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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 Tribunal upheld revision after finding that the Assessing Officer accepted explanations without proper verification. The ruling stresses that insufficient enquiry can justify action under Section 263.
The ITAT held that denying registration without adequate opportunity is invalid. Authorities must fairly examine replies and documents before rejection.
The dispute concerned computation of capital gains on sale of shares affected by corporate actions. The Tribunal affirmed that detailed tranche-wise analysis and statutory indexation justified allowance of long-term capital loss.
The Tribunal held that a transfer pricing order passed beyond statutory limitation is non est in law. As a result, the assessee ceased to be an eligible assessee under section 144C, making the final assessment beyond limitation and void.
The Tribunal deleted a penalty imposed for alleged non-maintenance of accounts. It held that audited books, even if defective, do not attract penalty under Section 271A.
The issue was whether a penalty could survive when the notice failed to specify the exact limb of section 271(1)(c). The ITAT held such ambiguity fatal, quashing the entire penalty as void.
The issue was whether the final order was passed within the statutory timeline after DRP directions. The Tribunal held that delay beyond one month under section 144C(13) renders the order void.
The dispute involved taxing deposits despite a declared loss. The Tribunal held that when accounts show a loss, blanket addition of deposits is unsustainable.
The High Court held that denying continuation of registration by relying on an undisclosed investigation report violates natural justice. Since the trust was not given access to the material used against it, the order was set aside and remanded.
The Tribunal held that reassessment issued beyond three years requires approval from the PCCIT and not the PCIT. Since sanction was obtained from an incompetent authority, the entire reassessment was held void ab initio.
