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Income Tax : Bangalore ITAT held that the Revenue cannot deny the fifth-year deduction under Section 35D after consistently allowing the claim ...
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 : 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 : Mumbai ITAT held that maintenance charges and other collections received exclusively from members of a co-operative society are ex...
Income Tax : ITAT Mumbai ruled that additions under Section 69 cannot be sustained merely on suspicion when the entire property investment is s...
Income Tax : The Tribunal ruled that information from the Sales Tax Department and generic statements of alleged hawala dealers are insufficien...
Income Tax : Additions made by attributing the commission income earned by PSPL as undisclosed income of the Assessees were held unsustainable ...
Income Tax : The High Court held that merely issuing a notice is insufficient if the assessee is not informed of further developments or given ...
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...
Introduction: The Government of India, under the Ministry of Finance, has recently responded to pertinent questions in the Lok Sabha regarding tax evasion, particularly focusing on the evasion of TDS. The queries address concerns related to the disbursement of lottery prizes, potential amendments to tax laws, and actions taken against lottery distributors involved in GST […]
Explore the challenges faced by taxpayers due to TDS defaults linked to inoperative PANs. Understand the issues, resolutions, and potential solutions to this tax dilemma.
Join our FREE webinar and learn how India can achieve a fairer and more efficient tax system for all. Low tax collection rates, alarming debt position and untapped potential of digital transactions will be discussed!
ITAT Delhi while quashing the revisionary order passed by the Ld. Pr.CIT held that, mere non-deposit in the capital gains scheme account cannot be the basis to deny deduction u/s 54/54F when the LTCG amount had duly been reinvested within the time allowed under 54(1) and that a hyper-technical/perfectionists point of view cannot the basis to assume revisionary jurisdiction.
Read about the Kerala High Court’s decision to set aside an IT order and allow rectification of income tax returns for assessment year 2016-17.
Explore reality of startup deductions & Tax Illusion they create in Indian economy with Startup India Initiative. Discover dedicated team managing many programs & governing initiative with this post.
Learn about Section 147 to 153 Income Escaping Assessment and Reopening of Cases Under Income Tax Act, 1961. Get guidance on the procedure and legal rules applicable.
ITAT Mumbai’s order on Runwal Constructions vs DCIT: Addition of notional ALV on unsold flats held as stock-in-trade deleted. Detailed analysis and outcome provided.
While calculating eligible limit of 1000 sq. ft. for deciding allowbility of section 80IB(10) deduction, floor bed area, which is open to sky and not covered by any sides and outside balcony area, which is below floor level cannot form part of constructed area of flat.
In a recent decision, ITAT Mumbai allows Section 80G deduction on CSR expenses for Rustomjee Realty Pvt Ltd, challenging the disallowance by ACIT.
