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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 Cochin dismisses Saida Trading Co. appeal, citing 1,233-day delay. Inability to contact signatory not “reasonable cause.” Judicial precedents on condonation of delay cited.
ITAT Nagpur condones a 607-day delay in Astavinayak Gramin Bigar Sheti’s appeal, ruling that an assessment order on a surrendered PAN constituted justifiable cause.
ITAT Kolkata upholds deletion of capital gains addition under Section 50C and disallowance under Section 14A for Tirupati Niryat Pvt. Ltd.
ITAT Delhi overturns an AO’s ad-hoc disallowance of 90% of revenue expenses for a real estate company, upholding the use of the Percentage of Completion Method and ICAI’s accounting standards.
The Supreme Court has issued strict directives against police using WhatsApp for serving notices to the accused. Upholding previous precedents, the court mandated in-person service and ordered High Courts to monitor compliance.
Learn about the new changes to Form 3CD, which now requires detailed reporting of both timely and delayed payments to MSMEs to avoid penalties and disallowances.
Madras High Court directs appellate Commissioner to condone the delay in filing of an appeal and consider that the petitioner cannot be left without any remedy, as there are prima facie indications of a mistake in not filing Form 67 as required under Rule 128 of the Income Tax Rule, 1962.
ITAT Delhi held that exemption granted to political party under section 13A denied to assessee (Indian National Congress) due to violation of 3rd proviso i.e. return of income not filed within prescribed due date. Accordingly, appeal of assessee dismissed.
Bombay High Court held that the expression ‘a residential house’ in unamended Section 54(1) of the Act includes more than one residential house. Thus, sale proceeds of one residential house used for purchase of multiple residential house qualifies for exemption u/s. 54(1).
Understand the Indian government’s tax framework for Virtual Digital Assets (VDAs). Learn about the flat 30% tax on gains, the 1% TDS rule, and limitations on deducting losses.
