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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...
Mumbai ITAT rules income addition for bogus purchases limited to 5% estimated profit, citing Bombay High Court precedent. Assessee gets partial relief.
ITAT Mumbai partly allows Manish P. Lathia’ s appeal, reducing bogus purchase addition to 5% based on industry precedents. AO directed for verification.
Taxpayers missing the ITR deadline can claim delayed refunds for TDS/advance tax paid, subject to limits and conditions under CBDT circulars.
Delhi High Court held that no addition on account of sale of fly ash since the entire sale proceeds of fly ash were deposited in a fly ash utilization fund and the said funds were to be spent only in accordance with directions issued by Government.
ITAT Jaipur held that exemption under section 11 of the Income Tax Act eligible to trust involved in charitable-religious activities which doesn’t benefit any specific religious community. Accordingly, matter restored to CIT(E) for reconsideration.
Patna High Court held that there is no jurisdictional error since material/ documents based on which order of assessment has been passed is duly supplied to the assessee. Accordingly, writ petition dismissed.
Understand TDS rules for rent payments in India. Learn about thresholds, rates, and compliance for resident and non-resident landlords, and different payer types.
By way of this appeal, the assessee has challenged the correctness of the order of the Learned Principal Commissioner of Income Tax-1, Rajkot passed u/s.263 of the Income Tax Act, 1961 dated 31/03/2024 for Assessment Year (AY) 2017-18.
ITAT Delhi held that exemption under section 10(23C)(iiiad) of the Income Tax Act granted on the basis of provisional registration under section 10(23C)(i) of the Income Tax Act even in absence of approval u/s. 12A. Accordingly, appeal of assessee allowed.
Income Tax appeal dismissed. Tribunal upholds CIT(A)’s order allowing 8% profit estimation on Kirana store turnover against unexplained bank deposits.
