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Income Tax : Increasing use of RERA data by tax authorities makes alignment between project disclosures and income tax reporting essential to a...
Income Tax : Taxpayers are facing confusion following the introduction of the Income-tax Act, 2025. The key clarification is that income earned...
Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...
Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
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 Court held that, for assessment year 2009-10, filing the audit report along with the return was directory and not mandatory. D...
Income Tax : The Chennai ITAT held that the Pr. CIT could not invoke Section 263 on matters already under consideration before the appellate au...
Income Tax : The Chennai ITAT held that excess stock found during a survey could not be taxed as unexplained investment when it had been accoun...
Income Tax : The Tribunal upheld the disallowance of a ₹10 lakh deduction after the recipient political party informed the tax authorities th...
Income Tax : The Tribunal upheld the denial of deduction under Section 80GGC after finding that the political donation formed part of an allege...
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...
CBDT notifies tax exemption for Haryana’s District Legal Service Authorities under Section 10(46) of Income Tax Act, 1961, for specified incomes till 2028-2029.
CBDT grants tax exemption to Real Estate Regulatory Authority, New Delhi under Section 10(46) of the Income Tax Act for specified income from 2018-2019 to 2022-2023.
CBDT grants tax exemption to Gujarat Water Supply and Sewerage Board, Gandhinagar under Section 10(46) of the Income Tax Act for specified income.
Notification under Section 10(46) IT Act: Income Tax exemption for State Load Despatch Centre Unscheduled Interchange Fund, WBSETCL for FY 2022-2023 and 2023-2024.
Over 34 lakh Audit Reports filed on the e-filing portal by October 7, 2024, showing a 4.8% increase from last year, according to the Income Tax Department.
ITAT Mumbai grants partial relief to Ramniklal & Sons in the bogus purchase case, directing reassessment based on judicial precedents.
Bombay High Court allows revision under Section 264, addressing double taxation and rejecting the need for a revised return under Section 139(5).
PCIT’s revisionary order under Section 263 was unjustified if PCIT failed to demonstrate how the original assessment was erroneous and prejudicial to the interest of revenue
Rajasthan High Court dismisses PCIT appeal under Section 263, citing tax demand below Rs. 2 crore in case of Pratap Technocrats Pvt Ltd for AY 2018-19.
The Karnataka High Court ruled that the BCI Chairman lacks authority to issue gag orders restricting advocates’ speech, quashing a 2024 gag order in a significant judgment.
