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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...
ITAT Delhi held that foreign share holding duly disclosed with Income Tax Department and hence the same cannot be taxed under the Black Money Act. Accordingly, order of CIT(A) upheld and appeal of revenue dismissed.
ITAT Kolkata allows Farseen Rubber Industries’ Rs 1 Cr compensation to JK Tyre, ruling it a commercial expense, not an offense under Section 37.
ITAT Kolkata dismisses revenue appeal in DCIT vs Ripley & Co. Ltd., affirming demurrage and penalty charges as allowable business expenses, not penal, citing key judicial precedents.
Gujarat High Court sets aside Section 148 notice and assessment for AY 2013-14 in Shilp Realty case, citing lack of independent application of mind and non-speaking order on objections.
ITAT Indore rules excess stock surrendered during survey by Suresh Aluminium is business income, not unexplained, directing normal tax rates. Cites key precedents.
Punjab & Haryana HC rules CIT cannot direct penalty initiation via Section 263, reinforcing independence of assessment and penalty proceedings.
Gujarat HC sets aside reassessment for Krupesh Thakkar. AO incorrectly invoked Sec 2(22)(e) for a loan assessee gave, not received from Rushil Decor Ltd.
The Madras High Court dismissed the Revenue’s appeal regarding the set-off of brought forward business losses against capital gains, citing prior judgment.
Madras High Court upholds invalidity of reassessment in CIT v. Schwing Stetter India P. Ltd., reinforcing change of opinion doctrine and assessee disclosure.
Madras High Court sets aside reassessment notice against Asianet Star Communications, citing non-existent entity and lack of new material.
