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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...
Delhi HC held that issuing multiple reassessment notices under Section 148 based on same ‘reasons to believe’ is valid. Petition challenging notices for A.Y. 2021-22 was dismissed.
The ITAT Jaipur held that joint ownership of a new property does not bar full exemption under Section 54F if the assessee funds the purchase and retains control over the asset.
The High Court quashed a Section 148 notice issued by the Jurisdictional Assessing Officer, confirming that such notices must follow the faceless assessment procedure.
The High Court dismissed the revenue’s appeal as the tax effect was below ₹2 crore, applying the CBDT monetary limit circular and leaving the Tribunal’s deletion of the Section 68 addition undisturbed.
The Tribunal ruled that partial disallowance of section 54F deduction, without concealment or inaccurate particulars, does not warrant penalty under section 271(1)(c).
The High Court set aside reassessment proceedings after holding that notices issued by a Jurisdictional Assessing Officer violate the faceless assessment mandate under Section 151A.
The Tribunal remanded the case after finding that reassessment and appellate orders were passed ex parte without examining key issues on transfer, valuation, and cost, directing a fresh assessment with opportunity of hearing.
The High Court held that once the Revenue accepted partial relief on bogus purchases, further reduction by the ITAT involved only estimation and raised no substantial question of law.
The tribunal ruled that ignoring a valid adjournment request vitiates ex-parte assessment and appellate orders. The is that fair opportunity is mandatory before deciding tax disputes.
ITAT Raipur remands bogus purchase disallowance for a rice miller, awaiting the High Court’s ruling. The case will be reconsidered de novo following legal principles once HC decides.
