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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 confirmed the reopening u/s 147/148 beyond the four-year limit was valid, as information from the wife’s assessment about the joint account constituted a new and tangible reason to believe income escaped. Despite upholding the reopening, the Tribunal granted significant taxpayer relief by accepting documentary evidence for property-related transactions and reducing the addition to a minimal amount.
The Tribunal directed the CIT(E) to grant Section 12A registration, holding that the Commissioner exceeded jurisdiction by focusing on commercial aspects like fee levels and profitability at the registration stage. The ruling confirms that only the genuineness of the objects and activities must be examined when processing a charitable trust’s application.
Citing lack of sufficient cause for condonation, the Tribunal ruled that even charitable entities cannot escape limitation rules, dismissing the appeal filed after over six years.*
The Karnataka High Court set aside a penalty notice and order under Section 271DA for violating Section 269ST, holding the proceedings were time-barred. Following the K. Umesh Shetty precedent, the Court ruled that the delay between the AO’s reference and the penalty notice constituted unreasonable laches, vitiating the entire action.
Upholding the sanctity of concluded proceedings, the Court rejected the Revenue’s challenge, holding that the Checkmate Services judgment on PF/ESI contributions cannot retroactively invalidate a prior ITAT order. The key takeaway is that the ITAT’s power under Section 254(2) is limited, and a later change in law is not a ground to disturb a settled matter.
The Karnataka High Court dismissed the Revenue’s petition, affirming that the ITAT correctly refused to rectify its concluded order using the later Supreme Court ruling in Checkmate Services. The ruling emphasizes that Section 254(2) is only for mistakes apparent from the record, and a subsequent change in law cannot reopen a finalized judicial adjudication.
The Court held that the entire series of reassessment actions, including the final assessment and penalty notices, were bad in law because the initiating notices were issued by the wrong authority, violating Section 151A. This quashing emphasizes the mandatory nature of the faceless assessment protocol, unless the Supreme Court later validates the department’s action.
The Pune ITAT quashed a Section 263 revision, holding that interest earned by a credit society from deposits in co-operative banks qualifies for the Section 80P deduction as part of business income. The ruling affirms that the AO’s acceptance of the claim, being a plausible view based on precedents, cannot be set aside merely because the PCIT holds a different opinion.
The ITAT Mumbai restored a long-term capital gains case to the AO to freshly verify additional documents, including BMC certificates, submitted to substantiate a Rs.1.41 crore claim for cost of improvement on a property sale. The Tribunal acknowledged that BMC and architect records can decisively corroborate construction claims on old properties, overriding the prior technical rejection.
The ITAT Pune ruled that a reassessment initiated under sec.147/148, even for non-filers who later filed a return, is void ab initio if the mandatory 143(2) notice is not issued. The Tribunal set aside the cash deposit addition and remanded the matter for fresh adjudication, reinforcing that 143(2) notice is a jurisdictional requirement.
