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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...
Kerala High Court rules that the assessee must prove land is agricultural for capital gains tax exemption. Tribunal’s factual findings upheld; appeal dismissed.
Sikkim High Court rules that the expanded definition of ‘Sikkimese’ under Section 10(26AAA) of the Income Tax Act does not impact indigenous rights.
Rajasthan High Court nullifies tax transfer order due to insufficient notice, ordering reassessment with proper hearing opportunity.
Delhi High Court held that Resale Price Method (RPM) is the most appropriate method to determine arm’s length price since assessee purely acts as a distributor and makes no value addition. Thus, appeal of revenue dismissed.
Madras High Court held that income from sale of shares is to be treated as business income since money was borrowed and invested in shares only for the purpose of trading in shares. Accordingly, income from sale of shares cannot be treated as short-term capital gain.
Orissa High Court overturns rejection of Silicon Institute’s late audit report. Court cites minor delay, orders acceptance despite technical glitch claim.
ITAT Delhi partly allows BSNL’s appeal but upholds interest levy u/s 201(1A) for delayed TDS deposit. Check the details.
Delhi HC rules reassessment invalid as assessee was not informed about alleged bogus entity. Tax authorities must follow due process under Section 148A of IT Act.
ITAT Ahmedabad rules no penalty under Section 271(1)(c) when income addition is based on estimation. Case details of Maruti Infrastructure Ltd. Vs DCIT explained.
Madras HC upholds deemed pendency of settlement applications before March 31, 2021, under Clause [iv] of S.245A, affirming Single Judge’s ruling.
