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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 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 : ITAT Bangalore held that the Income-tax Act does not prohibit a charitable trust from filing a second application for registration...
Income Tax : ITAT ruled that the reassessment order passed under Section 147 was unsustainable as it exceeded the limitation period prescribed ...
Income Tax : ITAT Bangalore deleted the penalty under Section 270A after holding that the assessee's incorrect claim arose from a bona fide mis...
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 Chennai held that provisions of section 73 doesnot apply in view of specific exclusions of the arbitrage/jobbing transactions from the purview of speculative transaction u/s 43(5) of the Income Tax Act.
ITAT Delhi held that addition towards unexplained jewellery unsustainable as panchnama clearly mentions the fact that ownership of jewellery belongs to various people.
Read the full text of the judgment in the case of Ashok Kumar Sinha vs ACIT, where the Delhi High Court sets aside the assessment order and notices issued under the Income Tax Act, directing a re-examination of the material provided by the petitioner and a fresh assessment by the Assessing Officer.
Calcutta High Court held that though the official liquidator is now in-charge of the affairs of the company, the petitioners being the erstwhile directors are to assist the official liquidator in affairs of the company even after winding up.
The recent ITAT ruling underlines that the deductions under sections 80IA/80IB should be subtracted from business profits when computing the deduction U/S. 80HHC. This is a comprehensive review of the case ITO vs Madhusudhan Industries.
ITAT Surat held that the delay in filing appeal before ld CIT(A)/ NFAC is not deliberate or intentional or gross negligence on part of assessee and hence the same is condoned.
ITAT Pune discussed the cost of acquisition of two plots allotted against compulsory acquisition of land. Matter remanded in absence of availability of figures of fair market value of two plots which is cost of acquisition in second transaction.
ITAT Delhi held that order of the ld. PCIT passed in haste without verification of factual material, as amount alleged was in Crores as against actual transactions in Lakhs, is unsustainable.
ITAT Delhi held that strategic investments not yielding any exempt income during the year under consideration, the same cannot form part of the average value of investment for computing disallowance under rule 8D(2)(iii) of the Income Tax Rules.
ITAT Chandigarh held that mere non-furnishing of copy of registration u/s 12A cannot be held as a valid and justifiable reason for denial of exemption u/s 11 of the Act where such registration continues to exist and the assessee trust duly stand registered u/s 12A for the year under consideration.
