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Income Tax : ITAT Jaipur held that proceedings under Section 153C are invalid where the Assessing Officer merely reproduces information from th...
Income Tax : The Income Tax Department explains how CPC processes returns under Section 143(1) by correcting apparent errors and incorrect clai...
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 : 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 ITAT held that the Assessing Officer must clearly indicate whether the alleged default is under-reporting or misreporting, as ...
Income Tax : ITAT Ahmedabad held that the tax authorities failed to consider evidence of an earlier agreement and prior payments before invokin...
Income Tax : The ITAT Hyderabad held that an uncorroborated loose sheet could not justify an addition under Section 69 for alleged on-money pay...
Income Tax : The Calcutta High Court held that a sanction order must reflect consideration of the taxpayer's explanation and provide reasons fo...
Income Tax : ITAT Hyderabad held that the assessee was denied a fair hearing because appellate notices were not served in the mode opted in For...
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 Pune held that addition u/s 68 of the Income Tax Act merely on the basis of presumption or suspicion without any corroborated evidence is unsustainable.
ITAT Ahmedabad held that disallowance of loss on share on mere conjecture and surmises is unsustainable as assessee duly submitted all the evidences.
ITAT Mumbai held that the interest income earned by a cooperative society on its investments held with a cooperative bank would be eligible for claim of deduction under Sec.80P(2)(d) of the Income Tax Act.
ITAT Chennai held that UPS and Printers being part of a computer systems and hence eligible for higher depreciation at the rate 60%
Supreme Court in JCIT v. M/s. Chambal Fertilizers & Chemicals Limited held that the term tax under Section 40(a)(ii) of the Income Tax Act, 1961 should also include cess.
ITAT Delhi held that total allowance of the remuneration (including bonus) to the partners has to be within the permissible limit of provisions of section 40(b) of the Income Tax Act.
Delhi High Court held that circular/ instruction no. 5051 dated 07.02.1991 states that prosecution normally be not initiated against a person who has attained the age of 70 years at the time of commission of offence. However, petitioner cannot be permitted to take benefit of Circular/ Instruction No. 5051 dated 07.02.1991 to find an escape route for the wrong committed by him.
Chhattisgarh High Court held that the prosecution has miserably failed to prove that the appellant possessed properties disproportionate to his known source of income. Accordingly, appellant is acquitted of the charge under Sections 13(1)(e) read with 13(2) of the Prevention of Corruption Act and hence bail granted.
ITAT Mumbai held that Inland Haulage Charges forms part of income from operation of ships in international traffic and hence covered under Article-9 of India-France Tax Treaty is not taxable in India.
ITAT Mumbai held that interest income earned by co-operative society on its investment held with the co-operative bank would be eligible for claim of deduction under section 80P(2)(d) of the Income Tax Act.
