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Income Tax : Learn how the increased Rs. 1.25 lakh exemption and 12.5% LTCG tax rate apply to listed shares and equity mutual funds. The guide ...
Income Tax : The Income Tax Department explains how the e-Verification Scheme addresses mismatches between reported financial transactions and ...
Income Tax : This article examines conflicting judicial views on whether capital gains exemption is available when a new residential house is p...
Income Tax : This guide explains how Section 43B(h) defers tax deductions where payments to Micro and Small Enterprises remain unpaid beyond th...
Income Tax : The case highlights denial of TDS credit after an incorrect TAN was reported in the income tax return, even though the correct TDS...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
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 : ITAT Bangalore held that reassessment cannot survive where the Assessing Officer makes no addition on the very issue for which the...
Income Tax : ITAT Bangalore held that a ₹5 lakh investment could not be treated as unexplained under Section 69 where documentary evidence sh...
Income Tax : ITAT Bangalore held that a genuine claim of application of income supported by documentary evidence cannot be denied merely becaus...
Income Tax : ITAT Bangalore held that where the assessee disputed the stamp duty valuation and furnished a registered valuer's report, the Asse...
Income Tax : ITAT Bangalore held that once a search under Section 132 was conducted, the assessment for the relevant year had to proceed under ...
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 Income Tax Appellate Tribunal (ITAT) Delhi has ruled in favor of Aman Kumar Jain against the Income Tax Officer, permitting rent paid to a wife as eligible for HRA deduction under section 10(13A) of the Income Tax Act.
Read the full text of the order of ITAT Jaipur in the case of Lalit Kumar Kalwar Vs ITO. The quantum appeal is allowed, and the deduction under Section 54F is granted, resulting in the penalty being vacated.
The Calcutta High Court rejects a writ petition challenging a tax assessment order, reaffirming that a Writ Court does not act as an assessing officer or an appellate authority
As businesses expand across multiple locations and involve various users in their operations, ensuring compliance for TDS (Tax Deducted at Source) and TCS (Tax Collected at Source) becomes increasingly complex.
Analyze the case of PCIT Vs Indravadan Jain, HUF in the Bombay High Court, where the issue of addition u/s 68 for penny stock transactions was examined. Discover how documentary evidence played a crucial role in the court’s decision.
The issue under consideration is that whether the assessee is required to demonstrate commercial expediency during each year concerning a loan which was availed during previous year relevant to A.Y. 2005-06.
The ITAT Bangalore in the case of Suresh Sharma vs ITO reaffirms the principle that penalty proceedings under Section 271A of the Income Tax Act cannot be initiated if the Books of Account are properly maintained
The Ministry of Finance has issued Notification No. 52/2023-Income Tax, Dated : 20th July, 2023 under section 10(34B) of the Income Tax Act, 1961. The notification provides an income tax exemption for dividends from aircraft leasing within International Financial Services Centres (IFSC). The notification specifies that no income tax deduction shall be made from any dividend income paid by […]
Explore the ITAT Chennai ruling in the V.K. Sasikala vs DCIT case, where the importance of tangible new material in reassessment proceedings has been underscored. Learn how the tribunal’s decision impacts the treatment of reassessment cases in Indian Tax Law.
ITAT Delhi held that huge amount as interest free advances given to company which is neither relative/ partner nor connected with Assessee based on MOU which is neither on stamp paper nor stamped or registered creates a reasonable doubt. Matter remanded for further inquiry.
