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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...
ITAT Chennai confirmed that section 234A interest is only compensatory and cannot be charged for periods when no tax remains outstanding. Full payment of self-assessment tax prior to the start of March 2022 negated any basis for levy.
ITAT held that reassessment notices issued after the surviving period, as clarified by Rajeev Bansal, are time-barred for AY 2015-16. The ruling emphasizes that procedural compliance with limitation periods is mandatory, even if notices are issued under unamended law.
ITAT Delhi held that a single Section 153D approval for multiple assessees and years is impermissible, rendering all 153A and 153C assessments void ab initio.
ITAT Delhi allowed travelling and visa expenses paid by assessee’s sons as wholly & exclusively for business purposes in overseas education consultancy. The Tribunal emphasized that procedural delay of 5 days should not defeat substantive justice, partly allowing the appeal.
ITAT Kolkata condoned an extraordinary delay in filing appeals, emphasizing that genuine and unavoidable reasons justify late filing, allowing the appeals to proceed for adjudication.
ITAT ruled that a Section 50C addition cannot stand without a DVO reference where market value is disputed. Matter remanded for fresh valuation and reconsideration.
The Court upheld the deletion of penalty under the Black Money Act after finding the wife was only a joint holder and the husband had fully disclosed the foreign asset. The ruling notes no substantial question of law arose.
Registration under section 80G was rejected due to a clause suggesting financial assistance abroad. Ruling: ITAT held application of income occurs in India. Key takeaway: Mere mention of foreign studies cannot block 80G registration.
The Tribunal held that Section 44AD could not be applied to a goods carriage business excluded under Section 44AE and restored the matter for fresh examination. The AO must verify conditions under Section 44AE and recompute income accordingly.
ITAT Bangalore allowed deduction of ₹55.4 crore ESOP expenses under section 37, holding it as employee compensation cost. ESOP costs may be deductible even if cross-charged from parent company.
