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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...
ITAT Mumbai held that transfer pricing adjustment in relation to international transaction of payment of bareboat charter hire fees is directed to be deleted since benchmarking approach of assessee is already accepted by DRP in earlier years.
Delhi High Court held that order is liable to be set aside and matter remanded to ITAT since ITAT failed to provide appropriate reasoning with regard to functionality of comparable while undertaking transfer pricing adjustment.
ITAT Ahmedabad held that addition on account of section 14A of the Income Tax Act while computing books profit under section 115JB of the Income Tax Act is not justifiable. Accordingly, addition u/s. 14A deleted and appeal of assessee allowed.
Delhi High Court held that addition of unsecured loans under section 68 of the Income Tax Act rightly deleted since the said amount is already disclosed before Income Tax Settlement Commission. Accordingly, appeal of revenue dismissed.
ITAT Jaipur held that denial to allow the business loss stating the requirement of books of accounts to be audited is not justifiable since turnover during relevant period didn’t exceed the prescribed limit for getting books of accounts audited.
ITAT Hyderabad condoned a 290-day delay in filing an appeal, accepting that the order was sent to an old email address and the officer’s illness caused genuine hardship.
The Tribunal reduced unexplained cash deposit addition from Rs.11.59 lakh to Rs.2.59 lakh, noting both the taxpayer and the department failed to fully substantiate their claims during the demonetization scrutiny.
ITAT Ahmedabad held settlement payments in foreign civil cases are deductible under Section 37(1) as compensatory, not penal, and Explanation 3 is not retrospective.
Once the order of ITAT had attained finality on factual aspects and assessee had discharged the entire liability, the Tax Recovery Officer was bound, under Section 225(2) to lift the attachment on property.
Once an appellate authority like the Commissioner (Appeals) or the ITAT deleted a tax addition and assessee’s liability stood discharged, the Tax Recovery Officer was bound to give effect to such order and lift the attachment.
