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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...
Despite there was a valid disclosure made by assessee and AO being duly apprised of the factum of merger, AO made the draft assessment order in the name of a party which no longer existed on that date.
ITAT Kolkata held that CIT(A) rightly deleted addition under section 68 of the Income Tax Act since identity and creditworthiness of share purchased duly explained. Accordingly, appeal of revenue dismissed.
ITAT Kolkata held that the surcharge is leviable only when the amount of income tax is computed where the total income exceeds Rs.50 lakhs. Here, surcharge is not leviable since income is less than Rs. 50 Lakhs. Accordingly, appeal allowed.
ITAT Kolkata held that undisclosed commission income on accommodation entries to be added @0.15% instead of 1%. Accordingly, AO directed to compute the rate the commission @0.15% and not 1%.
Calcutta High Court dismisses appeal in PCIT Vs Sawankumar T Jajoo, upholding ITAT’s order on long-term capital gains from penny stocks.
Calcutta High Court held that transfer order issued under section 127(2) of the Income Tax Act lacking cogent reasons to justify necessity of transferring case is untenable. Accordingly, transfer order held as invalid.
ITAT Jaipur held that when the cash found in books are more then physically found no further addition is required to be made in the hands of the assessee. Accordingly, addition towards unexplained cash set aside.
ITAT Agra held that dismissal of appeal by CIT(A) merely because the assessee did not comply with the notices issued by CIT(A), without adjudicating issues arising in the appeal on merits, is not sustainable in the eyes of law keeping in view provisions of Section 250(6).
Whether or not a permanent establishment existed in a State during a given period must be determined on the basis of the circumstances applicable during that period and not those applicable during a past or future period.
ITAT Chennai remands appeal of Selvalakshmi Feeds & Farms to CIT(A) for reassessment, citing lack of proper adjudication. Learn key details of this 2024 case.
