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Income Tax : The Supreme Court dismissed the Revenue's review petitions and reiterated that payments for off-the-shelf software do not constitu...
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 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 : ITAT Ahmedabad held that a protective addition cannot be deleted merely because a substantive addition has been confirmed at the f...
Income Tax : The Tribunal held that a 12.5% disallowance could not be sustained when the Assessing Officer neither rejected the books of accoun...
Income Tax : Despite a significant gap between the agreement and registration dates, ITAT granted relief under the first and second provisos to...
Income Tax : The ITAT Bangalore upheld deduction of ESOP expenditure under Section 37, holding that the liability arising from employee stock o...
Income Tax : The ITAT Delhi held that cash deposits during the demonetization period could not be treated as unexplained credits when they orig...
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...
Anticipated income tax changes in Budget 2025 include simplified laws, revised slabs, TDS reforms, and equitable taxation for individuals, corporates, and trusts.
Assessee was engaged in the business of manufacturing of diamond by cutting and polishing of rough diamond and sale thereof. During assessment, Assessing Officer noted that assessee has made 20 transactions of foreign remittance.
In the instant case, assessee had not filed any return within stipulated time framed u/s 139(1), but had filed the return u/s 139(8A) (updated return) on 31.03.2023 along with Form 67 filed online on the said date claiming FTC.
ITAT Bangalore held that penalty under section 271D of the Income Tax Act not imposable for acceptance of cash on transfer of agricultural land as non-compliance with section 269SS of the Income Tax Act was due to bonafide belief.
ITAT Kolkata held that addition under section 68 of the Income Tax Act rightly deleted by CIT(A) since assessee duly established identity and creditworthiness of the investors and genuineness of the transactions.
The petitioner no.1 was the erstwhile company that went through insolvency proceedings. The resolution plan was approved on February 24, 2021 wherein the Income Tax Department had also put forward its claim before the resolution professional.
Income-tax Amendment Rules 2025 defines tax provisions for non-resident cruise operators under Section 44BBC, detailing conditions for ship operations in India.
Explore the impact of OECD Two-Pillar tax rules on Indian MNEs. Key changes include taxing profits where value is created and a global 15% minimum tax rate.
Filing of Form 10CCB required for claiming deductions under Section 80IA before the due date for filing of return of income u/s 139(1) was only directory and not mandatory for the year under consideration.
Delhi HC dismisses PCIT appeal in Karina Airlines case, ruling amendments to Section 153C of the IT Act do not apply retroactively to pre-2017 searches.
