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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 Revenue sought to tax software distribution income as royalty despite judicial precedents to the contrary. The Tribunal dismis...
Income Tax : The Revenue disallowed loan repayments alleging double deduction of charitable expenditure. The Tribunal ruled that documentary ev...
Income Tax : The issue was whether expenditure could be disallowed under Section 14A read with Rule 8D when the assessee had not earned any exe...
Income Tax : The issue was whether SBN deposits accepted by a co-operative society during demonetisation could be added under Section 68 solely...
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 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...
ITAT Kolkata deletes addition under Section 68, accepting LTCG on share sale by Kiran Kothari as genuine, rejecting AO’s reliance on general reports.
ITAT Mumbai ruled in favor of an auto-rickshaw driver, rejecting a ₹103 Crore income addition, citing insufficient investigation by the AO.
ITAT Bangalore rules software development as “production”, allowing Bosch’s claim under Sections 32(1)(iia) and 32AC for depreciation and investment allowance.
Understand the new 1% TCS on luxury goods above ₹10 lakh in India, effective April 2025. Learn which items are included, implications for buyers and sellers.
ITAT Bangalore denies Section 11 exemption to Al-Badar Trust, citing capitation fee collection as lacking charitable intent under the Income Tax Act.
Understand CBDT’s Notification 38/2025 on non-deductible settlement expenses under Income-tax Act for SEBI, Competition Act violations. Effective AY 2025-26.
ITAT Mumbai allows appeal by Kalpana Dilip Mehta, quashing reassessment order as time-barred, emphasizing strict adherence to limitation periods in income tax law.
Patna High Court held that compounding charge should be deposited by the petitioner abiding his statement and issue of apportionment of compounding charges should be considered by the Secretary, Rural Works Department.
ITAT Delhi held that while computing total income as per Rule 5 r.w. section 44, provisions of section 14A are not applicable. Further, disallowance method of computation of prescribed under Rule 8D is not applicable while “Book Profit” u/s 115JB.
ITAT Raipur held that disallowance under section 43B of the Income Tax Act towards unpaid VAT liability cannot be sustained since the amount was not claimed as an expenditure in P&L account. Accordingly, appeal of revenue dismissed.
