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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...
Accordingly, the Petitioner preferred an application u/s. 119(2)(b) of the Income Tax Act, 1961 on 23.03.2020, seeking condonation of delay in filing the return of income for Assessment Year 2017–18, with a view to claiming refund of the TDS amount.
Assessee – real estate developer was engaged in the business of construction of residential units / bungalows which were duplexes surrounded by a compound wall. Each residential unit consisted of a portico and an open terrace.
Patna High Court dismisses prosecution against Sonali Autos for delayed TDS deposit, citing reasonable cause and compliance with CBDT instructions.
Assessee then filed an appeal before Tribunal. It was held that assessee had included net gain of ₹17.02 crore from foreign currency transactions and translations in its operating income, but DRP had rejected the claim.
Madras HC quashes reassessment notices due to lack of new material. Court rules that profit and loss accounts don’t qualify as books of account under Income tax laws.
ITAT Pune allows Mahanagar Constructions’ appeal, ruling that notional rental income from unsold flats held as stock in trade cannot be taxed as ‘Income from House Property’ for AY 2014-15, citing judicial precedents.
ITAT Mumbai allows Section 54F deduction for Anant R Gawande, clarifying joint ownership and property acquisition for capital gains exemption.
ITAT Chennai held that passing of rectification order under section 154 of the Income Tax Act held to be not sustainable since reasonable opportunity of being heard was not granted specifically when rectification resulted into enhancement of an assessment.
Karnataka High Court held that co-operative society registered under Karnataka Souharda Sahakari Act, 1997 is not required to deduct TDS on interest payments made to its members as per provisions of section 194A(3)(v) of the Income Tax Act.
ITAT Kolkata held that dividend distribution tax u/s 115-O of the Act and interest u/s 115P of the Income Tax Act is applicable only to a domestic company and since appellant is a co-operative society and provisions of section 115-O and 115-P will not be applicable.
