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Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...
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 : 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 Jodhpur ITAT held that deduction under Section 80GGC cannot be denied merely on allegations against a political party in the a...
Income Tax : Assessment orders passed pursuant to express liberty granted by the High Court during pendency of settlement-related litigation re...
Income Tax : The ruling emphasizes that undisclosed business receipts and stock arising from an existing business cannot automatically be chara...
Income Tax : The Tribunal held that when sales are accepted and books of account are not rejected, the entire amount of disputed purchases cann...
Income Tax : The ITAT Pune held that the CIT(A)/NFAC cannot dismiss an appeal merely for non-prosecution without adjudicating the issues on mer...
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...
Ministry of Finance announces amendment to Section 48 of the Income-tax Act, 1961, introducing a new cost inflation index effective from Assessment Year 2026-27.
ITAT Bangalore reinstates Dhwani Shristi Foundation’s tax exemptions, ruling genuine charitable activities outweigh expenditure quantum for registration.
Delhi High Court addresses Fujitsu India’s transfer pricing appeal, validating ‘headcount’ for expense allocation and remanding comparable selection for re-evaluation.
ITAT Delhi quashes reassessment for AY 2016-17, ruling the AO obtained improper sanction from Principal Commissioner instead of Principal Chief Commissioner.
The Delhi ITAT ruled that simply writing off a bad debt in the books is enough to claim it under Section 36(1)(vii) of the Income-tax Act, 1961, without needing to prove irrecoverability.
Hyderabad ITAT rules that TDS credit cannot be denied solely on account of sales returns. Rule 37BA misapplied when income is declared.
Mumbai ITAT rules Section 263 cannot override AO’s reasoned decision allowing 80G deduction on CSR expenses, citing consistent tribunal judgments.
Hyderabad ITAT rules Ramalingeswara Swamy Temple’s Section 11 exemption cannot be denied for delayed Form 10BB filing if submitted before assessment order.
Mumbai ITAT ruled in Sanand Sankardas Vs ITO that reassessment proceedings initiated by a non-jurisdictional Assessing Officer against an NRI are invalid. The tribunal quashed the assessment order, emphasizing that only the International Taxation AO has jurisdiction over NRI cases, rendering notices issued by other AOs void.
Pursuant to the amendment under Union Budget 2024, tax on buyback of shares transactions executed on or after 1st October 2024 shall be levied in the hands of shareholders, and not on the company.
