ITAT Patna: Employee Not Liable for Employer’s TDS Default under Section 205
When Form 16 Says TDS, but 26AS Says “No”: The Real-World Dilemma Picture this: You’ve worked hard all year, your salary slips show TDS deductions, and your Form 16 is…
Latest Happening in Income Tax in India
ITAT Pune on Condonation of Delay in Form 10AB for Section 12AB Registration
Why even a 7 Day Delay in Form 10AB Now Matters So Much The world of charitable trust registration under Indian tax law has never been more complex—or unforgiving. Since…
ITAT Ahmedabad: 80G Registration Denied to Trust Due to Religious Objects in Deed
The Income Tax Appellate Tribunal (ITAT) Ahmedabad’s May 2024 decision in the case of OM Tapovan Charitable Trust has sent a clear message to the charitable sector: even a single…
Karnataka HC: Penalty Under Section 270A Invalid If Appeal Against Assessment Is Pending
The Karnataka High Court’s recent decision on the interplay between penalty proceedings under Section 270A of the Income Tax Act and pending assessment appeals has brought much-needed clarity for taxpayers…
No Addition Under Sections 68 & 69C for Penny Stock Cases Without Concrete Evidence
Penny stocks have long been a magnet for tax scrutiny in India. Their low price, high volatility, and occasional misuse for accommodation entries have made them a favourite target for…
SC Upholds ITAT Remand on Intra-Group Services ALP Under Section 92C(3) Transfer Pricing
The Supreme Court’s recent affirmation of the ITAT’s remand in the American Express Banking Corporation (India Branch) case marks a pivotal moment for transfer pricing jurisprudence in India, especially concerning…
Fresh SEZ Unit with New Capital Not Reconstruction — ITAT Allows 100% Deduction under Section 10AA
Fresh SEZ Unit with New Capital vs. Reconstruction — ITAT Chennai in Lotus Footwear on Section 10AA: What Truly Qualifies and How to Prove It The recent ITAT Chennai ruling…
ITAT Cochin: Notional Interest Disallowance u/s 36(1)(viii) Quashed—Borrowed Fund Interest Allowed as Revenue Expense
ITAT Cochin Quashes Notional Interest Disallowance—Interest on Borrowed Funds for Renovation of Leasehold Premises Allowed as Revenue Expense Section Reference Note: Before we begin, let’s clarify a common confusion. The…
Telangana HC Quashes Section 148A/148 Proceedings for Not Following Faceless Assessment Norms
The Telangana High Court’s recent decision to quash reassessment proceedings under Sections 148A and 148 of the Income Tax Act, 1961, for failing to comply with the faceless assessment mandate,…
Section 44AD: No Need to Explain Each Cash Deposit When Filing Presumptive Tax Returns
Small Businesses, Big Relief: Understanding Presumptive Taxation and the High Court’s Landmark Ruling For lakhs of small business owners across India, the compliance burden of income tax can feel…
Rajasthan HC: Excess Stock in Survey Taxed as Business Income, Not u/s 69
Surveys under the Income Tax Act often unearth unaccounted stock, leaving both businesses and tax professionals grappling with a crucial question: Should such excess stock be taxed as regular business…
ITAT Delhi: No Income Tax Addition on Unsubstantiated WhatsApp Chats Between Employees
The digital age has transformed how businesses communicate, with WhatsApp, emails, and other messaging platforms now woven into daily operations. This shift has not gone unnoticed by tax authorities, who…
