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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...
Explore the recent judgement of ITAT Pune in the case of Rupa Sanjay Nigade Vs ITO, where the Tribunal upheld the imposition of penalty under Section 271B due to non-audit of books of accounts.
ITAT Pune held that as per third proviso to section 56(2)(vii)(b), where the stamp value of the immovable property is disputed by the assessee on the ground mentioned in section 50C(2), the AO may refer the valuation of such property to the Valuation Officer. Accordingly, matter remanded.
An in-depth analysis of the Income Tax Appellate Tribunal (ITAT) Pune’s decision allowing cooperative societies to claim a tax deduction for interest income on surplus funds deposited in cooperative banks and scheduled banks under Sections 80P(2)(a)i) and 80P(2)(d) of the Income Tax Act.
ITAT Mumbai held that as conditions in second proviso to section 56(2)(vii)(b) satisfied, stamp duty as on the date of agreement would be compared with agreement value. Accordingly, since the stamp duty value is less than the agreement value, addition unsustainable.
ITAT Mumbai held that the income portion of the on-money is assessable in the year in which the sale of concerned flat is declared by the assessee.
Analysis of the recent ITAT Pune decision in the Mayur Wines Vs NFAC case, highlighting the importance of correct procedures in claiming partnership remuneration deductions under the Income Tax Act, 1961.
ITAT Mumbai held that the Revenue has failed to prove with any cogent evidence on record that the assessee was involved in converting his unaccounted money into long-term capital gains and short-term capital gains by conniving with any entry operator/exit provider. Accordingly, addition u/s 68 merely on the basis of suspicion unsustainable.
During the scrutiny assessment proceedings, the AO made an estimated addition to the household drawings as the assessee did not provide a plausible reply to justify the expenses considering their family’s constitution and standard of living.
Section 44AD of the Income tax Act is one of the most important sections which come in to use most frequently. There is a misconception / issue regarding the interpretation of the provisions of this section, regarding declaration of profits at minimum 8% / 6% rate even though the actual net profit earned is more.
Analyzing the Punjab and Haryana High Court’s decision to grant bail to Amrinder Singh in a tax evasion case, considering that the co-accused had already been granted bail.
