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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 Telangana High Court held that recovery proceedings under Section 226(3) cannot automatically extend to a daughter's bank acco...
Income Tax : The Court held that an employer acting in accordance with interim judicial directions restraining TDS deduction cannot be treated ...
Income Tax : ITAT Ahmedabad held that a bank could not be treated as an assessee in default for non-deduction of TDS on LFC payments when it ac...
Income Tax : The Telangana High Court held that an assessee cannot file an updated return under Section 139(8A) once assessment proceedings hav...
Income Tax : The Department argued that Section 292BC validated the approval despite alleged deficiencies, but the Tribunal rejected this conte...
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 the addition under Section 69A of the Income Tax Act made without proper examination of the books of account and relevant financial records unjustified. Accordingly, order set aside and matter restored back.
ITAT Mumbai held that depreciation under section 32 of the Income Tax Act on the right to collect toll on the roads developed on BOT basis is not eligible.
The Tribunal reiterated that the PCIT cannot expand the scope of assessment beyond the reasons recorded by the AO during the reassessment process. Thus, any claims regarding non-verification of the other issues raised by the PCIT could not justify overturning the AO’s assessment.
Recent Chennai ITAT decisions address unexplained income, underreporting, and penalties under Sections 69A, 68, 270A, and 271. Key cases provide insights into tax disputes.
Kerala High Court held that the “interest income” on the short-term deposits of the funds infused by the Government are in the nature of “capital receipt” and not “revenue receipt” and hence the same are not taxable as ‘income from other sources’.
Madhya Pradesh High Court held that it is settled law that for the fault of the counsel, the litigant should not be made to suffer. Thus, petition allowed with a suggestion to counsel for the applicant to invest one hour of community service while visiting Mercy Home.
Learn the financial penalties of TDS/TCS non-compliance, including interest and disallowance. Prevent errors by managing deadlines and ensuring accurate tax filings.
Karnataka High Court grants another opportunity to C.T. Raghu to submit documents after his Tax Audit Report was rejected for unsigned schedules and annexures.
The Karnataka High Court, upholding the ITAT’s order, reiterated that discounts on the issuance of ESOPs are allowable deductions under Section 37(1) of the Income Tax Act, in line with the decision in Biocon Ltd.
ITAT Ahmedabad held that the severance compensation received by the employee is a capital receipt and the same is not chargeable to tax under Section 17(3) of the Income-tax Act, 1961.
