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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...
Court rules income from white button mushroom cultivation under controlled conditions qualifies as agricultural income, exempt from tax, emphasizing ‘soil’ as ‘land’ and purpose over strict classification.
The Gujarat High Court invalidated a tax reopening notice against Hemanshu Ramniklal Shah, ruling it was based on a “change of opinion” rather than new material, after the original assessment was already scrutinized.
Karnataka High Court rules Ace Designers’ write-off of foreign subsidiary investment is a business loss, not capital loss, citing commercial expediency.
ITAT Delhi overturns Rs. 74 lakh penalty on Singh Consultancy. Notice ambiguity in Section 271(1)(c) proceedings deemed fatal, reinforcing clarity in tax charges.
CBDT’s 2024 circular allows delayed ITR filing under Section 119(2)(b). Learn step-by-step filing process, eligibility, and offline return submission rules.
The assessee is public charitable trust established vide trust deed dated 1st September 2024 with the stated object to build, restore, renovate, and maintain places of worship, historical monuments, pilgrimage sites, and public places of faith and belief.
Central Government notifies Greater Noida Industrial Development Authority under Income Tax Act, 1961, Section 10(46A), effective AY 2024-25.
Since the assessments were completed in the case of assesee and there was no incriminating material found during the search in the case of the assessee, the additions made under Section 153A were unsustainable.
ITAT Mumbai recently ruled on the taxability of enhanced compensation received under interim court orders, clarifying Section 45(5)(b) of Income Tax Act.
Geecee Ventures Limited Vs DCIT (ITAT Mumbai) Income Tax Appellate Tribunal (ITAT) Mumbai, in the case of Geecee Ventures Limited Vs. DCIT, has delivered a significant ruling on two key areas of income tax law: the allowance of deduction under Section 80-IA and the computation of disallowance under Section 14A. The decision, pronounced on May […]
