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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 Delhi held that post amendment by Finance Act, 2012 which is effective from 1st April 2013, the exemption u/s 54B of the Income Tax Act is also available to HUF.
The ITAT Delhi has dismissed the Revenue’s appeal in the case of ACIT vs. Cogent Realtors Pvt. Ltd. The appeal was dismissed based on the lack of jurisdiction under Section 153C of the Income Tax Act due to the absence of incriminating material. The disallowance made by the Assessing Officer was also found to be unsustainable.
ITAT Pune upholds penalty under Section 271B against Santosh Swarupchand for not filing an audit report, citing contradictions in an accountant’s affidavit.
In a recent case, the ITAT found that the assessee did not receive a fair opportunity to represent its case before the first appellate authority due to circumstances beyond its control. As a result, the ITAT set aside the first appellate authority’s orders and restored the matters for a fresh decision.
In a recent case (Howrah Improvement Trust vs. DCIT) heard by ITAT Kolkata, the addition of government grants as corpus or income was deleted.
In a recent case (DCIT vs. Religare Finvest Ltd) heard by ITAT Delhi, it was ruled that lessor is entitled to claim depreciation on leased assets under a finance lease agreement.
ITAT Mumbai held that FCCB i.e. Foreign Currency Convertible Bond expenses included as part of FCCB premium expenses is allowable.
Explore the outcome of Ramabhai Kanjibhai Patel vs DCIT where the ITAT Surat negates penalty under Income Tax Act Section 271(1)(b) when the assessment gets completed under Section 143(3).
ITAT Kolkata held that AO failed to make required enquiries to go into the question of valuation of shares given by the accountant for the purpose of assessment of income as per provisions of section 56(2)(viib). Accordingly, revisionary power under section 263 rightly invoked.
A deep dive into the Kute Sons Dairys Ltd Vs PCIT case, highlighting implications of an assessment completed without proper inquiry and legal justifications for invoking revision u/s 263.
