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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 : The ITAT Mumbai held that cash deposits during the demonetization period could not be treated as unexplained where the assessee's ...
Income Tax : ITAT Bangalore held that TDS credit cannot be denied merely because it was omitted in the original income tax return. The Tribunal...
Income Tax : ITAT Bangalore held that an assessment order passed in the name of an amalgamated bank after it had ceased to exist is void ab ini...
Income Tax : The Tribunal ruled that filing a return in response to Section 148 does not cure the failure to file the original return within th...
Income Tax : ITAT Bangalore held that Section 154 cannot be invoked to make a fresh disallowance of an asset write-off claim that was never exa...
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...
Telangana High Court allowed credit for advance tax and TDS resulting into refund of Rs. 51.66 Crores on upload of migration order which was earlier not able to be uploaded.
ITAT Mumbai held that as the assessee ceases to be an ‘eligible assessee’ under provisions of section 144C of the Income Tax Act, extended time limit for assessment is not available to AO. Accordingly, order of TPO is barred by limitation.
ITAT Delhi held that addition under section 68 of the Income Tax Act unsustainable in as much as identity, creditworthiness of the creditors and genuineness of the transaction duly proved by the assessee.
In present facts of the case, the Hon’ble Tribunal held that expenses made pertaining to Club Membership fees shall be allowed as business expenditure.
ITAT Delhi held that reassessment order u/s 147 of the Income Tax Act against a non-existent entity is bad in law and vitiated & nullity.
The reassessment notice issued under Section 148 of the Income Tax Act, 1961, concerning the information of alleged bogus political donations, has been challenged on the grounds of exceeding the limitation period. The High Court has instructed the Assessing Officer (AO) to refrain from passing the assessment order.
ITAT Delhi held that addition made by the A.O. in the absence of any incriminating material found during the search operation conducted u/s 132 of the Income Tax Act is liable to be deleted.
ITAT Mumbai held that reasonable amount of addition should be made in case of bogus purchase. Accordingly, CIT(A) has justifiably made addition on the reasonable estimate basis @ 5% of the bogus purchase.
ITAT Delhi held that reopening of assessment under section 147 of the Income Tax Act unjustified in absence of failure on the part of the assessee to disclose fully and truly all the material facts.
ITAT Delhi held that penalty u/s 271D of the Income Tax Act is without any satisfaction and, therefore, no such penalty can be levied. Accordingly, penalty u/s 271D quashed.
