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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 Delhi High Court rejected the Revenue’s transfer pricing appeals, holding that no substantial question of law arose. The ruling followed earlier decisions on identical issues for prior years.
The ITAT held that land-levelling and fencing expenses are integral to acquiring agricultural land and qualify for section 54B deduction. The ruling clarifies what constitutes eligible investment despite restricting unregistered costs.
The issue was whether penalty for misreporting could be levied when income was disclosed but offered under an incorrect head. The Tribunal held that such a classification dispute does not amount to misreporting and deleted the penalty.
The Court rejected the argument that goodwill payments amounted to prohibited fee sharing and dismissed the Revenue’s appeals.
Noting that exemption was allowed in multiple subsequent years on identical facts, the Tribunal rejected the Revenue’s stand. The addition and denial of exemption were accordingly set aside.
The Bombay High Court stayed the entire tax demand after finding that authorities taxed gross receipts without deducting expenditure. The ruling reiterates that only real income can be brought to tax.
The ITAT held that taxing only TDS credit, while leaving the underlying undisclosed commission untaxed, is a patent error. Section 263 revision was rightly invoked to protect revenue.
The ITAT held that revision under Section 263 was invalid because the Assessing Officer had conducted detailed enquiries into goodwill depreciation. A plausible view taken after scrutiny cannot be branded as erroneous.
ITAT held that arm’s length price for electricity supplied to related entities must be benchmarked against the gross tariff charged by the State Electricity Authority. Excluding mandatory charges distorts comparability and is impermissible.
The court examined whether delay in filing a revised return caused by an audit reporting mistake and COVID-19 disruption should be condoned. It held that the explanation was bona fide and directed authorities to process the revised return afresh.
