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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 ITAT ruled that section 69A cannot be invoked unless ownership of cash is established. Mere third-party seized ledgers without recovery of money are insufficient to sustain an addition.
The Tribunal ruled that unexplained money provisions cannot be applied on conjectures when the source of cash is reasonably explained. With no dispute on withdrawals and savings, the demonetisation-period addition failed on merits.
The ITAT emphasised that dismissal of appeals without dealing with substantive grounds is legally untenable. NFAC was directed to rehear the reassessment appeals after granting reasonable opportunity.
The Tribunal ruled that CIT(A) must pass a speaking order addressing all grounds raised. Failure to do so vitiates the appellate order, regardless of assessee’s non-compliance.
The Tribunal held that once the Assessing Officer has examined and accepted the source of property investment, the Commissioner of Income Tax (Exemption) cannot reopen the issue under section 263. The ruling emphasizes finality of AO’s findings.
The appeal was filed late due to ongoing police proceedings against the assessee. The Tribunal held this to be sufficient cause and restored the appeal for fresh consideration.
The Tribunal held that a bad debt claim involving factual and legal analysis cannot be disallowed during section 143(1) processing. Such issues must be examined through regular assessment proceedings, not summary adjustments.
The appeals were dismissed solely due to delay without examining merits. The Tribunal held that substantive justice requires condonation, though costs may be imposed for repeated defaults.
The issue was whether entire cash deposits could be added as unexplained despite income being declared under section 44AD. The Tribunal held that presumptive taxation shields routine business deposits, though a reasonable lump-sum addition was justified where receipts were partly unsubstantiated.
The case revolved around treating bank deposits as unexplained income without following the statutory mandate of rejecting books of account. The Tribunal reaffirmed that compliance with section 145(3) is mandatory before estimation, and granted full relief to the assessee.
