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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...
Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key amendments and changes.
KSCAA’s representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesting amendments for fair resolution.
DCIT Vs Triton Hotels and Resorts Private Limited (ITAT Mumbai) Income Tax Appellate Tribunal (ITAT), Mumbai, adjudicated appeals in the case of DCIT Vs Triton Hotels and Resorts Pvt. Ltd. The matter primarily pertained to unexplained expenditures assessed under Section 69C of the Income Tax Act for the assessment year (AY) 2020-21. Cross-appeals were filed […]
ITAT Pune rules that an ITI substantially funded by the government qualifies for tax exemption under Section 10(23C)(iiiab), even if the primary income source is interest on government grants.
Supreme Court disposes of ITO Vs DXN Herbal case due to low tax effect under Rs. 5 crores. Question of law remains open per Circular dated 17 Sept 2024.
ITAT Rajkot remanded the matter as lower authority has not exercised their power to enquiry in section 131 and 133(6) of the Act to verify the genuineness of the transaction and creditworthiness of the party in case of addition towards unsecured loan u/s. 68.
ITAT Bangalore upholds CIT(A)’s decision, stating that belated filing of Form 10 is a procedural lapse and doesn’t disqualify an institution from tax exemptions under Section 10(23C)(iiiac) and 11(2).
It is also noteworthy that the learned Departmental Representative (DR), during the hearing, did not point out any material differences between the facts of the present case and those of the earlier assessment years.
The US Transactions were subject to the Mutual Agreement Procedure between the competent authorities of US and India under Article 27 of the India-US Double Taxation Avoidance Agreement.
ITAT Mumbai overturns CIT(A)’s order, stating the appellate authority lacks power to set aside assessments. The tribunal directed the CIT(A) to re-adjudicate the case after obtaining a remand report from the Assessing Officer.
