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Income Tax : The article explains how residential status under the Income-tax Act and FEMA impacts taxation, foreign income reporting, business...
Income Tax : Failure to file ITRs can result in interest, late fees, loss of refunds, and missed tax benefits. Beyond taxation, it may also aff...
Income Tax : The provisions governing income tax refunds explain when excess tax paid can be claimed back, who is entitled to receive refunds, ...
Income Tax : A comprehensive overview of Income Tax Return filing obligations, due dates, belated and revised returns, updated return provision...
Income Tax : The document explains tax rates applicable to individuals, HUFs, firms, companies, co-operative societies, foreign companies, and ...
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 Karnataka High Court condoned the delay in filing appeals after noting that the issue relating to contributions under Section ...
Income Tax : ITAT Ahmedabad upheld reassessment proceedings after finding that seized diaries recorded unaccounted cash transactions exceeding ...
Income Tax : The Allahabad High Court quashed a reassessment after finding that the Section 148 notice was based on an incorrect allegation of ...
Income Tax : The Tribunal ruled that Section 153C requires the AO of the other person to independently assess whether seized documents have a b...
Income Tax : Jaipur ITAT held that reassessment proceedings were invalid because the Assessing Officer mechanically relied on Investigation Win...
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 Ahmedabad held that denial of exemption u/s. 10(23C)(vi) of the Income Tax Act justified as assessee trust having multiple objects doesn’t satisfy the condition of ‘solely for educational purposes’.
ITAT Jaipur held that assessee trust under the umbrella of Dayanand Saraswati University, Ajmer is genuinely performing its activities and objects of imparting education to the students coming off from poor or middle class families. Accordingly, denial to register the trust u/s 12AA of the Income Tax Act unjustified.
ITAT Delhi’s verdict on JBJ Technologies Ltd. Vs DCIT: Rectification under Section 154 of Income Tax Act can’t adjust prior period expenses.
Review of ITAT Mumbai’s ruling in Kamlesh Vasant Nerkar Vs CIT, emphasizing the need for AO to recognize income that has been adequately explained by the taxpayer.
In Sandip Chattopadhyay vs. ITO case, ITAT Kolkata ruled that deductions under sections 24(b), 80C, and 80D cannot be denied for not being claimed in ITR.
A detailed analysis of the Bombay High Court’s verdict in Mathuradas Narandas & Sons Forwarders Ltd. vs. CBDT, highlighting the significance of timely ITR filing.
An analysis of ITAT Delhi’s ruling in the Neeti Rastogi vs. ACIT case, emphasizing CBDT Circular’s role in defining unexplained jewellery under the Income Tax Act.
Through Income tax Act, 1961 cash transaction has been limited, restricted in certain cases. In this article you will get insights about how much you are allowed to transact in cash.
ITAT Mumbai held that interest paid on housing loan borrowed for purchase of flat is not allowable as cost of acquisition.
ITAT Delhi held that addition on the basis of fall in gross profits without pointing out any specific discrepancy in accounts that resulted into suppression of true figure of gross profit is unsustainable in law.
