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Income Tax : The article explains how taxpayers often wrongly assume that housing loan loss benefits remain available under the new tax regime....
Income Tax : The article explains how seemingly simple questions in ITR-1 can create major confusion for taxpayers. It highlights practical iss...
Income Tax : The ITAT Mumbai held that alleged accommodation entry operators cannot be taxed on the entire turnover amount. The Tribunal ruled ...
Income Tax : AI-driven scrutiny and AIS integration are increasing Income Tax notices where property transactions occur below stamp duty value....
Income Tax : This case highlights that cash paid to builders as “on-money” will not automatically be treated as tax evasion if it originate...
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 updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
Income Tax : The data shows a steady increase in net direct tax collections driven by higher corporate and non-corporate tax revenues. It highl...
Income Tax : The issue highlights delays caused by non-binding timelines in appellate proceedings. It proposes mandatory limits to ensure faste...
Income Tax : The Hyderabad ITAT ruled that the CIT(A) could not delete unexplained cash deposit additions merely on the basis of submissions an...
Income Tax : The ITAT Ahmedabad held that co-operative banks qualify as co-operative societies for purposes of Section 80P(2)(d). The Tribunal ...
Income Tax : The Delhi High Court set aside an assessment order after finding that the Assessing Officer failed to consider the assessee’s re...
Income Tax : The ITAT held that credits received in the assessee’s bank account were repayments of earlier advances and not unexplained cash ...
Income Tax : Tribunal ruled that income tax demands not included in the approved resolution plan were irrevocably extinguished. The decision fo...
Income Tax : The Income Tax Department increased monetary thresholds for assigning cases between ITOs and D/ACITs in Delhi Region. The revised ...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
Income Tax : The consolidation into Form 121 introduces stricter documentation and reporting obligations. The decision emphasizes accountabilit...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
The ITAT held that reassessment following a search was valid because statements recorded during search constituted fresh tangible material. The ruling distinguished reassessment from a mere “change of opinion.”
Filing Income Tax Return is not always linked to tax liability. This guide explains the transaction-based conditions under Section 139(1) that make ITR filing compulsory even for low-income taxpayers.
The Supreme Court held that grants disbursed by a statutory corporation formed part of its core business functions and qualified as deductible revenue expenditure. The ruling clarified that such grants were not mere application of income.
Delhi ITAT ruled that only unique solar days of employee presence, and not cumulative man-days, should be considered for determining Service PE under the India-US DTAA. Since the assessee’s employees stayed only 72 unique days in India, no PE existed and Section 44BB taxation was deleted.
The Telangana High Court held that reassessment proceedings initiated by the Jurisdictional Assessing Officer after implementation of the Faceless Assessment Scheme were without jurisdiction. It quashed notices issued under Sections 148A and 148 along with consequential orders.
Form 157 under the Income-tax Act, 2025 is not required for every person leaving India. The requirement applies only in limited cases involving tax investigations, financial irregularities, or large outstanding tax arrears.
ITAT Delhi held that Section 56(2)(x) could not be applied to property transactions relating to Assessment Year 2017-18 because the provision became effective only from AY 2018-19. The Tribunal deleted the addition made on the difference between stamp duty value and purchase consideration.
The ITAT Dehradun held that exemption under Section 54B cannot be denied merely for non-deposit in the Capital Gains Account Scheme when the assessee actually invested the sale proceeds in agricultural land within the statutory period. The ruling treats such non-deposit as a procedural lapse.
ITAT Delhi held that lawful TDS credit cannot be denied merely because the Assessing Officer overlooked an earlier rectification order under Section 154. The Tribunal directed grant of TDS credit and deletion of interest under Sections 234A and 234B.
The Supreme Court dismissed the Revenue’s challenge to the Bombay High Court ruling that quashed a Section 132 search action for failure to satisfy jurisdictional conditions. The question of law was kept open.
