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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 enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Ministry of Law and Justice.
ITAT Surat rules penalty under Section 271(1)(c) not sustainable where income addition is based on estimation of bogus purchases.
Delhi High Court dismisses B.U. Bhandari firm’s plea for late ITR filing; vague medical grounds and lack of evidence cited for rejecting Section 80IB benefit.
Supreme Court sets aside High Court ruling in S.M. Overseas tax case, restores ITAT order on reassessment under Sections 147/148 of Income Tax Act.
ITAT Mumbai rules on ITO vs. Vaman International P. Ltd., addressing additions under section 69C for disputed purchase transactions.
Delhi High Court reviews PCIT vs. Param Dairy Ltd., addressing additions under Section 69C & 40A(3) for cash milk purchases.
Orissa HC dismisses Revenue appeal in CIT vs Dhaneswar Rath. Upholds ITAT, rules Sec 263 revision invalid based on consistency & prior allowance of depreciation.
Gujarat High Court upholds ITAT ruling in PCIT vs Shreeji Prints, rejecting revision under Section 263 over inquiries into unsecured loans.
Changes in TDS deductions under Finance Act 2025 include revised thresholds for Sections 194A, 194H, and 80CCA. Effective from April 1, 2025.
Did you know that failing to disclose your foreign assets in your Income Tax Return (ITR) can lead to penalties of up to ₹10 lakh per year? Understanding the intricacies of reporting foreign income and assets is crucial for every Indian resident to ensure compliance and avoid hefty fines.
