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Income Tax : Income may become tax-free under the new tax regime because of the standard deduction and Section 87A rebate, but ITR filing may s...
Income Tax : This article explains the key situations where filing an Income Tax Return is compulsory, even if income is below the basic exempt...
Income Tax : Learn about the income tax benefits available to resident senior and very senior citizens, including higher exemption limits, dedu...
Income Tax : Learn how different types of income tax assessments are conducted under the Income-tax Act. The FAQs explain assessment procedures...
Income Tax : This guide explains the taxation of capital gains, computation methods, capital assets, and transfer provisions under the Income-t...
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 Pune held that the reassessment proceedings were invalid because the notice under Section 148 was approved by the Principal C...
Income Tax : ITAT held that interest earned by a co-operative credit society from deposits with a co-operative bank remained attributable to it...
Income Tax : Bangalore ITAT held that allegations of capitation fee collections could not justify denial of exemption under Sections 11 and 12 ...
Income Tax : ITAT Pune held that reassessment proceedings were invalid because the approval under Section 151 was granted by the Principal Comm...
Income Tax : ITAT Delhi held that Section 56(2)(viib) could not be invoked where shares were allotted at a premium to a 100% holding company. T...
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...
The issue under consideration is whether the assessment order passed without serving of the notice u/s 143(2) on correct address as mentioned in ITR is considered as Valid order?
ITAT hold that payment of TDS by the assessee would relate back to the date of presentation of cheques by the assessee to the banker. Accordingly, TDS-CPC, Ghaziabad is directed to revise the aforesaid intimation by taking the date of tender of cheques by the assessee as the actual date of payment and re-compute interest payable by the assessee, if any. The interest demand u/s 220(2) being consequential in nature, may also be recomputed. Resultantly, the appeal filed by the assessee allowed.
TPO has not given any finding on the No. of days delay in receivables. As submitted by the learned AR, the delay was less than 90 days and the industry acceptable period of average is 90 days. The Coordinate Bench of the ITAT in assessee’s own case for the A.Y 2013-14 has taken view that no adjustment is required if the delay is between 90 to 120 days.
The issue under consideration is whether the investment made on renovation of new residential house is eligible for exemption u/s 54F?
Juveria Begum Vs ITO (ITAT Hyderabad) Section 54F of the Act only mandates that the capital gain should be invested in ‘a residential house’ within the stipulated time by way of purchase or construction. Thus, the amount spent on renovation of such residential house by an assessee according to his requirements is also allowable as […]
CBDT had earlier this month notified the National e-Assessment Centre (NeAC) for all communications with the taxpayers under the faceless assessment scheme. Under the new system, taxpayers need to not to physically visit their regional jurisdiction tax officers or the IT department on receiving income tax scrutiny or assessment notices. The CBDT has also notified that the cases related to domestic […]
Maruti Suzuki India Ltd Vs CIT (Appeals) (ITAT Delhi) The Honorable Delhi ITAT recently adjudicated an appeal filed in the case of Maruti Suzuki India Ltd vs Commissioner of Income Tax (Appeals)-IX (ITA No. 2553, 2641/Del/2013) wherein the case before the Tribunal was related to the provisions of section 244A of the Income Tax Act. Post […]
The DC further finds that despite the IBBI Circular No. IBBI Circular IBBI/RV/019/2018 dated 17th October 2018 (which came into effect from 1st February 2019) which clearly states that no person other than a RV will be appointed to conduct valuation under the Code, and Circular dated 13th August 2019 that such appointment is illegal, […]
Jairam G Kimmane Vs DCIT (ITAT Bangalore) In the present case, the claim of the Assessee that agricultural operations were carried out over the property and the property was actually used for agricultural purpose was sought to be established by relying on the classification of the property in revenue records. The Revenue contends that there […]
Where State Government was extending cash subsidy to assessee for print and sale of text books at low rates to reach children of deprived sections of society, considering fact that assessee was carrying on the activity which squarely fell within the definition of section 10(15) (charitable purpose) and was dependent upon finance of the State, assessee was eligible for deduction under section 10(23C)(iiiab).
