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Income Tax : Income may become tax-free under the new tax regime because of the standard deduction and Section 87A rebate, but ITR filing may s...
Income Tax : This article explains the key situations where filing an Income Tax Return is compulsory, even if income is below the basic exempt...
Income Tax : Learn about the income tax benefits available to resident senior and very senior citizens, including higher exemption limits, dedu...
Income Tax : Learn how different types of income tax assessments are conducted under the Income-tax Act. The FAQs explain assessment procedures...
Income Tax : This guide explains the taxation of capital gains, computation methods, capital assets, and transfer provisions under the Income-t...
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 Court held that the assessment and consequential demand could not stand where the petitioner had not participated in the proce...
Income Tax : The ITAT Hyderabad held that the entire sale consideration could not be assessed as short-term capital gains without examining the...
Income Tax : The ITAT Hyderabad accepted the assessee's explanation that supporting documents could not be produced because the accountant was ...
Income Tax : ITAT Pune held that the reassessment proceedings were invalid because the notice under Section 148 was approved by the Principal C...
Income Tax : ITAT held that interest earned by a co-operative credit society from deposits with a co-operative bank remained attributable to it...
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...
Preservation of stem cells by cord blood banks is exempted only w.e.f. February 17, 2014/ Exemption Notification will have prospective effect when nothing specifically mentioned in the Notification as such. Life Cell International (P) Ltd. Vs. Union of India (MADRAS HIGH COURT)
Delhi High Court held In the case of Vishwanath Khanna vs. CCIT that as per section 293, no civil suit lies against the Income Tax Department with respect to any dues claimed from the Income Tax Department if such dues are/can be the subject matter of proceedings under the Income Tax Act.
Delhi High Court held In the case of Johnson Matthey India Pvt. Ltd. vs. DCIT that the purpose of transfer pricing is to benchmark transactions between related parties in order to discover the true price if such entities were unrelated.
Delhi High Court held In the case of Jet Lite (India) Ltd. vs. CIT that the ITAT has rightly pointed out that the supplement rental was within the ambit of the original provision of Section 10 (15A). Post amendment w.e.f. 1st April 1996
Delhi High Court held In the case of The Principal CIT vs. Samcor Glass Ltd. & M/s Samtel Color Ltd. that it is a settled position of law that reopening of assessment beyond 4 years is not sustainable unless there was a failure by the Assessee to disclose any material particulars
Delhi High Court held In the case of R.S. Bedi vs. ACIT that no addition u/s 69B is maintainable on the sole basis of DVO report. In the given case, although AO found some document during the search, but the same was not the basis for addition as also noted by ITAT.
Delhi High Court held In the case of Haryana Paneer Bhandar vs. CIT. that the Revenue has been unable to produce the satisfaction note of the AO of the searched person. Consequently, on this short ground of there being no satisfaction note, which is a mandatory requirement under Section 158BD.
Delhi High Court held In the case of The CIT vs. Sunil Aggarwal that the Assessee had an explanation for not retracting the statement earlier. He also furnished an explanation for the cash that found in the hands of his employee and this was verifiable from the books of accounts.
The ITAT Ahmedabad in the case of Gemstone Glass Pvt. Ltd vs. JCIT held that when an associated enterprise is taken as comparable then CUP method cannot be adopted for determining Arm Length Price irrespective of the fact that the associated enterprise taken as comparable is resident or non-resident.
The ITAT Delhi in the case of Fashion Design Council of India vs. Assistant DIT held that accumulation of income for utilization in future is allowable as deduction when the same is accumulated for meeting an object stated in trust’s charter document AND AO cannot treat the same as accumulation for general & indefinite purpose merely because that object had been most pursued one by the trust.
