Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax audit on income tax.
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 : Assessment orders passed pursuant to express liberty granted by the High Court during pendency of settlement-related litigation re...
Income Tax : The ruling emphasizes that undisclosed business receipts and stock arising from an existing business cannot automatically be chara...
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 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 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 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.
The court held that repeated resignation of key accounts staff constituted genuine hardship. Rejection of delay condonation under Section 119(2)(b) was set aside, directing acceptance of the belated return.
High Court held that a final assessment order passed without awaiting DRP directions violates section 144C. Such non-compliance rendered the assessment order non est and liable to be quashed.
The Tribunal examined whether a penalty could survive despite an allegedly vague notice. It held that since the assessment order and later notices clearly specified furnishing of inaccurate particulars, the penalty was valid.
The court ruled that invoking an inapplicable statutory provision vitiates revision. Proper identification of the governing section is mandatory before exercising revisional powers.
The High Court upheld the Tribunal’s decision restricting disallowance on alleged bogus purchases to 6 percent. It held that the issue was already settled in the assessee’s own earlier year and raised no substantial question of law.
The issue was whether religious objects alone could defeat an 80G claim. The Tribunal ruled that compliance with the 5% expenditure limit requires fresh examination.
The High Court held that jewellery seized during a search cannot be retained once tax liability is fully settled under the Vivad Se Vishwas Scheme. Continued detention after issuance of Form-5 was declared illegal.
The Court examined a reassessment initiation where the assessee was given less than 24 hours to respond. Holding this to be contrary to Section 148A(b) and natural justice, the order and notice were quashed.
The Tribunal examined how brought-forward losses should be computed for MAT purposes. It held that losses as on the end of the preceding year must be considered, not figures altered during the assessment year.
