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Income Tax : This comprehensive FAQ explains the TDS provisions applicable for AY 2026-27, including rates, thresholds, compliance obligations,...
Income Tax : Learn how Section 161 of the Income-tax Act, 2025 establishes the arm's length principle for international and specified domestic ...
Income Tax : Learn why taxpayers must deposit unutilized capital gains into a Capital Gains Account Scheme (CGAS) before the ITR due date to pr...
Income Tax : This FAQ guide explains the applicability of ITR forms, filing methods, due dates, penalties, and taxpayer obligations for AY 2026...
Income Tax : This guide explains how taxable income and tax liability are computed under the Income-tax Act, from Gross Total Income to the fin...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
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 : The ITAT Delhi held that the Revenue could not substitute the assessee's consistent method of revenue recognition with the Percent...
Income Tax : The Gujarat High Court quashed the reinitiated penalty proceedings after the Assessing Officer failed to pass a fresh order within...
Income Tax : The Gujarat High Court held that once the Resolution Plan was approved under Section 31 of the IBC, all tax liabilities not formin...
Income Tax : ITAT Ahmedabad held that the Transactional Net Margin Method (TNMM) remained the most appropriate method as there was no change in...
Income Tax : The Gujarat High Court set aside the reassessment after finding that the Assessing Officer failed to provide specific reasons for ...
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...
This question is regarding filing of audit report in form 10CCB. If it is not filed alongwith return but filed before assessment, will it amount to non-compliance of Section 80IB (13) read with Section 80IA (7).
Provisions of section 10(5) of were introduced in order to motivate the employees and also to encourage tourism in India and, therefore, the reimbursement of LTC/LFC was exempted, but, there was no intention of the Legislature to allow the employees to travel abroad under the garb of benefit of LTC available by virtue of s.10(5) […]
Issue of validity of reassessment proceedings is a jurisdictional issue. It goes to the root of the matter. The Tribunal ought to have examined the ground no.3 raised in the assessee’s appeal on its merit without being prejudiced by the facts that the reassessment order has been passed on the exparte basis in which the proceedings the assessee has not objected to the initiation of the reassessment.
Assessing Officer to compute the disallowance as per Rule 8D by taking into consideration only those shares, which have yielded dividend income in the year under consideration.
Extinguishment of liability of the Reserve Bank in respect of any specified currency note under section 3 of the Act of 2017 is subject to a direction issued by a Court of law permitting a person to hold on to specified currency notes in connection with a pending proceeding and the Bank cannot deny its liability in such cases if the said person deposits the specified notes in the Bank after the appointed date with leave of the Court.
The division bench of the Mumbai Income Tax Appellate Tribunal (ITAT), in Lemes E. D’ Souza v. ITO, held that benefit of Investing in NHAI/ REC Bonds under section 54EC of the Income Tax cannot be denied to the assessee merely for the reason that the investment was made beyond 6 months from the date of transfer.
In the present case, the assessee was not having any trust deed. So it is quite difficult for the ld. Commissioner to arrive at a firm conclusion about the objects of the trust. In case the trust deed is being written after application for grant of registration, then that deed can never be seen through by the ld. Commissioner for satisfying himself.
Provisions of Section 50 (2) of the Act would apply to a case where the assessee transfers one or more block of assets, which he was using in running of his business. Such is not the case here because in this case, the assessee sold the entire business as a running concern.
HC held that denial of benefit of waiver of crop loans to the farmers who had cultivated lands exceeding 5 acres is a clear discrimination violating Article 14 of the Constitution of India.
1. This appeal under Section 260 A of the Income Tax Act, 1961(the Act) assails the order dated 31st October, 2012 passed by the Income Tax Appellate Tribunal (Tribunal). The impugned order relates to Assessment Year 2006-07 2. This appeal was admitted on 28th January, 2015 on the following substantial questions of law:-
