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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...
The present income tax appeal under Section 260 A of the Income Tax Act, 1961 (hereinafter referred to as the Act) has been filed by the assessee against the order dated 2.3.2009 of the Income Tax Appellate Tribunal, Delhi Bench, New Delhi for the assessment year 1997-98.
Non-appearance of the supplier in absence of any other corroborate evidence cannot be sole basis to justify the stand of the Revenue that a transaction of purchase is bogus
1st proviso to Sec.68 of the Act inserted by the Finance Act, 2012 w.e.f. 1-4.2013 was only prospective in operation, we are of the view that since section 68 covers `any sum credited’ in the books without any exception
It is not in dispute that M/s Annamalaiar Textiles (P) Ltd. did not pay any amount to the shareholders who ultimately got the shares transferred in their names. The respondent was holding 100 per cent shares of M/s Annamalaiar Textiles (P) Ltd., before it was transferred to Group B. No payment was made to the shareholders belonging to Group B and, therefore, the question of there being any capital gains at the hands of the respondent herein does not arise.
It gives me immense pleasure in congratulating you all for accomplishing the Budget Collection Target of Rs. 8.47 lakh Crore for the F.Y. 2016-17, thereby contributing significantly in the revenue mobilisation efforts of the Government for the developmental schemes for public at large.
The Special Judge, CBI Cases, Dehradun has today sentenced Shri Arun Kumar Ranjan, then Income Tax Officer, Rudrapur (Uttarakhand) to undergo ten years Imprisonment with fine of Rs.One lakh.
As per the newly inserted Section 139AA of the Finance Act 2017, if a person covered under this section want to file a return of income on or after July 1, 2017, it will be mandatory for him to quote the Aadhaar number in the return.
We have heard the learned counsel for the parties and perused the impugned order dated 14th December,2005 passed by the High Court of Judicature at Madras. The High Court has dismissed the appeal filed under Section 260A of the Income Tax Act,1961 on the ground that no substantial question of law arises.
Notice under Section 132 of the Income Tax Act, 1961 was issued in the name of a dead person. The said notice was duly received by the present petitioner as the legal heir of the dead person. Notice of assessment under Section 158BC of the Act was issued and in the assessment proceedings
Deduction u/s 54 of the Act is also available even if the land, which was appurtenant to the residential house, is sold and it is not necessary that the whole of the residential house should be sold because the legislature has used the words or which is distinctive in nature.
