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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 Jaipur upheld income additions in Kavita Samtani vs. DCIT due to undisclosed cash investments under Section 69 and questioned documentation on financial sources.
In Kavita Samtani vs. DCIT, ITAT Jaipur sets aside additions made under Section 69. The appeal challenges the assessment order for unexplained investments.
Jaipur ITAT rules on Vinaya Sharma’s agricultural land sale dispute, determining its taxability under the definition of capital assets in Section 2(14) of the IT Act.
ITAT Jaipur upheld CIT(A)’s decision to add undisclosed income under Sec 50C in the case of Kavita Samtani Vs DCIT, relating to discrepancies in reported property sale value.
As per provisions of section 153C of the Act, notice required to be issued to the other person would be a notice under section 153C of the Act, but even then assessment is to be framed in accordance with the procedure prescribed under section 153A of the Act.
ITAT Jaipur rules in favor of Deepak Kumar Samtani, dismissing penalty under Section 272A(1)(C) due to lack of evidence of non-compliance with issued notices.
Learn how CRS and FATCA enhance tax transparency, requiring foreign asset disclosure in India. Avoid penalties with complete, accurate income reporting.
ITAT Ahmedabad held that CIT(A) erred in upholding addition made by AO without considering the additional evidence. Such failure to admit and evaluate the additional evidence constitutes a violation of natural justice. Thus, matter remanded back for fresh adjudication.
ITAT Nagpur held that the addition made under section 69A of the Income Tax Act towards unexplained money is liable to be quashed since the nature and source of deposit is clearly established.
ITAT Vishakhapatnam held that addition u/s. 69 r.w.s. 115BBE of the Income Tax Act merely on the basis of excel sheet seized from third party without any independent enquiry and independent corroborative evidences is unsustainable in law.
