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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 ITAT Chennai held that an Assessing Officer cannot introduce a new addition while giving effect to an appellate order. Since t...
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 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 set aside the Section 148A(3) order for non-resident Ferra Engineering and remanded the case to the AO for fresh consideration on a capital gains transaction.
Tribunal held that an assessee cannot be penalized for delay caused by professional negligence of counsel, following Supreme Court precedent in Rafiq v. Munshilal, and remanded the case for verification of double addition due to audit reporting error.
The ITAT Ahmedabad rules that an assessment framed on a dissolved firm is not automatically void if the Assessing Officer (AO) was not notified of the dissolution. The case, Krishna Enterprise Vs ITO, involved a firm dissolved in 2016, a subsequent ex-parte assessment, and issues of non-compliance and alleged double taxation, leading to the matter being restored for re-adjudication.
The ITAT Mumbai ruled in ACIT Vs Deluxe Recycling India Private Limited that the increase in the safe harbour limit from 5% to 10% for the difference between stamp duty value and actual consideration under Section 56(2)(x) is curative and retrospective. The Tribunal dismissed the Revenue’s appeal, deleting an addition, and restored the issues of depreciation and rent disallowance to the Assessing Officer for de novo verification.
ITAT Kolkata sets aside ₹1.86 Cr tax addition, ruling that CIT(A) must pass a reasoned order on merits and cannot merely uphold the AO’s view or dismiss an appeal for non-compliance.
Summary of the Bombay High Court judgment where a charitable trust’s oversight in e-verifying its Form 10B was considered a human error and the delay was condoned, securing its Section 11 income tax exemption for A.Y. 2017-18.
ITAT Pune deletes ₹14 lakh cash deposit addition during demonetization, ruling that retaining cash from duly accounted sources for a long period is not grounds for suspicion.
The ITAT confirmed that the stamp duty value on the agreement date should be used for tax calculation, not the registration date, when part consideration is paid electronically beforehand.
Mumbai ITAT restored Discover Ekam Foundation’s Section 12AB registration matter to the CIT(E). Rejection, based on overseas fund use, will be re-adjudicated considering the trust’s revised Memorandum of Association.
CBDT directs Assessing Officers to standardize verification of pre-operative and film production expenses, following C&AG audit and PAC report.
