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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 Chennai sends ₹42.72 lakh cash deposit case back to AO for fresh assessment after assessee fails to justify deposits made during demonetization.
ITAT Patna remands case of unexplained ₹1.32 crore cash deposits to CIT(A) after assessee claims no tax liability due to low income. Fresh review directed.
Limitation period for Section 271DA penalty should be counted from the date of the assessment order and delay in making the reference could not extend the limitation period
ITAT Rajkot allows a 107-day delay in filing an appeal due to the assessee’s health issues and Covid-19, remanding the case to the AO for fresh adjudication.
ITAT Ahmedabad partly allows Balwa Group Cooperative’s appeal, setting aside interest income deduction disallowance for reassessment. The tribunal directed the Assessing Officer to re-evaluate proportionate expenditure claims related to interest income from nationalized banks.
ITAT Chennai deletes ₹5 crore addition u/s 68, holding assessee proved source of funds. Lease deposit deemed genuine, creditworthiness established.
ITAT Kolkata partly allows Amarlal Bathija’s appeal, remanding unexplained credit addition and deleting arbitrary disallowance of business expenses.
ITAT Lucknow deletes ₹5.39 lakh addition u/s 69A, accepting assessee’s explanation for cash deposits during demonetization period. Bank certificate supports claim of ₹39,500 in old currency.
ITAT Kolkata remands Terai Fruits Co. penalty case, citing substantive compliance with Section 270AA despite missing Form 68. Court emphasizes need to determine misreporting under Section 270A(9).
Delhi HC quashes supplementary Section 148A(b) notice issued by AO, citing time limit and monetary limit violations. Highlights limitations under Section 149 of IT Act.
