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Income Tax : Bangalore ITAT held that the Revenue cannot deny the fifth-year deduction under Section 35D after consistently allowing the claim ...
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 : 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 High Court held that merely issuing a notice is insufficient if the assessee is not informed of further developments or given ...
Income Tax : The Kerala High Court condoned a 676-day delay in filing an ITAT appeal after finding that the assessee had bona fide relied on it...
Income Tax : The Chennai ITAT ruled that indexation benefits under Section 48 cannot be denied when construction details are already part of th...
Income Tax : The Tribunal observed that reliance on third-party statements without providing cross-examination rendered the additions legally u...
Income Tax : The key issue was whether the absence of corresponding entries in Form 26AS justified denial of TDS credit. The ITAT held that emp...
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...
Tribunal also took note of the fact that AO had merely reproduced identical reasons for multiple years without verifying facts or forming a belief based on individual year-specific material.
ITAT Ahmedabad held that addition u/s. 68 of the Income Tax Act towards capital contribution deleted since assessee furnished adequate evidence to prove the identity, genuineness and creditworthiness of the partner. Accordingly, appeal of revenue dismissed.
The case of assessee was selected through compulsory manual Statutory notices u/s 143(2) was issued on 21.09.2017. Further, notice u/s 142(1) dated 08.12.2018 and 10.12.2018 were issued, seeking details of sales & purchases of lands, producing books of accounts and to substantiate the Short-Term Capital Gain.
ITAT Ahmedabad held that addition under section 68 of the Income Tax Act unsustainable since revenue/ department failed to establish that LTCG earned is non-genuine. Accordingly, appeal of revenue dismissed.
CBDT Notification 36/2025 requires sellers to collect TCS on luxury goods like watches, art over ₹10 lakh from April 22, 2025. Learn how it affects buyers & sellers.
Bombay High Court held that department have acted contrary to the SOP under section 144B of the Income Tax Act violating the principles of natural justice. Accordingly, assessment order passed thereon is liable to be quashed.
Bombay High Court reviews Shell India’s challenge to the 2016-17 assessment order under Section 144C. Dispute involved Relaxation Act applicability.
ITAT Delhi held that reopening of assessment under section 148 of the Income Tax Act based on incorrect facts and incorrect recording of reasons is invalid and bad-in-law. Accordingly, reopening is liable to be quashed.
ITAT Delhi held that concealment of income via bogus share capital transaction duly attracts levy of penalty under section 271(1)(c) of the Income Tax Act. Accordingly, appeal of assessee dismissed and penalty upheld.
ITAT Delhi held that approval memo u/s. 153D of the Income Tax Act is totally silent on the issues involved and has been granted omnibus approval without any thoughtful process being discernible. Thus, assessment order vitiated due to such mechanical approval.
