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Income Tax : The proposed Section 147A retrospectively defines the “Assessing Officer” for Sections 148 and 148A, aiming to resolve High Co...
Income Tax : TAN requirement removed and PAN-based challan introduced for resident buyers purchasing property from non-residents, easing compli...
Income Tax : The Bill seeks retrospective validation of assessment orders despite DIN-quoting errors. Assessments linked to a lawfully generate...
Income Tax : The article explains how violating the twin conditions under Section 50C(2) can block valuation relief and trigger taxation on hig...
Income Tax : This article explains how residential status governs whether global income or only Indian income is taxable. It clarifies the clas...
Income Tax : Net direct tax collections grew 9.40% as of 10 February 2026 compared to last year. Lower refunds and steady corporate and non-cor...
Income Tax : The Finance Ministry clarified that December 2025 messages were part of a data-driven NUDGE compliance campaign. Over 1.11 crore r...
Income Tax : The Government stated that representations on own merit promotions are examined regularly as per existing rules, with no separate ...
Income Tax : The Government confirms a higher rebate under the new tax regime, ensuring no tax up to ₹12 lakh and outlining revised slabs eff...
Income Tax : The Government clarified that the new income tax search provision does not expand powers or permit AI-based digital surveillance, ...
Income Tax : ITAT upheld revision under Section 263 after finding that the AO failed to verify the taxability of ₹669 crore received by a tru...
Income Tax : The Tribunal clarified that even where the assessee owns more than ten trucks, Section 44AE can be used as a fair yardstick for in...
Income Tax : The Tribunal held that taxing total gross winnings without examining expenditure and loss components violates principles of fairne...
Income Tax : The Tribunal ruled that incorrect computation of opening and closing stock during survey cannot justify full addition. Only the re...
Income Tax : Where more than three years had elapsed, approval from the higher specified authority was compulsory before issuing notice. Failur...
Income Tax : Explains the CBDT notification granting section 10(46) exemption to a district legal services authority and the categories of inco...
Income Tax : CBDT directs adjournments in court and ITAT cases as Finance Bill 2026 proposes clarificatory amendments to key Income Tax Act pro...
Income Tax : Summary of the Finance Bill, 2026 outlining income-tax rates, surcharge structure, threshold relief, amendments across direct and ...
Income Tax : The Budget 2026 changes overhaul customs duty structures by moving rates into the tariff and pruning exemptions. The key takeaway ...
Income Tax : The government has granted time-bound approval under section 35(1)(ii) enabling eligible donations to scientific research to quali...
Understanding the Double Taxation Avoidance Agreement (DTAA) between India and USA. Learn how this tax treaty helps prevent double taxation on income.
The ITAT on the issue of addition under Section 68 observed that in the impugned Assessment Order, the AO has passed the impugned Assessment Order in a hurried manner even without pointing out any defect or discrepancy in the evidences and details furnished by the assessee. Therefore, additions under Section 68 were ordered to be deleted.
ITAT Jaipur held that since the intimation under section 143(1) of the Income Tax Act, 1961 is not reflected in the online system, there cannot remain any consequent grievances on account of the said intimation.
ITAT Delhi held that initiation of reassessment proceedings without applying his mind based only on the sole reason that as per AIR information assessee has deposited cash in his savings bank is without authority of law.
Weather unclaimed deduction can be claim before assessing authority without filing revised return and weather power of appellate authority can allow claim of duction which was not claimed in return of income.
Malwa Coop. L & C Society Ltd. ITO (ITAT Amritsar) In this case Hon’ble ITAT already determined the turnover, and the direction was made accordingly. Also related to deduction u/s 80P(2)(a)(vi) specific direction was made by the Hon’ble ITAT in its order dated 13.10.204 in ITA No. 483/Asr/2014. ITAT heard the rival submissions and relied […]
The general prudence of the law is that the same income cannot be taxed twice. On other hand, the partners are not liable to pay tax on the remuneration which was already paid by the firm in its return of income.
Income Tax Reassessment invalid if A.O having jurisdiction over the case of the assessee had failed to obtain the requisite sanction u/s 151 of the Act from the Pr. CIT qua his ‘reasons to believe’
Assessing authority had passed the order beyond his jurisdiction by calculating the cost of acquisition on basis of his own assumption.
Explore the provisions of Section 270AA, offering a strategic avenue for assessees to avoid penalties for under-reporting or mis-reporting of income. Learn about the conditions, application process, and the responsibility of the revenue to guide assesses through this insightful article.
