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Income Tax : The Income Tax Act 2025 has overhauled the 1961 law by introducing new section numbers, a unified “Tax Year,” and simplified c...
Income Tax : The Income Tax Act 2025 introduces mandatory reporting of high-value gifted immovable properties exceeding ₹45 lakh. The amendme...
Income Tax : The ITAT Surat held that agricultural land qualifies as “immovable property” under Section 56(2)(x) since the provision covers...
Income Tax : Businesses now face stricter seller-wise tracking, PAN verification, and reconciliation obligations under TDS on purchase provisio...
Income Tax : The judgment rejected the practice of assigning a nil arms length price merely because a taxpayer reported financial losses. The c...
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 updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
Income Tax : The data shows a steady increase in net direct tax collections driven by higher corporate and non-corporate tax revenues. It highl...
Income Tax : The issue highlights delays caused by non-binding timelines in appellate proceedings. It proposes mandatory limits to ensure faste...
Income Tax : ITAT Bangalore held that an appeal filed without verification by the authorized Principal Officer was not maintainable. The Tribun...
Income Tax : Gujarat High Court held that reassessment notices issued after scrutiny assessment were invalid because the Assessing Officer had ...
Income Tax : ITAT Delhi noted that confirmations from the company and broker regarding share transactions were available but not adequately con...
Income Tax : Mumbai ITAT treated appeals against rejection of Section 12AB and 80G registration as infructuous after the CIT(E) subsequently gr...
Income Tax : Mumbai ITAT held that granting only seven days for compliance before dismissing an appeal violates principles of natural justice. ...
Income Tax : The Income Tax Department increased monetary thresholds for assigning cases between ITOs and D/ACITs in Delhi Region. The revised ...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
Income Tax : The consolidation into Form 121 introduces stricter documentation and reporting obligations. The decision emphasizes accountabilit...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
ITAT Mumbai deletes ₹27.40 lakh addition under Section 69A, holding cash deposits as genuine business advances for car bookings, duly supported by confirmations, PAN, and invoices; non-response of customers cannot justify addition without proper verification.
The ruling clarified that unverified electronic records and third-party statements cannot justify additions without proper verification. The absence of direct linkage and corroboration led to deletion of additions.
ITAT Hyderabad quashes reassessment as Section 148 notice, though dated 31.03.2021, was actually issued on 01.04.2021; failure to follow mandatory Section 148A procedure and obtain proper approval rendered proceedings invalid.
ITAT Pune sets aside ₹11.57 lakh disallowance under Section 36(1)(va) for alleged PF/ESI delay, citing conflicting Supreme Court views in Woodland vs Checkmate; matter remanded to CIT(A) for fresh factual and legal adjudication.
ITAT Hyderabad deletes Section 69A additions in alleged penny stock case, holding that documented share transactions cannot be treated as bogus based on suspicion or general investigation reports without specific evidence against the assessee.
ITAT Mumbai rules scholarships to Indian students studying abroad qualify as valid charitable application in India. Denial of 12AB and 80G set aside, clarifying registration stage scope is limited to objects and genuineness.
ITAT Mumbai quashes ₹1.64 Cr reassessment for faceless violation & time-barred notice u/s 148; holds jurisdictional defect fatal, TOLA cannot extend limitation.
The court examined whether delay in Form 10B filing could be condoned but found the authority rejected it on unrelated grounds. It held that such rejection beyond the scope of Section 119(2)(b) was invalid and remanded the matter.
The issue involved classification of land for capital gains taxation. The Court held that revenue records and evidence of agricultural activity prevail, making the land exempt from capital gains tax.
The Court held that reassessment cannot be initiated on issues already examined during scrutiny assessment. It ruled that reopening based on the same material amounts to a change of opinion and is invalid.
