Curated legal news, case breakdowns, and workflow tips for fast-moving practitioners.
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ITAT Hyderabad rules severance pay is taxable as profits in lieu of salary unless exempt under Section 10. Learn how employees can avoid costly tax mistakes.
In a major relief for salaried taxpayers, ITAT Kolkata ruled that employees cannot be taxed again if TDS is deducted but not deposited by employers. Tribunal directed CBDT to reco…
The Supreme Court has ruled that “derived from” under Section 36(1)(viii) requires a direct first-degree nexus with long-term finance. Dividend, deposit interest, and service inco…
The Supreme Court clarifies that interest from bank deposits, dividends, or service charges is not eligible for deduction under Section 36(1)(viii) of the Income-tax Act. Only inc…
ITAT Mumbai rules that once purchases are held bogus, the entire amount must be added under Section 69C. In ACIT vs Romil Diam, the Tribunal rejected 8% profit estimation, strengt…