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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 Mumbai held that rental income from giving out commercial properties for compensation as per Memorandum of Association (MOA) is to be treated as ‘business income’ and not as ‘income from house property’.
ITAT Ahmedabad held that only profit and gains derived from the incidental business of charitable-trust would qualify as income for computing statutorily allowed accumulation of 15% in terms of section 11(1)(a) of the Income Tax Act.
ITAT Chennai held that deduction under section 54 of the Income Tax Act restricted to only for one floor (3rd floor) as assessee failed to establish that two floors (3rd and 4th floor) is one residential house.
Appeals filed half a decade ago (and even a decade ago in some cases), are yet to decide the fate of the taxpayer who is anxiously anticipating a favourable outcome.
Section 139AA of the Income Tax Act provides that every individual who has been allotted a permanent account number (PAN) as on the 1st day of July, 2017, and who is eligible to obtain an Aadhaar number, shall intimate his Aadhaar number in the prescribed form and manner.
ITAT Delhi held that amount received on account of business support services cannot be treated as ‘Fees for Technical Services’ (FTS) under Article 12(5) of India Netherlands DTAA and hence addition towards the same unsustainable.
ITAT Delhi held that share application money received in cash for allotment of shares would not amount either to a loan or deposit within the meaning of Section 269SS of the Income Tax Act. Accordingly, penalty u/s 271D not leviable.
Undisputedly investment been made out of part of sale consideration. Therefore, simply because sale deed been executed subsequently, section 54F deduction cannot be denied
Paul Gerard Jenner Vs ITO (ITAT Dehradun) The appeal has been summarily dismissed by the ld. CIT(A) treating the appeal filed in manual Form as invalid and holding that the assessee was mandatorily required to file the appeal electronically. The assessee could not submit the appeal in electronic Form/online as it had to be verified […]
Parvatiya Plywood (P) Ltd. Vs ITO (ITAT Delhi) Assessee filed its return of income through e-mode on 30.09.2012 declaring NIL income. It is recorded by the Assessing Officer that the assessee has claimed deduction u/s 80IC of the Act, amounting to Rs.34,49,325/-. In respect of statutory notices, Ld.AR of the assessee attended the assessment proceedings. […]
