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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...
ITAT Ahmedabad confirmed addition on account of bogus long term capital gains from transaction in penny stock observing that mere filing documentary evidences did not discharge onus cast on the assessee to prove genuineness of the transaction.
A comprehensive review of the landmark decision by ITAT Delhi in the SFS Infinite Ltd Vs DCIT case, examining the quashing of reassessment based on insufficient and obscure information.
Analyzing ITAT Chennai’s decision in the S. Saroja Vs DCIT case, focusing on the ruling that no penalty should be levied for inadvertent mistakes in reporting house property value by an accountant.
Discover essential FAQs about filing Form 10IE for opting the new tax regime. Learn about deadlines, mandatory requirements, consequences of non-filing, and solutions to common submission issues. Ensure a smooth income tax return process.
ITAT Mumbai held that composite rental income received by letting out school building with infrastructure and amenities is taxable under the head ‘Income from House Property’ and not under ‘Income from income from other sources’ in view of section 56(2)(ii) of the Income Tax Act.
A comprehensive analysis of ITAT Pune’s landmark judgement in the Subhash Devidas Mind Vs PCIT case, wherein a revision order passed during the Covid-19 pandemic was quashed.
Gain insights into the landmark ruling by the Calcutta High Court in SKP Infrarealty Pvt Ltd. & Anr vs Union of India case, regarding non-participation in income tax proceedings and the principle of natural justice.
Explore the Ahmednagar Investments Pvt. Ltd. vs DCIT case where the ITAT Mumbai rejected the claim of LTCG under section 10(38) due to the non-submission of documents, subsequently quashing the order.
ITAT Mumbai held that addition u/s 115BBE of the Income Tax Act unsustainable as present case doesn’t involve invocation of any of the sections i.e. section 68, 69, 69A, 69B, 69C & 69D of the Income Tax Act.
ITAT Delhi held that difference between service tax return and the revenue was occurred due to the wrong exchange rate applied to export income transaction while filing the service tax return. Hence, mere mistake in the service tax return does not mean that the income of the assessee has been suppressed.
