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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 Tribunal ruled that the Assessing Officer cannot tax share premium under Section 68 solely on the basis that the premium lacks...
Income Tax : The ruling emphasized that CAM charges remain separate transactions irrespective of whether payments are made to the same landlord...
Income Tax : The Tribunal held that, apart from the CBDT clarification, the seller had declared the capital gains and discharged taxes. Therefo...
Income Tax : The Tribunal held that interest under Section 244A must be computed up to the actual date of refund issuance. Restricting interest...
Income Tax : The ITAT held that Section 56(2)(viib) cannot apply where equity shares are issued upon conversion of CCDs without receipt of fres...
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...
Delhi High Court held that separate transfer pricing adjustment for AMP was uncalled for given that the distribution business of assessee was already benchmarked separately and the transaction was benchmarked correctly.
CBDT Notification 155/2025 confers concurrent powers on the Commissioner of Income Tax, CPC Bengaluru, to rectify apparent errors in assessment orders and issue demand notices for cases processed through the CPC interface, effective immediately.
The Madras High Court directed the Income Tax Department to dispose of a representation pending since 2014 within six weeks. The Court noted that the Department had already acknowledged the delay and must now act promptly. The ruling reinforces that prolonged inaction on taxpayer representations is unacceptable.
Allahabad High Court held that a Section 148 notice sent via speed post is invalid. Only registered post or proper affixture ensures valid service for reassessment proceedings.
The Court stayed recovery proceedings initiated under Section 226(3) against the assessee’s bank accounts, noting that a stay application was already scheduled for hearing. Since the taxpayer had exercised his appellate and rectification rights, the Court found the Department’s coercive action premature. It ordered maintenance of status quo until the next hearing date. The judgment emphasizes fairness and procedural propriety in tax recovery.
The Court observed that the Income Tax Department acted without due verification in raising a demand on a deactivated PAN. Since the Department had already recognized the active PAN in earlier proceedings, the fresh demand appeared erroneous and procedurally invalid. Justice C. Saravanan granted an interim stay and sought production of the relevant assessment records. The case highlights the need for robust PAN verification before initiating recovery actions.
The Bombay High Court confirmed a 15% addition on alleged bogus purchases, rejecting the Revenue’s plea for full disallowance. The Court held that reliance solely on Sales Tax Department data, without giving the assessee cross-examination rights, violates natural justice. With concurrent factual findings by lower authorities, no substantial question of law was found to arise.
The ITAT Delhi partly allowed an appeal, restricting a Rs. 10 lakh cash deposit addition to 1 lakh after the assessee, a salaried individual, explained the source as family savings from disclosed income. The Tribunal used a reasonable estimate approach, finding neither the assessee’s full explanation nor the Revenue’s complete rejection of evidence to be fully warranted, granting Rs. 9 lakh relief.
ITAT Hyderabad held that exemption under section 10(1) of the Income Tax Act towards income derived from sale of foundation seeds as agricultural income allowed. Accordingly, appeal of revenue dismissed and order of CIT(A) upheld.
ITAT deleted a penalty under Section 271(1)(c), ruling the AO failed to levy the correct charge (concealment vs. inaccurate particulars), making the penalty unsustainable. finding the AO charged the assessee with concealment of income when the facts indicated furnishing inaccurate particulars.
