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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...
Supreme Court clarifies the applicability of TOLA to reassessment notices under the Income Tax Act, addressing the interplay with Finance Act, 2021.
Penny stocks, often associated with small, illiquid companies, have been a subject of concern due to their susceptibility to price manipulation. The Income tax Act, 1961, contains provisions such as Section 68 (Unexplained Cash Credits) and Section 10(38) (Exemption on Long Term Capital Gains LTCG) to prevent tax evasion through sham transactions involving these stocks.
Section 87A tax rebate on STCG led to disputes after ITD software changes. Bombay HC & CIT(A) rulings clarify eligibility. Learn about legal and tax implications.
ITAT Jaipur’s ruling on Kailash Chand vs ITO case, analyzing tax assessment, additions, and legal compliance under Section 144 & 147 of the Income Tax Act.
ITAT Jaipur sends Puneet Singhvi’s capital gains case back to the Assessing Officer for a fresh review after the assessee failed to appear in earlier proceedings.
While a best judgment assessment can involve some arbitrariness, it must be an honest and fair estimate based on available material and circumstances, not capricious.
ITAT Jaipur sets aside Resonance Eduventures assessment orders, citing mechanical approval by Addl. CIT without proper application of mind as mandated under Section 153D.
ITAT Jaipur ruling on Parshavnath Buildestate Pvt Ltd vs ACIT regarding unexplained expenditures under Section 69C and taxation under Section 115BBE of the Income Tax Act.
ITAT Jaipur addressed tax deductions under Sections 54F & 54B in Kuldeep Singh Shekhawat vs. ITO, ruling on belated filings and capital gains exemptions.
ITAT Jaipur addresses depreciation, loan interest, business promotion, and salary expense disallowances in Ahluwalia Erectors case. Read key judgments and analysis.
