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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 : Form 16 and Form 16A serve distinct purposes under the TDS framework, with Form 16 relating to salary income and Form 16A covering...
Income Tax : Permanent Account Number (PAN) serves as a unique identifier enabling the Income-tax Department to track tax payments, returns, TD...
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 Tribunal ruled that the guideline value recorded in a registered document is not conclusive for computing capital gains if the...
Income Tax : The Rajasthan High Court held that an order restoring appeals through review proceedings is not separately appealable under the Be...
Income Tax : The Tribunal found that the authorities below failed to properly apply the principles governing section 80P deductions relating to...
Income Tax : The ruling emphasizes that undisclosed business receipts and stock arising from an existing business cannot automatically be chara...
Income Tax : Addition of ₹90 lakh made under section 69A towards alleged cash payment for purchase of property as well as the addition made u...
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 Supreme Court held that failure to issue a Section 21 notice does not invalidate arbitration where parties intended to arbitrate all disputes. The ruling clarifies that Section 21 is procedural, not jurisdictional.
Patna High Court held that judgement of conviction of Tax Assistant for accepting bribe to process income tax refund and order of sentence is justified and legal since the prosecution has proved all core points of prosecution story.
The message outlines readiness for the Income-tax Act, 2025 through training and system upgrades. The key takeaway is a focused transition built on clarity, capacity building, and taxpayer guidance.
ITAT Mumbai held that TDS credit duly reflected in Form 26AS cannot be denied just because of some procedural lapse. Accordingly, order is set aside and the present appeal is allowed.
The issue concerned whether deductions under section 80GGC could be denied solely on investigation inputs alleging accommodation entries. It was held that such information is only a trigger for enquiry, not conclusive proof. The key takeaway is that disallowance requires assessee-specific evidence and compliance with natural justice.
The Tribunal found that CIT(A) erred by linking the protective addition to another company. The assessment was remanded for correct identification of the beneficiary.
The government notifies a statutory industrial authority under section 10(46A) of the Income-tax Act. The ruling confirms eligibility while making compliance with the parent State Act a continuing condition.
The CBDT notified a statutory development authority for income-tax exemption under Section 10(46A), effective from AY 2025–26, subject to continued statutory functions.
The ruling highlights that immunity under DTDRS is general to penalty proceedings. Consequently, revising penalties merely because a different section might apply is impermissible.
The Revenue sought to tax total on-money collected under section 69A. The ITAT ruled that on-money forms part of business receipts and must be assessed on a profit basis. The key takeaway is that taxation cannot ignore unaccounted expenses linked to such receipts.
