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Income Tax : The article argues that recurring demands for ITR deadline extensions arise from delayed AIS updates, late utility releases, and t...
Income Tax : Senior citizens aged 75+ with only pension and bank interest income need not file ITR if a specified bank computes income and dedu...
Income Tax : Section 44AA mandates maintenance of books by specified professionals and eligible businesses based on income or turnover limits. ...
Income Tax : Employer-provided interest-free or concessional loans are taxable as salary perquisites due to the financial benefit enjoyed by em...
Income Tax : ESOPs are taxed as salary perquisites on allotment based on FMV at exercise. Eligible start-up employees can defer TDS and tax pay...
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 Mumbai ITAT held that an addition under section 69 cannot survive when the Revenue fails to establish that the alleged investm...
Income Tax : ITAT Lucknow held that disallowance of interest expenses cannot be sustained without evidence showing that interest-bearing funds ...
Income Tax : SC dismissed Revenue’s plea after Gujarat HC held that even proposed additions would not alter MAT liability, defeating escapeme...
Income Tax : The Tribunal held that the assessee was entitled to additional interest under Section 244A(1A) because the Assessing Officer faile...
Income Tax : The Tribunal held that once Second Line Support services were examined and covered under an Advance Pricing Agreement, disallowanc...
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...
Laghu Udyog Bharati seeks extension of due date for filing Tax Audit Reports and ITR for AY 2025-26, citing portal issues, delays, and disruptions.
A revised tax return helps you correct mistakes in your ITR filing. Learn who can file, the deadline, and how to file a revised return on the e-Filing portal.
Madras High Court held that completion of assessment on best judgement as the petitioner had not shown cause in response to the notice vis-à-vis assessment made after several years of return filing. Hence, matter restored back for providing opportunity of being heard to petitioner.
The Ministry of Finance grants income tax exemption to the High Court Legal Services Committee in Chandigarh on specific income, including grants and interest.
The Ministry of Finance grants income tax exemption to Rajasthan’s Real Estate Regulatory Authority for specific incomes under the Income-tax Act, 1961
Gujarat High Court held that reopening of assessment under section 148 of the Income Tax Act alleging accommodation entries not sustained in absence of any supporting, independent, tangible material. Accordingly, reopening quashed as genuineness of loan established.
The Delhi High Court has ruled that a Jurisdictional Assessing Officer can initiate reassessment proceedings, citing a prior judgment that found concurrent jurisdiction with Faceless Officers.
The Allahabad High Court has set aside an ex-parte penalty order issued against Beyond Research And Development Limited, ruling that the denial of an opportunity to be heard violated principles of natural justice and procedural fairness.
The Delhi High Court has remanded a case on late ITR filing, ruling that a 12-day delay during the COVID-19 pandemic constitutes “genuine hardship.”
High Court set aside the AO’s addition of expenses in the assessment of a SEBI Category II AIF, holding that the addition was unlawful as no deduction was claimed by the fund or its unit holders.
