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Income Tax : The article explains how taxpayers often wrongly assume that housing loan loss benefits remain available under the new tax regime....
Income Tax : The article explains how seemingly simple questions in ITR-1 can create major confusion for taxpayers. It highlights practical iss...
Income Tax : The ITAT Mumbai held that alleged accommodation entry operators cannot be taxed on the entire turnover amount. The Tribunal ruled ...
Income Tax : AI-driven scrutiny and AIS integration are increasing Income Tax notices where property transactions occur below stamp duty value....
Income Tax : This case highlights that cash paid to builders as “on-money” will not automatically be treated as tax evasion if it originate...
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 updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
Income Tax : The data shows a steady increase in net direct tax collections driven by higher corporate and non-corporate tax revenues. It highl...
Income Tax : The issue highlights delays caused by non-binding timelines in appellate proceedings. It proposes mandatory limits to ensure faste...
Income Tax : The Hyderabad ITAT ruled that the CIT(A) could not delete unexplained cash deposit additions merely on the basis of submissions an...
Income Tax : The ITAT Ahmedabad held that co-operative banks qualify as co-operative societies for purposes of Section 80P(2)(d). The Tribunal ...
Income Tax : The Delhi High Court set aside an assessment order after finding that the Assessing Officer failed to consider the assessee’s re...
Income Tax : The ITAT held that credits received in the assessee’s bank account were repayments of earlier advances and not unexplained cash ...
Income Tax : Tribunal ruled that income tax demands not included in the approved resolution plan were irrevocably extinguished. The decision fo...
Income Tax : The Income Tax Department increased monetary thresholds for assigning cases between ITOs and D/ACITs in Delhi Region. The revised ...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
Income Tax : The consolidation into Form 121 introduces stricter documentation and reporting obligations. The decision emphasizes accountabilit...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
The Tribunal held that unsigned sanction for reopening invalidates the entire reassessment. It ruled that absence of signature violates mandatory legal requirements under tax law.
The updated law clarifies how stay duration and income thresholds determine tax residency status. It holds that only crossing the 182-day limit leads to global taxation, while RNOR status protects foreign income.
The new law reorganizes provisions and reduces complexity without changing tax policies, ensuring easier compliance and continuity for taxpayers.
The removal of the provision means companies and investors are no longer taxed on share premiums exceeding fair market value, creating a major policy shift.
The new tax law confirms that all pending appeals and proceedings will continue under the old Act, ensuring taxpayers do not restart litigation after 1 April 2026.
Explains the requirement for daily backups of electronic accounting records on India-based servers from 2026. Highlights compliance duties for businesses using cloud accounting systems and penalties for violations.
The relocation did not lead to structural enhancement of business assets. The Tribunal ruled that such expenses remain in the revenue field. The decision distinguishes between operational and capital expenditure.
The Tribunal accepted the delay caused by representative’s illness as sufficient reason and admitted the appeal. It found that the authority failed to properly assess genuineness of activities. The matter was restored for fresh adjudication.
The case addresses the continued failure to release ITR utilities on time despite earlier court directions. The Court adjourned the matter after CBDT failed to file a required affidavit, highlighting ongoing compliance gaps.
The Tribunal relied on Supreme Court precedent to hold that interest on tax arrears is compensatory, not penal. It ruled that such interest qualifies as a deductible business expense.
