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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 Tribunal held that Schedule-I of ITR-7 applies only to amounts accumulated under Section 11(2) and not to deemed application u...
Income Tax : The High Court held that the CIT(A) admitted additional evidence without recording reasons in writing and without giving the Asses...
Income Tax : The ITAT held that a penalty under Section 271AAB cannot survive where the show cause notice fails to specify the exact statutory ...
Income Tax : ITAT Hyderabad held that gold deposit agreements produced after the survey, without contemporaneous evidence or book entries, coul...
Income Tax : The ITAT held that the addition under Section 69A could not be sustained as the assessee had produced land records, agricultural s...
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...
Shri A.K. Jain, Member, CBDT to discharge the duties and responsibilities of the post of Chairperson, CBDT in addition to his own duties; Ms. Anita Kapur, Chairperson, CBDT who is superannuating today, is appointed as Adviser on Tax Reforms for a period of six months
In the case of Suvaprasanna Bhatacharya vs ACIT, ITAT Kolkata held that although the satisfaction need not be recorded in a particular manner but from a reading of the assessment order as a whole such satisfaction should be clearly discernible.
In the case of M/s A.V. Industries vs ACIT, Mumbai Tribunal held that when the assessee shows from the record that the necessary enquiries were made by the AO and the AO had applied his mind and the view adopted by him was one of the possible views
In Mohan Jhangiani vs ACIT, Kolkata Tribunal held that Non-consideration of the relevant provisions of the Act while forming a belief that income has escaped assessment is not permissible as per law. Further, the assumption of jurisdiction u/s 147 by the Learned AO
In the Case of ACIT vs Sri Pawan Kumar Jhunjhunwala, ITAT Kolkata held that solicitor is the agent of the client. The client makes over the money to the solicitor for some work being done by the solicitor as his agent.
In the case of ITO vs Snowtex Investment Ltd, the Kolkata Tribunal held that the claim of the assesse for set-off of loss from share dealing should be allowed from the profits from F&O in share transactions, the character of the income being the same and before application of the Explanation
The ITAT Bangalore in the case of M/s Sai Bhagwan Traders vs. ITO held that unaccounted purchases cannot be added to the total income as unexplained investments when there was no discreoency found in stock records.
ITAT Delhi held In the case of Sh. Haripal Singh vs. ACIT that it is settled legal position that that there is no estoppels in law. If in law an item is not taxable, no amount of admission or misapprehension can make it taxable.
ITAT Bangalore held In the case of DDIT (Exemptions) vs. Ohio University Christ College that it is not disputed that the services have been rendered by the faculty members from Ohio University in India as the classes were taken in Bangalore.
ITAT Amritsar held In the case of M/s Aaren Exports vs. DCIT that a Keyman insurance policy is to enable business organizations to insure the life of a Keyman in order to protect the business against the financial loss which may occur in the likely eventuality of premature death.
