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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 Jodhpur ITAT held that deduction under Section 80GGC cannot be denied merely on allegations against a political party in the a...
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 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 dispute centered on unexplained investment taxed in an incorrect year. The Tribunal ruled that such an addition is legally unsustainable and must be deleted.
The exemption was rejected only due to delayed electronic filing of Form 10. The Tribunal ruled that procedural delay cannot override substantive compliance made before assessment completion.
The dispute concerned cancellation of IDS benefits due to non-payment. The Tribunal held that once IDS lapses, undisclosed income is taxable with mandatory penalty.
The dispute centered on whether appeals could be dismissed merely on filing a VSV application. The Tribunal ruled that rejection or non-approval of VSV keeps appeals alive.
The case involved alleged bogus purchases backed only by invoices and bank payments. The Tribunal held that without confirmations, transport evidence, or delivery proof, such purchases cannot be treated as genuine.
The issue was whether reassessment could be initiated while the time to file a belated return was still open. The Tribunal held such reopening premature and void, as income cannot be said to have escaped assessment.
The case involved a massive section 68 addition sustained solely due to non-admission of evidence under Rule 46A. The Tribunal held that procedural lapses cannot override substantive justice and remanded the matter for fresh adjudication.
Explains the shift from Assessment Year to Tax Year, simplifying compliance and reporting. Takeaway: Taxpayers can now file for the same year income is earned.
Explains how a properly structured HUF can access separate exemptions and threshold benefits. Takeaway: Formal setup and eligible funding are critical for compliance.
Explains source-based taxation for NRIs, highlighting taxable Indian income and compliance essentials. Takeaway: focus on India-source income and avoid reporting foreign earnings.
