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Income Tax : The revised ITR forms for AY 2026-27 introduce new tax slabs, expanded ITR eligibility, and enhanced disclosure requirements. Unde...
Income Tax : The article argues that the daily backup requirement under Rule 46(8) applies only to books maintained in electronic mode, not mer...
Income Tax : Judicial authorities have held that Foreign Tax Credit is a substantive right and cannot be denied merely due to procedural delays...
Income Tax : This guide explains how unexplained cash credits under Section 68 and related provisions can attract steep taxation under Section ...
Income Tax : The document outlines how MAT and AMT ensure that companies and eligible non-corporate taxpayers pay a minimum level of income tax...
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 Delhi ITAT sustained the addition arising from the sale of listed shares after finding discrepancies in purchase records, incl...
Income Tax : ITAT Lucknow held that derivative losses incurred by a spouse using funds gifted by the assessee can be clubbed and set off under ...
Income Tax : While recognising that earlier judgments had invalidated JAO-issued notices, the Court avoided passing orders that would make the ...
Income Tax : The Delhi ITAT held that where purchases are reflected in accepted sales and closing stock, the entire purchase amount cannot be d...
Income Tax : The Delhi ITAT held that repeated non-compliance with statutory notices transformed the reassessment into a best judgment assessme...
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...
Compare STCG and LTCG under the new regime FY24-25. Learn about tax rate changes, holding periods, thresholds, and set-off rules for listed equities and mutual funds.
Section 194T mandates 10% TDS on partner payments like salary, interest, or bonus by firms, effective from April 1, 2025, with a Rs. 20,000 threshold.
Delhi ITAT quashes reassessment in Vijender Nath Gupta case, citing AO’s failure to properly quantify escaped income during reopening.
ITAT Delhi rules Crocs Inc.’s service income not taxable in India under DTAA, as services did not “make available” technical knowledge to Crocs India.
Delhi ITAT: Section 153D approval requires specific application of mind per assessment year, not blanket or mechanical. Assessment quashed.
ITAT Delhi allows Birlasoft’s claims on lease equalization and business loss write-offs, rejecting tax authority’s disallowances for AY 2014-15.
Calcutta High Court held that seizure of jewellery is valid since legitimacy of jewellery not substantiated; discrepancies are found in documentation and weight and there was reasonable belief of potential wrongdoing.
Compare the old and new tax regimes, rates, exemptions, deductions, and more for FY 2025-26. Choose the best option based on your financial situation.
ITAT Chandigarh held that cash deposits in assessee’s bank account was less than the amount mentioned in the reopening notice and thus reasons recorded by the AO were not found to be valid and, therefore, the reassessment framed was quashed. Accordingly, appeal of assessee allowed.
ITAT Hyderabad held that reopening of assessment u/s. 148 of the Income Tax Act is void-ab-initio since income escaped assessment doesn’t exceed Rs. 50 lakhs or more. Accordingly, assessment order passed by AO is quashed.
