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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 issue involved in the present appeal is that whether an incentive received in sales tax liability under a Scheme formulated by the State Government would be on capital account, exempt to taxation, or on revenue account, liable for taxation.
ITAT Mumbai held that as per previous provisions of section 68 of the Income Tax Act applicable till 31st March 2013, the assessee was not required to explain the source of money provided by the creditors.
ITAT Amritsar held that addition on protective basis in the hands of assessee not justified as bank account is fraudulently opened in his name without the assessee’s knowledge. Accordingly, appeal of assessee allowed and addition directed to be deleted.
ITAT Ahmedabad held that taxing entire unaccounted cash receipts or on-money receipts not justified as only profit embedded in such receipts is taxable. Accordingly, AO directed to adopt 13% profit margin on real estate business and tax accordingly.
ITAT Hyderabad held that addition under section 69 of the Income Tax Act towards unexplained investment sustained since documents seized is incriminating in nature. Accordingly, appeal of assessee dismissed.
Taxability of an individual in India is primarily determined by their residential status under the Income Tax Act, 1961. For returning NRIs, the Resident but Not Ordinarily Resident (RNOR) status often offers significant advantages during the initial years.
Explore why foreign exchange gains/losses, particularly on revenue items, should be excluded from Profit Level Indicator (PLI) calculations in Transfer Pricing, challenging current judicial precedence and OECD guidelines.
Understand the Insolvency and Bankruptcy Code’s provisions for minimum payments to operational and dissenting financial creditors, including key amendments and the ongoing Supreme Court deliberation on secured creditor entitlements.
Himachal Pradesh High Court stays Section 148 notice, ruling jurisdictional officer lacked authority under the Faceless Assessment Scheme. Cites Telangana and Bombay High Courts.
Ahmedabad ITAT rules in favor of Sudhirbhai Pravinkant Thaker, deleting cash addition, stating previous bank withdrawals can be source of later deposits if not utilized elsewhere.
