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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...
ITAT held reassessment invalid as it was initiated merely on Insight Portal data and third-party statements without verification or application of mind.
“Processing held” is a risk-based flag, not a notice. Taxpayers should review and correct discrepancies within the defined window to avoid delays and compliance issues.
Losing an appeal at CIT(A) is not the end—ITAT examines law, evidence, and procedural fairness, often granting relief where the first appeal failed.
This explains the legal requirement to link PAN with Aadhaar and the consequences of non-compliance. The key takeaway is that an unlinked PAN can become inoperative, disrupting tax filings and refunds.
ITAT Mumbai (E Bench) in Estate of Vandravan P. Shah vs ACIT (ITA Nos. 5401, 5402 & 5403/Mum/2024; AYs 2011-12, 2012-13 & 2017-18; order dated 23.12.2025) has partly rejected the assessee’s jurisdictional challenge and upheld the validity of reassessment proceedings initiated and completed in the name of the deceased through legal representative u/s 159, while also sustaining the disallowance of deduction u/s 35AC on alleged bogus donation to Navjeevan Charitable Trust.
ITAT deleted additions as alleged cash jewellery purchases were based solely on third-party material without granting cross-examination or furnishing full evidence.
Once the Bombay High Court has quashed the reassessment notice u/s 148 and all consequential proceedings, the Revenue’s challenge to deletion of deduction u/s 80IB(10) becomes purely academic.
The ITAT held that reassessment notices issued by a JAO after 29.03.2022 are void, as only a Faceless Assessing Officer can act under the faceless regime.
Covers the latest cash withdrawal, deposit, and loan limits. Takeaway: exceeding thresholds can trigger TDS, penalties, and blocked deductions.
This explains why FD reporting to tax authorities and TDS on interest follow different thresholds. The key takeaway is understanding bank-wise limits prevents confusion and unnecessary follow-ups.
