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Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...
Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...
Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...
Income Tax : Form 16 and Form 16A serve distinct purposes under the TDS framework, with Form 16 relating to salary income and Form 16A covering...
Income Tax : Permanent Account Number (PAN) serves as a unique identifier enabling the Income-tax Department to track tax payments, returns, TD...
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 : The Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
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 Ahmedabad has removed a Rs. 52.91 lakh tax addition on a land purchase, citing unreliable evidence from a draft Memorandum of Understanding (MOU).
ITAT Nagpur sets aside an ex-parte CIT(A) order for assessment year 2017-18, imposing Rs. 10,000 cost on the assessee for chronic procedural delays and non-compliance.
Mumbai ITAT deletes income additions for Asha Bhadra in penny stock case, citing SEBI report and judicial precedents confirming genuine share transactions.
Delhi High Court directs acceptance of Acuity KP Solutions’ tax return and refund, citing time-barred assessment proceedings after ITAT’s 2012 remand order.
The ITAT Mumbai has ruled in the case of Dhiren Ramanlal Shah vs. ITO, allowing an individual partner to carry forward losses and get relief from late fees. The ruling hinges on the fact that the partner’s firm had to file an audit report, extending the partner’s own filing deadline.
Mumbai ITAT sets aside PCIT’s revisionary order against Johar Hasan Zojwalla, ruling that jurisdiction was wrongly assumed due to a factual error in the assessment year.
ITAT Chandigarh sets aside tax addition against Amico Textiles, ruling assessment invalid due to AO’s failure to follow mandatory Section 153C procedure for seized documents.
ITAT Ahmedabad limits business expense disallowance to 10% for Raj Quarry, citing lack of AO justification and assessee’s loss position.
ITAT Ahmedabad sends unexplained demonetization cash deposit case back to AO, granting assessee new chance to explain source after ex-parte order.
The updates concerning the ITR-5 form for Assessment Year (AY) 2025-26. The Central Board of Direct Taxes (CBDT) has made important changes to fall in line with the Finance Act, 2024, and Notification No. 42/2025, dated May 1, 2025, that taxpayers need to know to ensure proper filing. Applicability of ITR-5 Form ITR-5 form is […]
