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Income Tax : The Income Tax Act 2025 introduces mandatory reporting of high-value gifted immovable properties exceeding ₹45 lakh. The amendme...
Income Tax : The ITAT Surat held that agricultural land qualifies as “immovable property” under Section 56(2)(x) since the provision covers...
Income Tax : Businesses now face stricter seller-wise tracking, PAN verification, and reconciliation obligations under TDS on purchase provisio...
Income Tax : The judgment rejected the practice of assigning a nil arms length price merely because a taxpayer reported financial losses. The c...
Income Tax : The article explains how taxpayers often wrongly assume that housing loan loss benefits remain available under the new tax regime....
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 updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
Income Tax : The data shows a steady increase in net direct tax collections driven by higher corporate and non-corporate tax revenues. It highl...
Income Tax : The issue highlights delays caused by non-binding timelines in appellate proceedings. It proposes mandatory limits to ensure faste...
Income Tax : Mumbai ITAT held that Section 69A cannot be invoked where loan transactions are fully routed through banking channels and recorded...
Income Tax : Bangalore ITAT held that applications for registration under Section 12AB and approval under Section 80G cannot be rejected on gro...
Income Tax : The Bangalore ITAT accepted the assessee’s explanation that medical issues and expiry of the digital signature certificate cause...
Income Tax : The Bangalore ITAT ruled that once substantive addition under Section 2(22)(e) is sustained in the managing partners case, the cor...
Income Tax : The Hyderabad ITAT ruled that the CIT(A) could not delete unexplained cash deposit additions merely on the basis of submissions an...
Income Tax : The Income Tax Department increased monetary thresholds for assigning cases between ITOs and D/ACITs in Delhi Region. The revised ...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
Income Tax : The consolidation into Form 121 introduces stricter documentation and reporting obligations. The decision emphasizes accountabilit...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
The issue concerns fragmented litigation under the earlier tax regime. The new law integrates multiple proceedings into a unified process, reducing duplication. The key takeaway is that litigation is streamlined rather than eliminated.
The issue highlights delays caused by non-binding timelines in appellate proceedings. It proposes mandatory limits to ensure faster and fair disposal of tax appeals.
The issue involved dismissal of appeal due to delay and non-appearance. The tribunal condoned the delay citing medical reasons and remanded the matter for fresh assessment, imposing cost for non-compliance.
The issue was addition of deemed dividend under search assessment. The tribunal held that without incriminating material, additions in completed assessments are unsustainable.
The issue was whether reassessment could be initiated after four years without fresh evidence. The court held such reopening invalid when based on existing records and no failure of disclosure.
The issue was whether a long delay in filing appeals could be condoned. The tribunal held that absence of credible explanation bars condonation, leading to dismissal of appeals.
The issue was denial of capital gains exemption due to claim under wrong section. The tribunal held that a genuine claim cannot be rejected merely for citing an incorrect provision and remanded the case.
The issue was whether penalty for misreporting can be imposed without specifying the applicable clause. The tribunal held such penalty invalid and ordered its deletion.
The Court noted that the taxpayer could not upload large volumes of documents due to technical limits. It held that authorities should adopt a practical and humane approach, including on-site verification. Failure to do so vitiates proceedings.
The reform consolidates TDS provisions into a structured system and introduces digital compliance mechanisms. It enhances clarity, reduces errors, and improves reporting efficiency.
