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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...
ITAT Hyderabad held that revision under section 263 of the Income Tax Act justified as consistency not followed in treatment of foreign exchange gain/loss amounts to error in sofar as it is prejudicial to the interest of revenue.
ITAT Mumbai held that denial of exemption under section 54 of the Income Tax Act unjustified as appellant cannot be penalized for the mistake committed by the developer/seller in allocating the flat. Thus, exemption u/s. 54 granted as all the conditions satisfied.
Learn the differences between the old and new tax regimes in India. Discover which scheme suits your financial needs best with this comprehensive guide.
Bombay High Court held that as per section 14A of the Income Tax Act any expenditure incurred in relation to any income which is not included in total income would not be allowed as expenditure. Thus, interest on borrowed funds used to earn dividend which is exempt from tax cannot be allowed as expenditure.
ITAT Delhi held that in absence of mentioning the date of handing over of material, date of satisfaction note shall be considered for the purpose of assumption of jurisdiction u/s 153C of the Act and completion of assessment thereafter.
ITAT Delhi held that once the reassessment order passed by AO is not sustainable in the eyes of law, any revision order passed u/s. 263 of the Income Tax Act seeking to revise such reassessment order cannot be accepted in the eyes of law. Accordingly, revision order passed u/s. 263 quashed.
Trinity Global Enterprises Ltd. vs. ITO: No disallowance under 40A(2) for supervision and risk management charges. Detailed analysis and conclusions provided.
ITAT Delhi directs deletion of derivative loss addition, ruling that proper banking channel payments were made. Details of the case explained here.
In a landmark ruling, the Calcutta High Court exempts tea saplings from Bengal Agricultural Income Tax Act. Learn the detailed analysis of Gouranga Parbati Tea Co. Pvt. Ltd. Vs. Agricultural Income Tax Officer & Ors.
Pragati Power Corporation Ltd vs ACIT (ITAT Delhi) case: Analysis of ITAT decision allowing deduction under section 80IA without offsetting losses from other Industrial Units.
