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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 held that incomplete villas incapable of occupation and held as business assets do not amount to residential houses. Deduction under section 54F cannot be denied merely due to their existence.
The law now mandates a single exemption pathway for charitable institutions, ending the flexibility of parallel regimes. The key takeaway is that once a regime is chosen, procedural compliance becomes binding and decisive.
The law allows a last chance to correct six years of TDS/TCS mistakes before the window shuts permanently. The key takeaway is that uncorrected demands after this date become irreversible liabilities.
A 284-day delay in filing appeals was condoned after accepting explanations including medical issues and disruptions. The key takeaway is that relief was granted but balanced by imposing costs to deter repeated non-compliance.
ITAT Chennai remanded a case involving Rs. 11.26 lakh cash gifts back to the CIT(A), allowing the NRI assessee another opportunity to substantiate the claim with supporting documents.
The ITAT held that where investments are fully backed by substantial own funds and a rational suo-motu disallowance is made, Rule 8D cannot be mechanically invoked. The Revenue’s attempt to make an additional disallowance was rejected.
The Tribunal held that limitation under Section 153 overrides the DRP timeline under Section 144C. As the assessment was completed beyond the statutory outer limit, it was quashed as invalid.
While restoring the appeals, the ITAT directed expeditious disposal and warned against avoidable adjournments. The key takeaway is that condonation is granted to enable justice, not to prolong litigation.
The Tribunal held that an ex-parte capital gains addition could not be sustained where the assessee was denied a meaningful opportunity. Considering comparable treatment in a related case, the matter was remanded for fresh adjudication on merits.
The Tribunal held that a surrender during survey cannot justify additions without supporting material. Statements under Section 133A lack evidentiary value unless backed by records. Additions based solely on surrender were deleted.
