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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 HC directs expedited appeal disposal for Ajas N Shamsu, addresses property attachments and stay of garnishee proceedings.
Kerala HC orders Income Tax Dept to resolve Janayugam Publications’ 2016 appeal within four months, provided required documents are uploaded within 30 days.
Bombay HC directs IT Dept to review H.K. Jewels’ plea on seized gold, citing Section 132(1)(iii) of the IT Act. Petitioners granted time to file representations.
Bombay High Court quashes reassessment notice under Section 148, holding that revisited issues from Section 263 proceedings cannot form the basis for reopening cases.
Bombay HC sets aside IT department’s rejection of a compounding plea due to delay, directing a reconsideration per Supreme Court precedents.
ITAT Mumbai quashes reassessment against CLE Private Limited, ruling notice issued beyond TOLA’s limitation period is invalid.
Bombay HC quashes Indusind Media’s reassessment, citing change of opinion and lack of double deduction proof, ruling in favor of the taxpayer.
Bombay HC rejects review petition by Supreme Construction, upholds pre-deposit for appeal, and imposes costs for non-compliance.
Telangana HC overturns CBDT’s refusal to reassess Satyam’s tax after fraud, citing genuine hardship and unlawful tax collection.
Bombay HC affirms 100% addition under S. 69C for unproven purchases, reversing tribunal’s 12.5% estimation. Details on the ruling.
