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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 Chennai allowed the appeal of MLS Enterprises for statistical purposes, subject to a ₹10,000 cost, restoring the matter to the CIT(A). The central issue is the prospective nature of the Section 234E penalty levied under Section 200A.
The ITAT sent a tax assessment case back to the CIT(A) for reconsideration, citing the assessee’s claim of DIN absence in the assessment order. The appellate authority must now adjudicate on both the merits and the CBDT Circular No. 19/2019 compliance.
The ITAT Dehradun set aside a penalty under Section 270A, holding that the Assessing Officer failed to specify the exact clause of misreporting invoked. The penalty was declared invalid and deleted.
The Jodhpur ITAT set aside a ₹ 8.13 lakh expense disallowance against Sarvodaya Mining Services. The Tribunal ruled additions cannot be made unless the assessee’s books of account are first rejected under Section 145.
Tribunal found that the Assessing Officer made additions without examining whether the trust followed a cash or accrual accounting system. The matter was remanded for de novo verification to ensure fair assessment under Section 10(23C)(iiiad).
ITAT Deletes ₹19.04 Lakh Addition: Agent’s Cash Deposits Were Company Collections The ITAT ruled that cash deposits of ₹19.04 lakh made by commission agent Shyam Singh Hetta were reconciled collections for his principal, DTM Pvt. Ltd., and deleted the unexplained money addition under Section 69A.
ITAT Ranchi directed the AO to readjudicate the tax liability for a ₹23.5 lakh cash deposit after the assessee claimed the bank wrongly attached his PAN to a company’s account. The AO must verify if the company disclosed the account and had adequate cash for the deposit.
Pune ITAT dismissed a firm’s appeal, confirming the PCIT’s order to tax Rs 19.44 lakh in unexplained cash and stock found in a survey under the stringent Section 115BBE.
Learn about key income tax benefits, exemptions, and filing relaxations available to senior and very senior citizens under the Income Tax Law for FY 2025-26.
Understand when NRIs must file Indian income tax returns (ITR), key exemptions, and the impact of residential status (ROR, RNOR, NR) on income taxability in India. Learn about TDS rates and the tax status of NRE/NRO account interest.
