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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 Mumbai held that that reimbursement of expenses at cost is not taxable as fees for technical services since there is no element of income attached to the transaction. Accordingly, revenue’s appeal dismissed.
ITAT Jaipur remands Jai Prakash Sharma’s case for fresh hearing after CIT(A) added ₹12,06,189 as undisclosed income due to non-compliance in earlier proceedings.
Telangana High Court held that interest paid for broken period on securities held as stock-in-trade is allowable as deduction. Accordingly, petition filed by revenue dismissed and question answered in favour of respondent-assessee.
Telangana High Court quashes non-speaking income tax stay orders for AY 2022-23, remanding the case for fresh consideration per legal guidelines.
ITAT Mumbai rules that cooperative societies can claim deductions under Section 80P(2)(d) for interest earned from cooperative banks, overturning prior disallowance.
ITAT Cuttack held that revisionary proceedings under section 263 of the Income Tax Act is liable to be quashed since assessee is entitled for exemption u/s. 11 and hence twin conditions are not satisfied in as much as there is no loss of revenue.
ITAT Mumbai remands Rotary Charity Trust’s 80G approval case due to an inadvertent section error in Form 10AB. Matter sent back for reconsideration.
ITAT Ranchi permits Gajanand Bhalotia to withdraw appeal as he opts for the Vivad se Vishwas Scheme, with an option for restoration if settlement fails.
ITAT Chennai overturns AO’s Rs.53.02 lakh addition to J.K. Jewel Craft’s income, ruling that suspicion alone cannot justify unexplained investment during demonetization.
Delhi High Court clarifies Nokia India’s tax reassessment after a notice was issued in the name of a non-existent company, aligning with Supreme Court rulings.
