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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 : 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 Kerala High Court condoned a 676-day delay in filing an ITAT appeal after finding that the assessee had bona fide relied on it...
Income Tax : The Chennai ITAT ruled that indexation benefits under Section 48 cannot be denied when construction details are already part of th...
Income Tax : The Tribunal observed that reliance on third-party statements without providing cross-examination rendered the additions legally u...
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...
Calcutta High Court judgment on Girdhar Gopal Dalmia vs. Union of India, clarifying that objection rejection doesn’t conclude reassessment or demand. Full analysis included.
Confusion around Income Tax Section 36(1)(viia) and its applicability to cooperative societies. Judicial views, distinctions and unresolved debate on Section 36(1)(viia)
ITAT Mumbai held that Arm’s Length Price (ALP) of guarantee commission was determined at the rate of 0.3523% instead of 1.25%.
ITAT Mumbai held that unsold flats which are in stock in trade should be assessed under the head “business income” and there is no justification in estimating the rental value from those flats and notionally computing annual letting value under section 263 of the Act.
Section 138 notification under Income-tax Act 1961. Learn how UIDAI plays a crucial role in disclosing information about assessees. Stay informed with this update.
ITAT Pune held that initiation of revisionary proceedings under section 263, based only on the proposal sent by AO for making revision, lacked jurisdiction and hence revisionary proceedings liable to be set aside.
Gujarat High Court held that initiation of penalty proceedings u/s 271(1)(c) of the Income Tax Act in the absence of any material to establish the concealing of income or furnishing inaccurate particulars unsustainable-in-law.
ITAT Chennai held that addition u/s. 2(22)(e) towards amount received by shareholder company treating debit balance as deemed dividend unsustainable as debit balance was only because of an inadvertent error and the same was squared off within short period.
Bombay High Court held that assessment order passed by Faceless Assessing Officer (FAO) two years after the Dispute Resolution Panel (DRP) directions, is time barred and cannot be sustained.
Jharkhand High Court held that initiation of prosecution proceedings under section 276CC of the Income Tax Act in absence of any demand, as demand adjusted against refund, is bad-in-law and liable to be set aside.
