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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 ITAT held that issuance of Section 148 notice by a Jurisdictional Assessing Officer instead of a Faceless Assessing Officer violates Section 151A, leading to quashing of the reassessment.
Punjab & Haryana High Court remands petitions for reconsideration, directing authorities to reassess educational institutions’ eligibility for Section 10(23C)(vi) exemption in light of Supreme Court rulings.
The Tribunal dismissed the income tax appeal after the assessee formally requested withdrawal. The ruling confirms that appeals may be closed when the assessee opts not to pursue them.
Government initiatives under PMLA and Black Money Act target undisclosed crypto income, enhancing monitoring, enforcement, and compliance in the unregulated VDA sector.
The ITAT held that a penalty under section 271(1)(c) cannot survive once the underlying quantum addition is deleted by a binding ITAT order. The Revenue’s appeal was dismissed as no stay or direction from the High Court could revive the deleted quantum.
ITAT rules that reliance on remand report from a different year is invalid, restoring matter to Assessing Officer for AY 2012-13.
The Court held that Section 270A cannot be invoked when assessed income matches the returned income, and an excessive FTC claim alone does not constitute under-reporting. Key takeaway: Penalty requires statutory pre-conditions to be satisfied, not mere disagreement on a claim.
ITAT Hyderabad held that notices issued under Sections 148 and 148A by a Jurisdictional Assessing Officer were invalid, stressing only FAOs can issue such notices under the faceless assessment scheme.
A slump sale involves transferring an undertaking for a lump-sum consideration without breaking down individual asset values. It simplifies business restructuring but triggers capital gains tax for the seller.
Detailed seized agreement and subsequent sale deed considered strong corroboration. Addition under Section 69A sustained in search-based reassessment.
