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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...
Transindia Freight Services Pvt. Ltd Vs DCIT (ITAT Mumbai) ITAT held that going by the principle of consistency in the stand taken by the Revenue in earlier as well as subsequent assessment years in scrutiny assessment proceedings, we hold that the income received from car rental of Rs.6,00,000/- is to be assessed as “income from […]
Orissa High Court held that cancellation of last pay certificate without clear and unambiguous reasons and not based on any evidence is liable to be quashed.
ITAT Mumbai held that the assessment order passed in variation of the procedures prescribed u/s. 144B of the Income Tax Act would render the assessment order as non est.
ITAT Mumbai held that that the ‘marked to market loss’ is not a notional loss and is, therefore, allowable expenditure.
ITAT Pune held that default in allotting ‘DIN and Order’ results into quashing of the impugned assessment as according to CBDT circular no. 19/2019 dated 14.08.2019 such an order ought to be treated as to have never been issued herein.
ITAT Delhi held that amount received from sale of software (i.e. copyrighted article) cannot be treated as royalty under Article 12(3) of India-USA DTAA.
ITAT Delhi held that amount received by the assessee from providing SAP support services and IT support services is not covered within the purview of Fees for Technical Services (FTS) and hence not taxable in India in absence of permanent establishment.
ITAT Delhi held that the amount of received in the arbitration settlement is related to project office of the assessee company in India. Accordingly, the same is taxable in India.
ITAT Chennai held that exemption under section 54F of the Income Tax Act duly available towards purchase of undivided share of land.
ITAT Mumbai held that while determining the amount of deemed dividend under Explanation 2 to Section 2(22)(e) of the Income Tax Act, the current profit is not to be included to be part of accumulated profit.
