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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 invocation of revisionary proceedings under section 263 of the Income Tax Act merely taking second opinion unjustified. Further, view taken by AO cannot be set aside or deferred as per provisions of section 263.
Supreme Court’s verdict on Section 148 notices raises uncertainty in 90,000 cases. Learn its impact on assessment and pending tax proceedings.
Section 79 of the Income Tax Act focuses on beneficial ownership, affecting loss carryforward during shareholding changes. Learn its significance in tax matters.
The Vivad Se Vishwas Scheme 2024 simplifies tax dispute resolution, offering discounts and waivers to reduce litigation burden. Settle disputes before Dec 31, 2024.
The Madras HC directs Tamil Nadu’s prison department to guarantee that undertrial prisoners can meet and communicate freely with their lawyers.
Learn how to compute the perquisite value of rent-free accommodation under Section 17 of the Income Tax Act, including recent rule changes and effective dates.
ITAT Jaipur held that provisions of 68 as such are not applicable on the sale transactions recorded in the books of accounts because the sale transaction are already part of the income which is already credited in statement of profit & loss account.
ITAT Surat held that considering the veracity of evidence, additional evidence filed by the assessee is essential and has direct bearing on all the additions/ disallowance, hence, all the additional evidence are taken on record. Accordingly, matter restored back.
Gujarat High Court held that application filed u/s. 119(2)(b) of the Income Tax Act should be considered without adopting any pedantic technical approach. Accordingly, belated return filing permitted by exercising powers u/s. 119(2)(b).
ITAT Kolkata held that allotment letter given by the developer to the assessee way back in 2010 would be construed as an agreement of purchase between the developer and the assessee. Thus, addition u/s. 56(2)(vii)(b) of the Income Tax Act not survived.
