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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 ITAT Kolkata upheld the deletion of a ₹2.5 crore addition under Section 68, ruling that the assessee provided full documentary proof of the loan’s identity, creditworthiness, and genuineness. The Tribunal emphasized that once the primary onus is discharged, the AO must conduct an independent inquiry rather than relying on an unverified Investigation Wing report.
ITAT Ahmedabad held that an addition under Section 69 based only on an untested third-party statement, without cross-examination, violates natural justice. The ₹60 lakh on-money allegation was deleted.
The Assessee contested a cryptic CIT(A) order that failed to discuss documentation provided for Long Term Capital Gains and property investment sources. The Tribunal allowed the appeal for statistical purposes, setting aside the non-speaking order for de novo adjudication. This ruling reinforces the principle that every quasi-judicial order must be supported by reasons to ensure fairness and proper justice.
The issue was the summary confirmation of an 8% estimated income addition on a hotel business by the NFAC without conducting independent inquiry or giving reasons. The ITAT set aside the non-speaking order, emphasizing that the CIT(A)’s powers are co-terminous with the AO’s, requiring proper investigation and a reasoned decision. The key takeaway is the mandate for appellate authorities to make an independent inquiry and not just rubber-stamp the AO’s order.
Rajkot ITAT deleted an addition of ₹94.81 lakh, holding that interest received under Section 28 of Land Acquisition Act is accretion to compensation, not interest taxable under Section 56(2)(viii). Since acquired land was rural agricultural land (not a capital asset), compensation, including Section 28 interest, is wholly exempt from tax.
ITAT Mumbai held that when sales and stock figures are accepted, entire purchases cannot be treated as bogus. Only the profit element at 3% is taxable, following consistent judicial precedent.
The tax addition on ₹17.63 lakh demonetization cash deposits was challenged as being sourced from earlier withdrawals and savings. The ITAT deleted the addition, emphasizing that prior, undisputed withdrawals cannot be taxed as unexplained money unless the tax authority proves alternate use. The key takeaway upholds the principle that redeposit of existing capital is not income under Section 69A.
The Tribunal held that ₹1.75 crore in cash deposits were explained as redeposits from earlier withdrawals, deleting additions made under Section 69A since no evidence showed alternate use of the cash.
Mohit Vijaykumar Gupta Vs DCIT (ITAT Ahmedabad) ITAT Ahmedabad Deletes Deemed Rent on 5 Flats – Accepts Genuine Vacancy Claim but Upholds Addition on Office Property Assessee, an individual, filed a return declaring income of ₹10.60 crore. The case was selected for scrutiny due to large capital gain deductions claimed u/s 54, 54B, 54EC, 54EE, […]
ITAT Delhi ruled that a reassessment notice served under Section 148 on a foreign FPI (Singapore company) after its formal dissolution is void ab initio. This decision confirms that proceedings against a non-existent entity, even if served shortly after winding up, are invalid and cannot be cured by Section 292B.
