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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...
Ahmedabad ITAT deleted Rs. 9.64 lakh addition under Section 69A, holding that only net interest income is taxable after deducting interest expenditure on borrowed funds.
The issue was whether an ex-parte reassessment for unexplained cash deposits could stand despite total non-compliance. The ITAT held that substantive justice required one final opportunity and remanded the case for fresh adjudication.
The reassessment was framed by NFAC before faceless powers under section 151A were notified. The ITAT held the entire reassessment without jurisdiction and quashed both reopening and addition.
ITAT Delhi held that addition towards cash deposit during demonetization period is not sustainable since the same is redeposit of cash which was withdrawn for making salary payment or incurring any expenditure. Accordingly, the addition is deleted.
The reassessments were initiated after four years based on section 68 but concluded under section 115BBC. The ITAT held that absence of valid jurisdiction and mismatch of sections rendered the reassessments void.
The issue was whether a single, consolidated approval under section 153D for multiple assessees is legally valid. The ITAT held that such mechanical approval shows no application of mind and vitiates the entire search assessment.
The issue was whether capital gains could be computed under section 50C without referring valuation to the DVO despite the assessee’s objection. The ITAT held that denial of a DVO reference violates statutory rights and remanded the matter for fresh valuation.
The issue was whether unexplained deposits of ₹94.89 lakh could be sustained when evidence was not produced due to a serious family medical crisis. The ITAT held that genuine hardship warranted a fresh opportunity and remanded the matter for proper verification.
The Revenue sustained addition by assuming 50% of cash withdrawals were used for household expenses. The Tribunal ruled that suspicion-based estimates cannot replace evidence and granted substantial relief.
The issue was whether penalty could survive after the underlying assessment was quashed. The ITAT held that once the 153A assessment was annulled, the penalty under section 270A automatically fell.
