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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...
Notification No. 78/2015 – Income Tax The prescription in respect of the diseases or ailments specified in sub-rule (1) shall be issued by the following specialists:- (a) for diseases or ailments mentioned in clause (i) of sub-rule (1) – a Neurologist having a Doctorate of Medicine (D.M.) degree in Neurology or any equivalent degree, which is recognised by the Medical Council of India;
Gujarat Paguthan Energy Corporation P Ltd Vs ITO (ITAT Ahmedabad)- For allowing any income based deduction to the assessee, if the assessee had not claimed depreciation and claimed the deduction without claiming depreciation then AO could not forcefully deduct the depreciation from profit & Loss Account.
ITAT Ahmedabad held in Megha Developers Vs ITO that as the assessee had entered into an agreement in which he had to bear all the costs related with the building of the project and also he was having the rights to receive all the payments from the members of the society
ITAT Ahmedabad held in M/s Sun Rise enterprise Vs ACIT that the insertion of clause d to sec 80IB(10) would be applicable from 01-04-2005 i.e the amendment related with built up area of commercial establishments not to exceed more than 5% of total built up area of housing project would have prospective effect not retrospective effect.
ITAT Ahmedabad held in Dhami Brothers Vs DCIT that if the assessee had not maintained any qualitative stock records to justify the sales price of diamonds and closing price of stock then the loss in the books of accounts would not be disallowed if after verification the AO had not found anything adverse about the transactions of the assessee.
ITAT Ahmedabad held in Sohan Builders Vs ACIT that if the AO had assessed the income of the assessee at some higher percentage than what the assessee had already shown in the computation then it would not amount to the concealment of income,
ITAT Ahmedabad held in M/s Anand Food Dairy & products Vs ITO that the deduction u/s 80IB(11A) would be allowed from the initial assessment year i.e A.Y relevant to the previous year in which the business was commenced but not from the A.Y of the incorporation of this provision in the I.T Act i. e not from -01-04-2005.
Relying on judgment of jurisdictional High Court in the case of Raajratna Metal Industries Ltd. vs. ACIT, [2014] 49 taxmann.com 15 (Gujarat) ITAT Ahemdabad held in the case of DCIT vs. Naroda Enviro Project Ltd. that the reopening of assessment solely on the ground of audit objection is not valid.
The ITAT Ahmedabad in the case of M/s Ruchi Developers vs. ITO, where Assessee has failed to produce creditor parties in respect of alleged Bogus Purchases while he submitted all other details and evidences and additions been made,
In the case of M/s Kantilal Siyaram vs. ACIT (ITAT Ahmedabad), the assessee has claimed that advance tax was paid, which was not recorded in the original return on the income which was remained to be disclosed in original return.
