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Income Tax : The Income-tax Act, 2025 continues the old specified professions framework without addressing longstanding classification issues. ...
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 : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
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 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 incomplete document recovered from an employee's laptop could not justify an addition under Section 69 w...
Income Tax : The ITAT held that once registration under Section 12AB was ultimately granted on the basis of the original application, the doctr...
Income Tax : The ITAT Chennai ruled that funds received by a Chartered Accountant for remitting clients' taxes could not be treated as unexplai...
Income Tax : ITAT Mumbai held that appellate forums can entertain additional claims even without a revised return. The matter was remanded to t...
Income Tax : The Telangana High Court held that recovery proceedings under Section 226(3) cannot automatically extend to a daughter's bank acco...
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...
Delhi High Court held that proviso to section 10(38) of the Income Tax Act doesn’t mean that if gains are not included as book profits u/s. 115JB, the same are liable to be included as income for purpose of assessment of tax under normal provisions.
It is the case of the assessee that it has not been provided with the opportunity of being heard before the Ld. AO/CPC, Bangalore while passing an order under Section 154/153(1) and additions were made due to inadvertent mistake of the tax auditor in both the employer and employee’s contributions. Actual due date of the salary should have been verified by the CPC/A.O.
In a recent ruling ITAT Delhi relied upon the binding precedent of the Hon’ble Supreme Court of India in the case of CIT vs. Subros Educational Society, (2018) 96 taxmann.com 652 (SC) in deciding that the set off of accumulated deficit is allowable.
In the matter abovementioned ITAT referred to the AO to examine the allowability of the claim u/s 11 of the Act in view of the decision of the Hon’ble Apex Court in the decision of ACIT Vs. Ahmedabad Urban Development Authority, (2022) 449 ITR 1 (SC).
Assessment completed u/s. 143(3) r.w.s. 144 for AY 2010-11 after making of addition of Rs. 36,092/- on account of wrong claim of deduction u/s. 24 and Rs. 23,43,705/- was also disallowed on account of unexplained cash credit u/s. 68 of the Act, Rs. 24,22,305/- on account of unaccounted receipts from Shiva Phrama Ltd. and Rs. 2,06,883/- on account of unaccounted receipts received from various companies.
ITAT Ahmedabad held that revisionary proceeding under section 263 of the Income Tax Act quashed since enquiry already conducted by AO during the course of assessment proceedings. Accordingly, appeal allowed.
ITAT Ahmedabad held that the interest earned on the investment made with the Coopearitve Society which was carried out the banking business is eligible for deduction under section 80P(2)(d) of the Income Tax Act.
Income tax exemption for Karnataka State Horticulture Development Agency on grants, horticulture revenue, and interest. Applicable for FY 2020-2021 to 2023-2024.
Income Tax exemption notification for Rabindra Setu, Kolkata, detailing income categories, conditions, and retrospective effect for assessment years 2019-2020 to 2023-2024.
Lotus Herbals Private Limited Vs Employees’ Provident Fund Organization And Ors. (Delhi High Court) Delhi High Court addressed a petition filed by Lotus Herbals Private Limited challenging a notice under Section 7A of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, issued by the Employees’ Provident Fund Organization (EPFO). The petitioner contended that the […]
