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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...
ITAT Ahmedabad dismisses appeal in Pavankumar M Sanghvi Vs ITO. Unexplained unsecured loans from shell entities treated as income. Interest deduction disallowed.
Bombay High Court permits challenge to 153C jurisdiction, ruling cross-objections not required to support favorable order.
Gujarat High Court dismisses appeal, upholds addition of unexplained cash credit under Section 68, citing lack of genuine transactions.
ITAT Ahmedabad upheld the deletion of ₹86 lakh addition for unsecured loans, citing sufficient evidence and loan repayment by Cloud 9 Infraspace LLP.
ITAT Ahmedabad allows the appeal in the case of Kshama Sanjay Tripathi, accepting family sources for property investment and dismissing unexplained expenditure.
ITAT Kolkata held that provisions of section 56(2)(x) of the Income Tax Act were inserted by Finance Act, 2017 and effective only from 01.04.2017. Thus, provisions of section 56(2)(x) is not applicable when flat is brought prior to 01.04.2017.
Assessee had appealed against the order dated 12.06.2024 and 18.06.2024 passed by Commissioner of Income Tax (Appeals) [CIT(A)] for the AY 2016-17, 2017-18 and 2018-19,challenging the denial of deduction under section 80P(2)(d) on certain interest incomes.
ITAT Mumbai dismisses the appeal of Pesticides Manufacturers and Formulators Association of India as the assessee applies for settlement under the VSV Scheme.
ITAT Delhi rules excise duty refund to Jindal Saw Ltd as capital receipt, not taxable. Cites earlier rulings and applies ‘purpose test’ from Ponni Sugars case.
ITAT Ahmedabad dismisses Canpac Trends’ appeal on share premium addition under Section 56(2)(viib). No submissions made by the appellant.
