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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 issue was whether failure to deposit unutilised capital gains in CGAS before the due date defeats Section 54B relief. The ITAT held that where eligible agricultural land is purchased within time and cheques are issued with sufficient balance, CGAS non-deposit is only procedural. Full exemption was therefore allowed.
The key question was whether STR-based information can trigger harsh taxation under Section 115BBE. The ITAT held that without concrete evidence of non-genuine transactions, such additions cannot stand. Both reopening and tax addition were annulled.
The High Court held that service of income tax notices on an email ID from a previous return was valid, dismissing the writ petition and directing the assessee to pursue statutory appeal remedies.
The Tribunal held that building construction for future educational use qualifies as charitable activity. The rejection of 80G approval solely due to absence of active operations was ruled unjustified.
The Tribunal held that a charitable trust’s 80G application rejected for late filing must be reconsidered after the trust seeks condonation under Section 119(2)(b). Procedural delay should not defeat substantive rights.
The Tribunal held that a Section 148 notice issued after three years was invalid because the escaped income was below ₹50 lakh, making the reopening beyond limitation.
The issue was denial of charitable exemption due to alleged non-filing of Form 10B. The ITAT held that the audit report was filed on time and wrongly ignored by CPC. Substantive exemption under Section 11 was therefore restored.
The ITAT Pune remanded a charitable trust’s 12A and 80G applications for fresh consideration after noting procedural lapses and granting the trust another opportunity to respond to notices.
Though earlier dismissed for non-prosecution, the Tribunal evaluated the substantive grounds relating to bonus disallowance and income inclusion, granting partial relief.
The Tribunal sent the matter back to the Assessing Officer after finding that important objections on land classification and cost of acquisition were not verified. A fresh decision must be made after proper examination.
