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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...
Assessments on foreign-sourced income were deleted after the ITAT confirmed the assessee’s Non-Resident status under Explanation 1(a) of Section 6(1).
The Gujarat High Court held that the assessee disclosed all material facts and the reopening notice under section 148/147 was a change of opinion, lacking jurisdiction.
Explains how Section 87A rebate applies only below fixed income limits, while the standard deduction continues to reduce taxable salary irrespective of income level.
Tribunal held that denying opportunity to submit evidence amounts to potential miscarriage of justice. CIT(A) directed to reconsider income addition after evaluating all documents.
ITAT held that appeals filed with incorrect jurisdiction cannot be heard. All four appeals dismissed, but assessee allowed to refile before correct bench.
ITAT ruled that Section 201 proceedings initiated beyond four years are legally untenable. Since the 201(1) order for AY 2016-17 was issued after the limitation period, the entire TDS demand was deleted. Tribunal held that date of knowledge is irrelevant for limitation.
The Tribunal held that ad agencies operate on low margins, and without comparables, an 8% estimate was excessive. Past history was accepted as the best guide, reducing profit estimation to 5% and deleting cash-deposit addition as double counting.
Tribunal held that a notice issued by JAO under Section 148 is invalid, emphasizing that only FAO-issued notices comply with faceless reassessment rules. Revenue may seek revival if Supreme Court changes legal position.
Tribunal ruled Section 54F exemption is not available when the assessee owns multiple independent residential units, each with a separate kitchen. Deduction on the JDA property was disallowed.
ITAT Kolkata ruled that WhatsApp chats without corroboration cannot be treated as unexplained income under Section 69A. All additions based solely on chats were deleted, emphasizing the need for tangible evidence.
