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Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...
Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...
Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...
Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...
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 : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Jodhpur ITAT held that deduction under Section 80GGC cannot be denied merely on allegations against a political party in the a...
Income Tax : Assessment orders passed pursuant to express liberty granted by the High Court during pendency of settlement-related litigation re...
Income Tax : The ruling emphasizes that undisclosed business receipts and stock arising from an existing business cannot automatically be chara...
Income Tax : The Tribunal held that when sales are accepted and books of account are not rejected, the entire amount of disputed purchases cann...
Income Tax : The ITAT Pune held that the CIT(A)/NFAC cannot dismiss an appeal merely for non-prosecution without adjudicating the issues on mer...
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...
Delhi ITAT ruling on ACIT vs. M/s Global Vantedge – Exclusion of leased telephone lines from fringe benefits. Rs. 26,56,792 expense deleted.
Lions Club of Calcutta Hastings Vs DIT (Exemption)- (ITAT Kolkata)- In the present case no show cause notice has been issued to the assessee. Therefore, we do not see any merit in this contention of the lad that the provisions contained in section 293C of the Act enables the ld. Commissioner of Income Tax to withdraw approval. We, therefore, considering the totality of the facts as discussed hereinabove are of the view that the ld. Commissioner of Income Tax was not justified in withdrawing approval once granted because the Legislature in all its wisdom has sought to omit this proviso to section 80G(5)(vi) of the Act and after omission of the said proviso, the approval once granted shall continue to be valid in perpetuity unless and until a show cause notice is issued by the concerned CIT showing his intention to withdraw already granted such approval.
Southern Metals & Alloys Vs. ACIT (ITAT Chennai)- The assessing authority had asked for details in respect of various creditors and in respect of the above stated trade creditors. The assessee had not furnished any particulars before the assessing authority. No confirmations were made by creditors also. On an examination of the records of the case, we find that even though the assessing authority had initiated the process of verifying the genuineness of the trade creditors, he has not brought that process to a logical end.
Notification No.124/2011 – Income Tax Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 1111(E), dated the 8th August, 2005, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 2, “Comprehensive rehabilitation, medical & human resource development services for the blind and disabled” by Blind People’s Association, Jagdish Chowk, Surdas Marg, Vastrapur, Ahmedabad
R. K. Jain vs. UOI (Delhi High Court)- The matter is remanded back to the CIC for considering the issue whether, in the larger public interest, the information sought by the petitioner could be disclosed. If the CIC comes to a conclusion that larger public interest justifies the disclosure of the information sought by the petitioner, the CIC would follow the procedure prescribed in Section 11 of the Act.
Udyog Bharati Vs ITO (Ahmedabad High Court)- In the first place it was not necessary for the appellant to file a cross-objection. As already noted, the assessee had raised an alternative contention of exemption under Section 11 of the Act before the CIT(A). The CIT(A) in view of his opinion that the benefit of Section 10(23) of the Act is required to be granted, did not examine this alternative contention on merits. In that view of the matter, when the Revenue had carried the CIT(A)’s order before the Tribunal, it was open for the assessee to support the order on all grounds including those which may not have been accepted or examined by the CIT(A). For this purpose, cross-objection was not necessary. In that view of the matter, the Tribunal not entertaining such cross-objection on the ground of delay, to our mind, would not be fatal to the assessee’s contention. It is clarified that if the Revenue’s appeal before the Court is entertained further, it would be open for the assessee to support the orders in its favour on all grounds.
ACIT Vs. Kannappan Iron and Steel Co. Pvt. Ltd. (ITAT Chennai)-The Tribunal found that the expenditures were not incurred for setting up of any business or initiating an expansion programme. The expenditures were incurred as a measure of value addition and for competing in the market. There was no basic improvement in the fundamental character of product already manufactured and processed by the assessee. It was in the light of those findings, the Tribunal has held that the disputed expenditures were in fact revenue in nature.
ACIT Vs. L&T Western India Toll Bridge Ltd (ITAT Chennai)- It was yelled by the ld.AR that merits of the grounds taken in the cross objection should not be washed away permanently and the assessee should be given an opportunity to revive these issues as and when the proceedings, if reversed, by the higher forums.
In appeal for the assessment year 2001-02, the Revenue assails deletion of additions of Rs.3,60,000/- and Rs.1,56,388/- made by the ld. CIT(A). During the course of hearing, it was admitted by the ld. DR that the tax effect in this case was less than Rs.3 lakhs. Similarly, for the assessment year 2002-03, the Revenue has assailed the deletion of Rs.5,11,494/-. The tax effect here is also less than Rs.3 lakhs and even below Rs.2 lakhs. we are of the opinion that Circular No.3/2011 of CBDT will apply and due to low tax effect, the appeals of the Revenue are not maintainable. There is no case for the Revenue that the issue involved has got any cascading effect over other years or on the assessments of any group of which assessee is a part.
Shri A.S. Bindra Vs ACIT (ITAT Delhi) – In the assessment order, it has been mentioned that due to non-availability of evidence, the assessee has offered this amount as his income. That fact cannot go against the assessee in penalty proceedings as the assessee will be having right to contest the levy of penalty independently, apart from the findings recorded in the assessment order. Therefore, the relevant evidence is admitted as additional evidence and the matter is restored back to the file of the AO for readjudication of the penalty proceedings after due consideration of the evidence being placed by the assessee on record. After giving a reasonable opportunity of hearing to the assessee and placing evidence on record, the AO will re-adjudicate the issue of levy of penalty or otherwise in accordance with law. We direct accordingly.
