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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...
ITAT quashed a reassessment, ruling that S 148 notice was invalid because it was issued before AO formally received mandatory sanction from PCIT under S 151. Relying on Supreme Court, Tribunal held that internal approval is insufficient; communication of sanction to AO is a jurisdictional prerequisite.
Tribunal observed that AO accepted returned income without any independent examination or inquiry. As major issues like estimation of profit in liquor trade and tax audit requirements were ignored, assessment was held erroneous. Pr. CIT’s revision under Section 263 was sustained.
ITAT set aside ex-parte additions for unsecured loans and partner’s capital, ruling that taxpayer had reasonable cause for late submission of evidence due to departure of their accountant and Authorized Representative (AR). Tribunal directed CIT(A) to admit evidence under Rule 46A and decide case on its merits.
The Andhra Pradesh High Court definitively ruled that Jurisdictional Assessing Officers (JAOs) lack the authority to issue reassessment notices (u/s 148A/148) after the Faceless Assessment Scheme (Section 151A) was notified in 2022. The court quashed the notices and orders, establishing that the faceless mechanism is the exclusive forum for initiating reassessment proceedings.
Tribunal reversed disallowance of Section 80P deduction, affirming that interest income earned by a co-operative society from deposits with a co-operative bank is eligible for tax benefit.
ITAT ruled that a resident individual, opting for new tax regime with income below ₹7 lakhs, is eligible for full S 87A rebate, even if their income includes STCG under S 111A3 Court held that no statutory bar existed for Assessment Year 2024-25, invalidating system-driven denial by CPC.
Tribunal ruled that high-rate tax under Section 115BBE cannot be applied to assessment year 2017-18 cash deposit, as section applies only to transactions on or after April 1, 2017. Decision directs AO to compute consequential tax liability under normal provisions.
ITAT Delhi deleted a ₹31.35 lakh addition for alleged inflated purchases, ruling that an assessment cannot rest solely on third-party search data. The Tribunal emphasized that the Revenue failed to conduct any independent enquiry or provide corroborating evidence linking the assessee to the alleged cash transactions.
ITAT Delhi remanded the addition of 12.5% profit on alleged bogus sales because the CIT(A) sustained the amount (₹20.16 lakh) without providing adequate reasoning or opportunity to the assessee. The Tribunal directed the CIT(A) to pass a fresh, speaking order after considering all submissions.
ITAT Delhi condoned a significant delay in filing appeals, ruling the cause was bona fide as the accountant’s linked email ID led to the non-receipt of assessment and penalty notices. The Tribunal set aside the ex-parte assessment and penalty, remanding the case for a fresh hearing on merits.
