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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 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 : ITAT Hyderabad held that dismissal of an appeal under section 249(4)(b) was unjustified where the assessee claimed that the receip...
Income Tax : The Tribunal ruled that premium rooms, higher tariffs, and specialized medical facilities cannot by themselves establish a profit ...
Income Tax : The ITAT Delhi held that free tickets, hospitality, conveyance, goods, and lodging expenses attracted Fringe Benefit Tax under the...
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 held that reopening of assessment u/s. 147 on the issue which is already dealt in the original assessment void ab initio and bad in law since no new fresh material was pointed out at the time of reopening of assessment.
In my view, having regard to the facts and circumstances, the statutory authority was bound to afford a personal hearing to the petitioner through video conferencing as mentioned above. The result of this infraction would be that the impugned orders will have to be set aside.
Re-assessment was completed u/s 143(3) r.w.s 147 of the Act on 29.06.2019 and the deduction of Rs.24,48,040/- claimed u/s 80P in respect of interest income from The Sabarkantha District Cooperative Bank Ltd. was disallowed by the AO.
The application preferred by the petitioner for recall of the said order was also rejected by the Supreme Court vide order dated 25.10.2019. It is thereafter that petitioner-assessee preferred a review petition.
Absence of adherence to procedure laid down in Section 144B of Income Tax Act render the assessment order patently illegal: Bombay HC in Teerth Developers And Teerth Realties JV (AOP) Vs Additional/ Joint/Deputy/ ACIT/ ITO
A search was conducted on the premises of the Assessee on 17.10.2000 and a debit card of the overseas bank – Barclays Bank, PLC St.40, Birmingham, London, United Kingdom was found in the joint name of the Assessee and his wife (Smt. Jyoti Jaggi).
Punjab & Haryana HC invalidates SCN under Section 148 of the Income Tax Act due to the absence of faceless assessment mandated under Section 144B.
Learn how to determine the residential status for individual taxpayers in India under Income Tax Act 1961, including ROR, RNOR, and NR categories.
Orissa High Court rules against revenue for denying rectification due to alleged time bar, emphasizing lack of primary evidence of service on the petitioner.
Held that the requirement of ensuring uniformity and consistency in tax assessments cannot be overlooked, especially while categorizing the nature of the activity carried on by an assessee to earn its income for the purposes of taxation.
