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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 Tribunal held that substantial bank deposits without filing a return provided adequate basis to reopen under section 147. Notice-service objections failed due to section 292BB, and the quantum issue was remanded for verification. The ruling confirms that prima facie material is sufficient for reassessment.
ITAT allowed assessee’s appeal against Section 68 addition, stressing that AO must evaluate annual business activity, stock, and legitimate cash sales. This decision safeguards traders during exceptional periods like demonetization.
India’s upcoming tax law changes could redefine resident status for high-income diaspora. Learn how this reform increases global income tax risks and affects treaty benefits for overseas investors.
The Tribunal held that the CIT(A) erred in dismissing the appeal solely for non-payment of advance tax without first seeking clarification from the assessee. Since the assessee acted under a bona fide belief that no advance tax was due, the ITAT restored the matter for fresh consideration. Key takeaway: procedural conditions under Section 249(4)(b) must be applied with fairness and opportunity of hearing.
ITAT Raipur set aside an ex-parte appellate order where the CIT(A) dismissed the appeal solely for non-prosecution. The matter was restored for fresh adjudication to ensure principles of natural justice are followed.
The Tribunal dismissed the rectification plea after holding that no mistake apparent on record was shown. It ruled that the assessee’s request amounted to seeking a review, which Section 254(2) does not permit.
ITAT Chandigarh allowed a delayed appeal of 457 days, holding that the assessee had reasonable cause for delay and the Limitation Act provisions applied. Appeal admitted for adjudication on merits.
The Court held that no disallowance under Section 14A can be made when exempt income is not earned in the relevant year. It upheld the Tribunal’s decision and dismissed the revenue’s appeal.
Explains that HRA exemption is not permitted under the new tax regime and is fully taxable. Key takeaway: employees must compare regimes to avoid higher tax outflow.
ITAT held that criminal and departmental actions against former office bearers justified the 204-day delay. Assessment was remanded because additions were made without examining evidence.
