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Income Tax : The article explains how accurate Form 10BD reporting protects donor deduction claims, prevents penalties, and ensures consistency...
Income Tax : The article explains what remains unchanged under the new tax law while highlighting critical compliance checks taxpayers should u...
Income Tax : AO rejects books of accounts and applies flat net profit rate. Can taxpayer claim depreciation separately or is it embedded in tha...
Income Tax : The article highlights common return filing errors, including wrong ITR forms and income mismatches, that can result in defective ...
Income Tax : The ITAT Bangalore held that no disallowance under section 14A read with Rule 8D can be made where the assessee did not earn exemp...
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 Court held that transferring assessment proceedings under Section 127 was justified to facilitate coordinated investigation in...
Income Tax : The Court held that transfer of assessment proceedings to Delhi was justified where connected cases had already been centralized f...
Income Tax : The Hyderabad Bench emphasized that penalty under Section 271(1)(c) cannot be imposed solely because an addition survives appellat...
Income Tax : The Hyderabad ITAT observed that if a property is treated as stock-in-trade, the applicability of Section 43CA cannot be ignored. ...
Income Tax : The Tribunal quashed the reassessment after finding that the Assessing Officer failed to issue notice under Section 143(2). The de...
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 held that revisionary proceedings under section 263 of the Income Tax Act justified since PCIT correctly observed that the very basis of disallowance of depreciation was on an incorrect understanding of the facts by AO. Accordingly, revision order upheld.
ITAT Delhi held that claim of interest u/s. 24b of the Income Tax Act was duly examined during original as well as reassessment proceedings. Thus, the plausible view having been taken by the AO cannot be held to be prejudicial to the interests of Revenue.
ITAT Mumbai held that denial of exemption under section 54 of the Income Tax Act on account of non-utilization of consideration not justified as utilization done within extended time limit for making the investment under the TOLA. Accordingly, exemption u/s. 54 granted and appeal allowed.
ITAT Raipur set aside ex-parte order passed by CIT(A) since the reason for non-compliance by the assessee before CIT(A)/NFAC was that the hearing notices have been sent in the wrong email id by the department. Accordingly, matter of accommodation entries remanded back to CIT(A).
ITAT Raipur held that in case of bogus/ sham transactions it is the responsibility of revenue authorities to investigate and decide that whether bogus transactions fall within the category of tax planning or tax evasion. Accordingly, matter restored back to AO for fresh consideration.
Ministry of Finance notifies IREDA bonds issued post-July 9, 2025, as long-term specified assets under Section 54EC for income tax exemption.
A guide for residents buying property in India from non-residents. Understand TDS under Section 195, payment modes, and legal compliance to avoid penalties.
Bangalore ITAT cancels reassessment proceedings against Amit Kumar Banthia (HUF) due to the Assessing Officer’s failure to follow mandatory procedures.
SC issues notice in SLP challenging Bombay HC’s rejection of COVID-19 limitation benefit in IT appeal under Section 254(2) of the Income Tax Act.
ITAT Chennai holds reassessment notice under Section 148 for AY 2013–14 as time-barred, relying on Supreme Court’s ruling in Rajeev Bansal and other precedents.
