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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...
Based on this satisfaction, a separate satisfaction note stood recorded u/s 153C of the Act in the hands of the assessee on 3.10.2022 by AO of the assessee. Hence the date of search in the case of the assessee becomes 3.10.2022 relevant to Asst Year 2023-24.
ITAT Bangalore held that exemption under section 54 of the Income Tax Act allowable based on the amount utilised towards construction of new house property where the construction is not complete.
Notification under section 10(46) of the Income Tax Act, 1961 for National Aviation Security Fee Trust, covering specific income exemptions.
Notification on income tax exemption for Haryana’s District Legal Service Authorities under Section 10(46) for specified incomes and conditions from FY 2023-2024.
Delhi High Court held that revisionary proceedings under section 263 of the Income Tax Act justified in absence of any effective inquiry and total non-application of mind by AO. Accordingly, order passed by AO erroneous and prejudicial to interest of revenue.
Held that the TPO had provided no reasons whatsoever for rejecting the TNMM as the most appropriate method. Thus, the Tribunal has rightly concluded that the TPO’s decision to reject TNMM as the most appropriate method was without reasons.
It is settled position of law that there cannot be any estoppels against the statute. If an income, is not taxable within the four corners of law, then the same cannot be made taxable merely because the assessee has offered the same under misconception of facts and law.
ITAT Bangalore held that amount of employee’s share to ESI and PF paid after due date provide under the respective statutes is liable to be disallowed. Accordingly, matter referred back for limited purpose of verification of payment challans.
ITAT Jaipur held that disallowance of contribution of EPF/ESI of employees contribution justified since amount deposited beyond the due date of respective Acts. Notably, deduction is not allowance even if contribution is deposited before filing of return u/s. 139(1).
Assessee had filed his income tax return on in which he declared a total income of Rs. 35,00,611, accepted under Section 143(1). A subsequent search and seizure operation on Pipavav Defence and Offshore Engineering Co. brought assessee’s finances under scrutiny, as he was allegedly linked to the company.
