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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 Rajasthan High Court held that an order restoring appeals through review proceedings is not separately appealable under the Be...
Income Tax : The ruling emphasizes that undisclosed business receipts and stock arising from an existing business cannot automatically be chara...
Income Tax : Addition of ₹90 lakh made under section 69A towards alleged cash payment for purchase of property as well as the addition made u...
Income Tax : The Tribunal noted that donations to Swachh Bharat Kosh and Clean Ganga Fund made towards CSR obligations are specifically exclude...
Income Tax : The Tribunal emphasized that detailed quantitative reconciliation and accepted export realizations carried substantial evidentiary...
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...
The Delhi High Court upheld that exemptions under Sections 54 and 54F are applicable even if a reconstructed property contains multiple independent residential units.
The ITAT ruled that an assessment initiated before an assessee’s death is not void. It remanded the case, directing the AO to re-do the assessment in the legal heir’s name.
ITAT Chennai ruled that gold wastage during ornament manufacturing isn’t considered a payment for making charges, so TDS under Section 194C is not applicable.
ITAT Mumbai ruled that an assessee who temporarily holds cash is not its owner, leading to the deletion of Section 69A additions for unexplained money.
The ITAT ruled that unaccounted receipts from known business debtors can’t be taxed as unexplained money under Section 69A, granting relief to an assessee.
Learn about the ITAT Mumbai’s ruling in the P&G case, which found that reimbursement for ESOP and ISOP plans is a deductible business expense, not a capital or contingent expense.
CBDT exempts specified income of West Bengal Municipal Development Fund Trust from tax for FYs 2021–22 to 2025–26 under Section 10(46) of Income-tax Act.
The Central Board of Direct Taxes has notified income tax exemption for the All India Council for Technical Education (AICTE) on specific income sources.
The Central Government has exempted specific incomes of the Haryana State Pollution Control Board from income tax, effective from the 2024-25 financial year, subject to certain conditions.
The ITAT, Pune, rules that a clerical error in a trust’s registration application is a rectifiable mistake. The tribunal directs the CIT (Exemption) to reconsider the application on its merits, setting a precedent for similar cases.
