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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...
In other words, in all instances of an assessing officer having to pass a fresh assessment order upon remand where section 153(2A) would apply, the assessing officer would be bound to follow the time-limit imposed by sub-section (2A). Where the assessing officer was only giving effect to an appellate order, then section 153(3)(ii) of the Act would apply.
In our view, no law prevents such a lump sum payment by a husband to his wife in lieu of her maintenance for the whole life. In the proviso to section 56(2)(vi) any sum received from a relative is exempt from tax. In the definition of relative, the receipt from whom is exempt under the Act, inter alia not only the spouse but the brother and sister of the spouse have also been included.
ITO Vs. Shreedham Construction Pvt Ltd (ITAT Mumbai) Section 68 casts the initial burden of proof on the assesse to show prima facie and to explain the nature and source of credit found in its When the statute places the burden of proof in income tax cases on the tax payer, it is understood to […]
Non-issue of notice u/s. 143(2) after filing of the return of the Assessee, by way of letter, makes the assessment order passed u/s. 143(3) r.w.s. 147 bad in law.
Intimation issued under section 143(1) cannot be treated as order of assessment and on the basis of such order the assessee denied his statutory rights to file a revised return within the period of limitation.
Merely because an even higher authority has expressed similar satisfaction does not obliterate the satisfaction of appropriate authorities.
What is contemplated by Section 263, is an opportunity of hearing to be afforded to the assessee. Failure to give such an opportunity would render the revisional order legally fragile not on the ground of lack of jurisdiction but on the ground of violation of principles of natural justice.
For the purposes of exercising jurisdiction under Section 263 of the Act, the conclusion that the order of the AO is erroneous and prejudicial to the interests of Revenue had to be preceded by some minimal inquiry. In fact, if the ld. PCIT is of the view that the AO did not undertake any inquiry, it becomes incumbent on the LD. PCIT to conduct such inquiry.
Section 9 of the Tamil Nadu General Sales Tax Act, 1959 is to the effect that a certificate of settlement issued under Section 8(1) of the Act shall be conclusive as to the dispute to which it relates to, and no matter covered by such certificate of settlement shall be re- opened in any proceedings of review or revision, or in any other proceeding, under the relevant Act.
Mahul Construction Corporation Vs. ITO (ITAT Mumbai) In this case The AO wants to tax the amount credited in capital a/c of retiring as well as continuing partners within the realm of 45(4) of the Act. So far as amount credited to capital a/c of retiring partners is concerned, notwithstanding the fact that there is […]
