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Income Tax : The article explains how the Finance Acts, 2025 and 2026 have reshaped the Updated Return regime under Section 139(8A). It highlig...
Income Tax : The Supreme Court has remitted reassessment cases for fresh consideration after the retrospective insertion of Section 147A, leavi...
Income Tax : Learn the most frequent errors taxpayers make while filing Income Tax Returns for AY 2026-27 and how avoiding them can prevent not...
Income Tax : The article explains how the interaction of Section 87A, marginal relief, and Health & Education Cess can leave taxpayers earning ...
Income Tax : Learn who can apply for an advance ruling, applicable fees, withdrawal rules, and its binding effect under the Income-tax Act. The...
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 Court rejected the challenge to the search conducted under Section 132 and upheld the legality of the search proceedings. It, ...
Income Tax : The Tribunal held that the reassessment was invalid because the Income Tax Officer lacked pecuniary jurisdiction where the returne...
Income Tax : The Tribunal held that the assessment was invalid because the Assessing Officer having jurisdiction failed to issue the mandatory ...
Income Tax : The ITAT Kolkata held that the reassessment was invalid because the ACIT lacked pecuniary jurisdiction and completed the assessmen...
Income Tax : The ITAT Kolkata held that the assessments were invalid because the ACIT was not shown to have jurisdiction under CBDT Instruction...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
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...
The Apex Court’s land mark ruling has once again affirmed the principle of ‘Purpose Test’ which determines whether the expenditure is capital in nature or revenue in nature; and the form of mechanism through which the subsidy is given, the point of time at which the subsidy is paid and the source of subsidy is immaterial.
Where revision petition was filed by assessee in respect of its individual and also for firm’s return to claim expenses in firm’s return which were claimed in its personal return, CIT was not justified in dismissing revision application without looking into the matter, therefore, it was remanded back to CIT to consider afresh.
Sunbeam Auto Private Limited Vs Pr. CIT (Delhi High Court) 1. These four writ petitions are by Sunbeam Auto Private Limited seeking inter alia the quashing of an order dated 30th March 2015 passed by the Principal Commissioner of Income Tax-8 (Pr CIT) under Section 264 of the Income Tax Act, 1961 (‘Act’), dismissing the […]
While dismissing the appeal of revenue, the New Delhi bench of Income Tax Appellate Tribunal in its recent order allowed a claim of expenditure by a Company for traveling expenses incurred on behalf of its Associated Companies.
IT authority has no option/jurisdiction to meddle in the matter either by directing the assessee to maintain its accounts in a particular manner or adopt a different method for valuing the work-in-progress.
Since, the determination of arm’s length price in the appeal effect order has not lead to any transfer pricing adjustment, with no effect on income of the assessee, hence, penalty provisions are not applicable in this case, therefore, we cancel the orders of the authorities below thereby deleting the penalty in dispute.
ITAT Ahmedabad ruling on Ankur Scientific vs Dy. CIT case. Assessment of share gains as business income challenged. Disallowance of weighted deduction contested.
Quashing the orders of the Financial Commissioner and the Excise Commissioner, the Delhi High Court held that the mere fact that the vehicle was used to transport liquor would not be sufficient for confiscating the same if the owner of the vehicle is able to establish that he/ she was not involved in the offence.
Explore ITAT Mumbai’s order on Apax Partners India vs. DCIT regarding transfer pricing, legal fees, and travel expenses. Key insights on taxation under section 40(a)(ia)
Income Tax Appellate Tribunal (ITAT), Rajkot bench, while allowing the assessees’ appeal, held that the sale of land cannot be treated as business activity for the purpose of levying income tax even though there is a higher volume of sale consideration.
