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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...
Explains how ITAT Pune held that unsecured loans prior to 01.04.2023 do not require proving the lender’s source of funds, leading to deletion of a ₹1.62 crore addition.
Tribunal directs AO to apply the 30% tax rate on unexplained cash deposits during Nov–Dec 2016, citing Madras High Court ruling, partially allowing assessee’s appeal.
The Court held that interest paid for delayed Agricultural Income Tax cannot be deducted under Section 37. Since AIT itself is not deductible, the related interest also fails eligibility. The ruling confirms that such payments do not qualify as business expenditure.
The High Court sustained the exemption under Section 11 for a charitable trust, holding that doctors’ fees excluded from gross billing do not affect the 2% Indigent Patient Fund contribution. Revenue’s appeal was dismissed.
The Court held that prolonged suspension of trustees, sealed records, and administrator control constituted genuine cause for delayed filings. The delay for six assessment years was condoned and the returns ordered to be processed as filed on time.
Highlights how the Court ruled that consistent operational control and strategic oversight in India can establish a Fixed Place PE under the DTAA, even without exclusive offices. Key takeaway: substance and economic activity override formal ownership.
Tribunal quashed penalty where AO’s addition for alleged bogus purchases was purely estimated, emphasizing that penalties require concrete evidence of income concealment.
ITAT Delhi held that a reassessment notice issued three years after the relevant AY is invalid if the alleged escaped income is below ₹50 lakh, reinforcing the statutory threshold protection.
ITAT condoned delay as assessee learned of assessment only after bank account attachment, emphasizing the violation of natural justice. Key takeaway: Ex-parte orders require proper notice before dismissal.
The appeal was allowed as the notice under section 148 was sanctioned by an authority not competent under law. All proceedings following the invalid notice were held void-ab-initio. The ruling highlights the necessity of proper sanction for reopening assessments beyond three years.
