on the same facts already examined earlier....
The representation highlights large-scale pendency and administrative bottlenecks under Sections 12AB and 80G, urging immediate reforms to...
The new Income Tax Act, 2025 renames charitable and religious entities as Registered Non-Profit Organisations and consolidates...
Courts have ruled that notices or orders issued by a Jurisdictional AO under the faceless regime are...
ITAT Hyderabad held that notices under Section 148 issued on 01.04.2021 without following mandatory Section 148A procedures...
The issue was whether an assessment could be reopened after four years. The Court held that full...
The court held that reopening beyond the permissible period was invalid where full disclosures were made and...
The Tribunal held that earning income as a percentage of hospital turnover is commercial, not charitable. Section...
The tribunal ruled that Section 50C could not apply because the DVO’s valuation ignored the impact of...
ITAT Hyderabad held that the final assessment order passed by the A.O. u/s. 143(3) r.w.s. 144C(13) r.w.s....
ITAT Hyderabad held that matter of TP adjustment of purchase of raw materials, assembling parts and sale...
The article breaks down salary components such as basic salary, allowances, and perquisites. It highlights which parts...
This calendar lists all major statutory filings due in January 2026 across GST, Income Tax, SEBI, FEMA,...
The Tribunal held that reassessment proceedings fail when the foundational assumption behind reopening is factually incorrect. It...
Understand the income tax implications of upfront lease premiums in BOT leases for lessors and lessees, including...