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Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...
Income Tax : The article outlines practical methods through which business owners and professionals can legally minimise their tax burden. It h...
Income Tax : Section 54 grants exemption on long-term capital gains from the sale of a residential house because the proceeds are reinvested in...
Income Tax : The Income-tax Act mandates e-payment of direct taxes for companies and taxpayers covered under Section 44AB, while others may opt...
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 : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The ITAT Pune held that the CIT(A)/NFAC cannot dismiss an appeal merely for non-prosecution without adjudicating the issues on mer...
Income Tax : The Telangana High Court held that Section 254(2) of the Income-tax Act is confined to rectifying mistakes apparent from the recor...
Income Tax : The Telangana High Court held that reassessment proceedings initiated under Sections 148A and 148 by the Jurisdictional Assessing ...
Income Tax : The Tribunal held that section 50 merely prescribes a special method for computing gains on depreciable assets and does not conver...
Income Tax : The Tribunal held that when sales are accepted and books of account are not rejected, the entire amount of disputed purchases cann...
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 case examined whether short delays in filing mandatory exemption forms during the pandemic could be condoned. The High Court held that minor delays caused by COVID-19 were condonable and directed reprocessing of the return with exemption benefits.
The Tribunal held that a deduction cannot be disallowed merely due to delayed filing of Form 10CCB when it was available before processing. Procedural delay does not defeat a valid deduction claim.
Since the statutory notice under section 143(2) was issued by a non-jurisdictional officer, the assessment collapsed. The ruling affirms that valid notice by the competent authority is a sine qua non.
The Tribunal ruled that additions made on issues beyond limited scrutiny were without authority since proper conversion to complete scrutiny was not followed. The key takeaway is that violating CBDT instructions renders the entire assessment void.
The Court held that employees cannot be held liable for TDS non-deposit when the employer deducts it. The AO must decide representation considering CBDT circular guidance.
The Tribunal ruled that estimating higher profit without rejecting audited books or finding major defects is impermissible. The declared 7% margin was accepted as reasonable, emphasizing limits on ad-hoc profit estimation.
The Tribunal held that DEPB income forms part of operating export income and cannot be excluded from turnover merely on a different view. Revision under section 263 was found unjustified where the original assessment involved due application of mind.
The High Court held that refunds cannot be adjusted against a demand already stayed by the Assessing Officer. It directed refund of amounts adjusted despite the assessee being treated as not in default.
The Tribunal held that reopening based only on generalized information about a scrip, without independent inquiry or linkage to the taxpayer, is invalid. Entire addition on alleged bogus LTCG was deleted.
The High Court stayed reassessment proceedings after noting that the legality of Section 148 notices is under consideration before the Supreme Court. The key takeaway is that proceedings must await the apex court’s final ruling.
