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Income Tax : The Income-tax Act, 2025 continues the old specified professions framework without addressing longstanding classification issues. ...
Income Tax : The Supreme Court dismissed the Revenue's review petitions and reiterated that payments for off-the-shelf software do not constitu...
Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
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 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 Tribunal held that an incomplete document recovered from an employee's laptop could not justify an addition under Section 69 w...
Income Tax : The ITAT held that once registration under Section 12AB was ultimately granted on the basis of the original application, the doctr...
Income Tax : The ITAT Chennai ruled that funds received by a Chartered Accountant for remitting clients' taxes could not be treated as unexplai...
Income Tax : ITAT Mumbai held that appellate forums can entertain additional claims even without a revised return. The matter was remanded to t...
Income Tax : The Telangana High Court held that recovery proceedings under Section 226(3) cannot automatically extend to a daughter's bank acco...
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...
The Mumbai ITAT ruled that a tax reassessment on alleged bogus capital gains was invalid, citing the lack of specific incriminating evidence found during the search.
The Delhi ITAT has invalidated an income tax reassessment for bogus LTCG from penny stocks, ruling that the approving authority’s sanction was mechanical.
Bangalore ITAT deletes additions against Global Star Realtors, holding that loose sheets seized from a third party without corroboration cannot justify tax additions.
In Rajeshkumar Shah vs DCIT, ITAT strikes down cash loan & notional interest additions under Section 69 due to lack of corroborating evidence and unreliable witness statements.
The ITAT Bangalore ruled that a CIT(A) cannot make additions on grounds not specified in the original reopening notice, setting aside additions on share trading deposits.
ITAT Delhi deleted transfer pricing adjustments made to Sony India, ruling that the intensity adjustment is an invalid substitute for the Brightline Test and that royalty payments were commercially justified.
The ITAT Bangalore ruled that income from sun-dried raisins is agricultural income, exempt from tax, if a farmer uses traditional methods without machinery.
Section 269SS of the Income Tax Act prohibits accepting cash loans or deposits of Rs. 20,000 or more. Non-compliance can lead to a 100% penalty under Section 271D.
Learn about taxation of income from house property under Income Tax Act, 1961. Understand how to calculate income for self-occupied and let-out properties.
The Mumbai ITAT set aside a PCIT’s revisionary order against Procter and Gamble, ruling the AO’s original inquiry was adequate and not a basis for revision.
