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Income Tax : Tax Audit Form 26 now requires reporting of both quantity and value of principal stock, purchases, and sales. The key takeaway is ...
Income Tax : This article examines whether educational institutions with receipts up to Rs. 5 crore must obtain RNPO registration to claim exem...
Income Tax : This article explains why ELSS redemption gains are taxable despite offering tax deductions at the time of investment. It highligh...
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 : 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 Delhi held that cash deposits arising from recorded and accepted cash sales cannot be added as unexplained cash credits under...
Income Tax : ITAT Mumbai held that Compulsorily Convertible Debentures cannot be equated with call options and that no option premium arose fro...
Income Tax : ITAT Bangalore held that RBI's classification of compulsorily convertible debentures as equity for FDI purposes cannot determine t...
Income Tax : ITAT Delhi held that no disallowance under Rule 8D(2)(ii) could be made where investments yielding exempt income were financed fro...
Income Tax : ITAT Mumbai held that Compulsorily Convertible Debentures retain their character as debt until conversion into equity. It deleted ...
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...
Read the full text of the ITAT Mumbai order in the case of Nikhil Suryakant Shah vs ITO. The ITAT has deleted the addition for deemed interest on a loan given by the director to the company. Get the analysis and conclusion here.
The ITAT Pune ruling confirms that payments made for admissions are not considered donations to a Charitable Trust, leading to an income tax addition. Explore the full analysis and implications of the judgment in this detailed review.
Read about ITAT Delhi’s important ruling in the Hyderabad Distilleries and Wineries Pvt Ltd case, confirming that income from lease rent and packaging charges in manufacturing services is treated as business income.
The recent ITAT Delhi decision in the case of Karamveer Singh Vs ITO emphasises the non-taxability of immovable property bought through funds gifted by relatives. Explore the case’s specifics, implications, and outcomes here.
Kapilaben Kanjibhai Patel Oral Specific Deferred Family Trust Vs ITO (ITAT Ahmedabad)- Case involves calculation of interest on income tax refund under Section 244A of Income Tax Act. ITAT remands matter back to Assessing Officer for proper verification and calculation.
ITAT Kolkata in the case of Cargo Handling Corporation Vs ITO examines disallowance made under section 40(a)(ia) of Income Tax Act for non-deduction of TDS on transportation charges. ITAT deletes the disallowance as the deductee has already paid tax on transportation charges.
Explore the details and implications of the Vikash Daga vs ACIT case, where ITAT Delhi upheld the right to claim foreign tax credit under Section 90, despite procedural anomalies. Understand the balance between procedural norms and substantive rights in the context of the Income Tax Act.
ITAT upheld the right of an individual to use personal savings, including those from a late spouse, for the repayment of a bank loan, and dismissed the claim that such actions constitute unexplained investment.
ITAT Visakhapatnam in case of Vishnu Srinivasa Rao Kakarla Vs ITO clarifies that AO cannot travel beyond his jurisdiction to verify cash withdrawals when limited scrutiny was for verifying cash deposits.
Detailed review of ITAT Delhi’s ruling in favor of the assessee, Tarik Tondon, where the reassessment order was cancelled due to lack of verification of the information which initiated the reopening.
