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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 ITAT Chennai held that an Assessing Officer cannot introduce a new addition while giving effect to an appellate order. Since t...
Income Tax : The Tribunal held that actual rent received under genuine, registered agreements cannot be replaced with hypothetical market rent ...
Income Tax : ITAT found that the assessee had sufficient cash resources to meet the impugned credit card payments. Since the authorities did no...
Income Tax : The Calcutta High Court held that refund adjustment against a disputed tax demand was unsustainable when both a stay application a...
Income Tax : The High Court questioned the Revenue's refusal to grant credit for advance tax and TDS despite substantial amounts already lying ...
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 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.
ITAT condoned a significant seven-year delay in filing an appeal, recognizing assessee’s status as an NRI and his lack of awareness of assessment order as a bona fide cause. This ruling affirms the liberal, justice-oriented approach to condonation of delay under Section 249(3).
ITAT Ahmedabad upheld annulment of a ₹1.73 crore assessment, ruling that Section 148 notice was issued in name of a person who had died four years earlier. Tribunal affirmed that proceedings against a deceased person are a fatal jurisdictional defect and void ab initio.
Tribunal condoned a 545-day delay caused by consultant negligence and remanded case to CIT(A) for de novo adjudication, holding that assessee deserved a fair hearing on disallowance of deduction under Section 35(1)(ii).
The ITAT Ahmedabad reversed the CIT(A)’s deletion, upholding the addition of ₹6.73 lakh under Section 69A for bogus Long-Term Capital Gain from Safal Herbs Ltd. shares. The Tribunal ruled that the sudden investment in the obscure scrip, coupled with an unreasonable price rise, defied commercial logic and was an accommodation entry.
ITAT Ahmedabad deleted an addition made due to a minor difference between a firm’s VAT returns and its books of account. Tribunal ruled that variation was a legitimate bookkeeping consequence of statutory ITC reversal under Gujarat VAT Rules and not evidence of inflated purchases.
The ITAT Rajkot set aside reassessment proceedings initiated under Section 148 against a firm that had previously converted into a private limited company. The Tribunal held that a notice issued in the name of a non-existent entity strikes at the root of jurisdiction and renders the entire assessment void ab initio.
