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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 since the foundational notice for reassessment was invalid, the penalty imposed under Section 271AAC could not stand and was quashed.
High Court held that reassessment notices issued without adopting the faceless mechanism prescribed under the statutory scheme were invalid, vitiating all consequential proceedings.
The court held that notices meant to be issued by a Faceless Assessment Officer cannot be validly issued by a Jurisdictional Officer, quashing the notices while keeping Revenue’s rights open.
The court ruled that once purchases are found unproved, restricting additions to a profit percentage is incorrect. Full disallowance is required under Section 69C where genuineness is not established.
The Gujarat High Court upheld a Section 148 notice issued by the JAO during search and seizure under Section 132, ruling that faceless automated allocation is not mandatory in such cases.
High Court condones 1,257-day delay in filing Form 10B for AY 2016-17, recognizing that the petitioner filed returns manually on time and delay was due to bona fide professional oversight.
Bombay High Court condones 2732-day delay in electronic filing of Form 10B, recognizing manual filing within the prescribed period and bona fide professional advice.
The issue was whether an outstanding loan could be taxed as deemed dividend in a year when no loan was received. The Tribunal held that the decisive factor is the year of payment and remanded the matter for fresh examination.
ITAT Jaipur allows full leave encashment of ₹12.13 lakh under Section 10(10AA), citing CBDT Notification No. 31/2023 and judicial precedents.
Tribunal holds that leave encashment is fully exempt as the updated CBDT limit of ₹25 lakh applies. The rectification restricting exemption to ₹3 lakh was set aside.
