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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...
Covers the Tribunal’s ruling upholding most TPO-selected comparables while excluding product-owning entities, clarifying how functional similarity drives benchmarking in software distribution.
The Tribunal found no evidence of concealment since the assessee had transparently disclosed impairment, CENVAT credit treatment, and revenue recognition. It ruled that Section 271(1)(c) cannot be invoked merely because the AO made additions.
ITAT ruled that the CIT(A) wrongly treated the DVO’s report as binding and failed to independently scrutinize comparables, methodology, and objections. Key takeaway: the first appellate authority must evaluate the DVO’s report on merits and issue a speaking order.
The tribunal held that the State Electricity Board consumer tariff of ₹6.62/unit was the valid internal CUP for captive power transfer. Rejecting comparisons with generating companies, it ruled that no downward adjustment was required. The key takeaway is that actual SEB purchase rates can reliably determine market value for 80IA claims.
Tribunal upheld capital gains exemptions after finding that assessee had furnished proof of investments under sections 54F and 54EC. The ruling confirms that omission to consider evidence cannot justify denial of statutory relief.
The Tribunal held that granting only one day to reply to a show-cause notice violated principles of natural justice. The assessment order was set aside and the matter remanded for fresh examination.
Tribunal held that AO erred by rejecting agricultural income based on estimated rates and online data while ignoring affidavits from buyers. It ruled that uncontroverted evidence cannot be replaced by assumptions, leading to deletion of ₹1.20 crore addition.
The ruling found no liability to deduct TDS because individual payments to transferors were below the statutory threshold. Consequently, the fee and interest imposed under Section 234E were set aside.
The High Court set aside reassessment notices for not following mandatory faceless procedures introduced by recent Finance Act amendments. The ruling underscores that non-faceless issuance violates statutory requirements.
The Tribunal held that additions made by treating real estate receipts as capital gains required fresh verification. The case was remanded as the earlier order failed to examine the assessee’s claim of business income under section 44AD.
