Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.
Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
Income Tax : Taxpayers can file updated returns within 48 months of the assessment year by paying additional tax. The provision promotes volunt...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : ITAT Chandigarh held that the assessee could not establish the authenticity of the purchase transactions underlying the LTCG claim...
Income Tax : The High Court upheld denial of Section 10(38) exemption after concurrent findings established that the share transactions lacked ...
Income Tax : The Delhi High Court upheld the denial of Section 10(38) exemption after finding that the authorities had rightly treated the shar...
Income Tax : The High Court held that issuing a demand notice along with a draft assessment order violated the mandatory procedure under Sectio...
Income Tax : The Court found that the ITAT wrongly held there was no business income despite the assessment record showing income under “Busi...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
ITAT Delhi confirmed deletion of addition on alleged diversion of interest-bearing funds, holding that hypothetical or notional income cannot be brought to tax. The ruling relied on the principle that only real income is taxable.
The High Court held that adjustment of refunds beyond 20% of disputed tax demand during pendency of appeal was unsustainable without proper justification. It directed refund of the excess amount adjusted under Section 245 of the Income Tax Act.
The Tribunal held that CIT(A) cannot enhance income under Section 251 on matters not considered by the Assessing Officer during assessment proceedings.
ITAT Indore set aside the appellate order denying TDS credit after the assessee produced Form 16A and Form 26AS showing deduction and payment of tax by the deductor. The matter was remanded to the Assessing Officer for verification and grant of eligible credit.
The ITAT Ahmedabad held that a demolished and uninhabitable structure could not be treated as a residential house for Section 54F purposes. The Tribunal upheld the assessee’s eligibility for capital gains exemption.
The ITAT Mumbai ruled that income earned by a securitisation trust created under the SARFAESI Act was taxable in the hands of Security Receipt holders because the trust qualified as a revocable trust under Sections 61 to 63 of the Income Tax Act.
The ITAT Indore held that Section 50C could not be invoked where the difference between actual sale consideration and stamp duty valuation was only 1.19%. The Tribunal directed adoption of actual sale consideration as the full value for capital gains computation.
The ITAT Ahmedabad held that Form 10-IE filed along with the return could not be ignored merely because it was not filed within the due date under Section 139(1). The Tribunal directed CPC to recompute tax under the new tax regime.
ITAT Hyderabad held that deduction under Section 80JJAA cannot be denied merely because Form No. 10DA was filed late due to technical glitches on the income tax portal. The Tribunal noted that the form was available with CPC before processing the return.
The ITAT Rajkot held that mere disallowance of expenditure during assessment proceedings does not automatically justify penalty under Section 271(1)(c). The Tribunal found no concealment or furnishing of inaccurate particulars by the assessee.
