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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 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 ITAT Jodhpur deleted the disallowance relating to delayed PF and ESI deposits, holding that the impact of the COVID-19 pandemi...
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 Hyderabad held that once a moratorium is imposed under IBC, Income Tax Department cannot recover dues from corporate debtor. However, proceedings to determine tax liability may continue under IBC and Income Tax Act.
ITAT Delhi ruled that the Assessing Officer cannot alter the share valuation method chosen by the assessee under Rule 56(2)(viib) of the Income Tax Rules. Consequently, the revenue’s appeal was dismissed.
ITAT Mumbai held that reopening of assessment under Section 147 of the Income Tax Act is invalid if based on no new tangible material. The order clarified that such reopening is legally unsustainable and liable to be quashed.
ITAT Jabalpur held that additions for unexplained investment in agricultural land cannot be made without proper inquiry into the co-owner’s source of funds. The case has been restored for de novo consideration.
ITAT Mumbai ruled that the PCIT rightly invoked revisional powers under Section 263 as the assessment order showed lack of proper inquiry, upholding the revision.
Gujarat High Court ruled that reassessment under Section 148 issued after the permissible time period is invalid, quashing the notice and allowing the writ petition.
ITAT Agra held that amount deposited during demonetization period cannot be treated as unexplained income since the amount is deposited out of genuine cash sales. Accordingly, appeal of revenue dismissed.
Conflicting interpretations on Section 87A emerged as CIT(A) allowed rebate on short-term capital gains, while CBDT Circular 13/2025 restricted it to slab-rate income, leaving taxpayers uncertain.
once the income forming the basis of AO’s reason to believe is explained, AO cannot tax other income independently
ITAT Ahmedabad held that unexplained credit additions cannot be sustained where HUF’s bank transactions are fully documented, and reassessment beyond four years without failure to disclose material facts is invalid.
