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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 Delhi High Court held that ₹25 lakh paid under a prior agreement to sell was deductible under Section 48(i) as it was incurr...
Income Tax : The Chennai ITAT held that payments received by a UAE resident could not be taxed as Fees for Technical Services in India because ...
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 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 Tribunal noted conflicting positions regarding the evidence submitted by the assessee in support of agricultural income. Since the assessment appeared incomplete and lacked thorough verification, the case was returned to the AO. The ruling directs a fair reassessment and deletion of the addition if documentary proof is found satisfactory.
The Tribunal applied long-standing rulings invalidating the intensity and BLT approaches for AMP benchmarking, deleting both substantive and protective adjustments. The decision underscores that such methods lack statutory support.
The ITAT Chandigarh ruled that a co-purchaser of property is not liable to deduct TDS under Section 194-IA if their individual share is below ₹50 lakh, even if total consideration exceeds the limit. The Tribunal quashed both AO and CIT(A) orders.
The Tribunal held that use of surplus for land purchase in the society’s name reflects genuine educational intent. It rejected the view that recurring surplus amounts to profit motive and found the earlier inquiry incomplete. The application under Section 10(23C)(vi) was remanded for proper evaluation.
ITAT Chandigarh ruled that CAD software with a short lifecycle and frequent upgrades qualifies as revenue expenditure, enabling full Section 80IC deduction. AO and CIT(A) orders were set aside.
The Tribunal held that the DRP erred in refusing to consider the USAID–AE agreement, which directly established the back-to-back cost-plus-6% model. It ruled that such crucial evidence cannot be dismissed on a procedural technicality and remanded the matter for fresh adjudication.
Explains how timing, family LRS limits, and NRO remittances can legally prevent the 20% TCS on foreign transfers. Highlights compliant methods clarified under the tax rules.
ITAT Chandigarh held that a Section 148 notice issued by the Jurisdictional AO instead of Faceless AO violated statutory provisions, quashing the assessment for AY 2016-17.
Explains when co-operative societies providing credit to members can claim full deductions under section 80P(2)(a)(i) despite having nominal members.
The tribunal ruled that Section 54 benefits apply to property purchased abroad before AY 2015-16, reversing the prior disallowance. Cash deposits in bank accounts without business entries cannot be treated as unexplained credit.
