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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 Tribunal held that an inadvertent mistake in Schedule 112A relating to the acquisition period of mutual fund units could be re...
Income Tax : The Court held that reassessment proceedings cannot be sustained merely on the basis of an unsigned and unauthenticated loose pape...
Income Tax : ITAT Delhi set aside the assessment after finding that the assessees additional evidence had not been properly scrutinized by the ...
Income Tax : The Tribunal held that delayed filing of Form 10-IC should not defeat the assessee's substantive right to opt for the concessional...
Income Tax : The Tribunal held that deduction of tax under Section 194J cannot automatically classify receipts as professional income. Tax auth...
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 Ahmedabad dismisses appeal of Nihar Prabhatbhai Desai as withdrawn following application under Vivad Se Vishwas Scheme 2024.
ITAT remands a capital gains addition of Rs.1.81 crore in Aastha Educational Society case to CIT(A) for re-examination and adjudication.
ITAT Delhi reduces unexplained cash deposit addition under Section 69A to ₹2.5 lakh for AY 2017-18 due to partial explanation of sources by the taxpayer.
Finally, ITAT observed that it is not clear from the order of CIT(A) whether any specific notices on specified dates have been issued to the assessee or service of the notices were properly done or not. CIT (A) did not decide the case on merits.
Delhi High Court quashes reassessment proceedings for IBIBO Group for AY 2015-16, following the Taxation Laws Relaxation Act.
Under Section 147 of the Income Tax Act, reassessment cannot be based on a mere change of opinion by the AO. Read more on this legal limitation.
In the matter above-mentioned ITAT resored the matter to CIT (A) who did not provide opportunity of being heard by way of video conferencing despite request.
It was argued on behalf of the assessee that the action of AO amounts to a double addition as the claiming of Capital Gains was accurately tendered in the Return of Income.
ITAT Delhi clarifies tax treatment for Motricity India: No levy on notional income or closure costs. Insights on Transfer Pricing adjustments and ALP determination.
Double taxation of dividends burdens investors, deterring equity investments. Budget 2025 may reform rates to enhance economic efficiency and attract investment.
