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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...
The ITAT Nagpur discusses capital gains tax implications in ACIT Vs KSR Transport, highlighting issues in assessment and re-assessment procedures.
The ITAT Nagpur overturned an income tax disallowance in Ghalani’s case due to late filing of Form 15G/H, citing valid legal grounds.
ITAT Nagpur quashed the penalty on Ravindra Kharche, finding no misreporting of income due to bona fide claims regarding gratuity exemption.
Explore the Bombay High Court ruling on reassessments under the Income Tax Act, clarifying jurisdiction between JAO and FAO in the Hexaware Technologies case.
ITAT Mumbai remands case of Aravind Arunachalam Vellore against ITO for lack of proper notice and communication during appeal process.
Hon’ble ITAT Pune rules that penalties under Section 271(1)(c) should not be imposed for genuine mistakes or debatable claims in tax assessments.
The Supreme Court upholds TOLA, validating extended income tax reassessment timelines despite previous High Court rulings on Section 148 notices.
Present application has been filed on behalf of Taxation Bar Association seeking modification of Para 35(11.17)(iv) of the judgment dated 19th March, 2024 insofar as it requires twelve appearances in a year to be eligible to vote in elections.
Bombay High Court remanded the matter of correct treatment of losses arising due to exchange rate fluctuation since order doesn’t deal with import of Section 43A of the Income Tax Act and its interplay with section 37(1).
The Supreme Court ruling in UOI vs. Rajeev Bansal clarifies reassessment provisions post-April 2021 under Income Tax Act, extending time limits via TOLA.
