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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...
Where notice was not issued by assessing officer under section 143(2) before passing order under section 143(3) read with section 147, assessment made by him was bad in law. Provisions of section 292BB are not applicable where there is failure to issue notice under section 143(2).
The appellant, Income Tax Officer, Ward 2(4), New Delhi (hereinafter referred to as the Revenue) by filing the present appeal sought to set aside the impugned order dated 30-6-2014, passed by the Commissioner (Appeals)-V, New Delhi under section 143(3) of the Income Tax Act, 1961 (for short ‘the Act’) qua the assessment year 2010-11 on the ground that
Where material was found in course of search at third party assessee that assessee had claimed bogus expenditure of 1 crore, towards which assessee had surrendered Rs. 50 lakhs and for balance 50 lakhs, it failed to provide any evidence, then it was made clear that onus of showing that balance expenditure was justified, lay upon assessee. Since assessee failed to discharge onus, AO was justified in bringing to tax the said expenditure.
S.O. 3129(E).-In exercise of the powers conferred by clause (39) of the section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following as the international sporting event, persons and specified income for the purpose of the said clause namely
The financial information sought for in form 39A is an invasion of privacy. A lot of financial information is price sensitive for a listed entity and filing of such information would cause governance issues. The assessee would be providing information which has neither released to a Stock Exchange nor is in public domain and there is no guarantee that this information which is filed and lying in a folder will not be accessed in a price sensitive manner.
Income Tax Department is moving towards e-governance in all its functions including assessment and post assessment related activities. It desires that, there should be least or no personal interface with the taxpayers in these proceedings. That means, all the communication between the department and the taxpayers would have to be mainly through e-mail & SMS […]
On 22nd September 2017 to further terrorise the taxpayers and Professionals Income Tax Department has come up with a new requirement by which it has specified that from now onwards a Mobile number and Email address could be used only for three Income Tax Accounts instead of current limit of 10 accounts. Due to such […]
It is seen that till 25-09-2017, notices have not been issued in 2285 cases. These 2285 cases include 8 cases which are lying with inactive codes.
The facts giving rise to Civil Appeal No. 9178 of 2012 and 9180 of 2012 needs to be briefly noted. Several writ petitions were filed before the Calcutta High Court questioning the vires of Section 115-O of the 1961 Act. The petitioner’s case in the writ petition is that the petitioner is a Tea Company which cultivate tea in gardens and processes it in its own factory/plants for marketing the same.
An Open Letter to Income Tax Department (Systems) regarding difficulties faced by Chartered Accountants and Tax Practitioner Fraternity for updating details in the Income Tax website.
