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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 an inadvertent mistake in Schedule 112A relating to the acquisition period of mutual fund units could be re...
Income Tax : The Court held that reassessment proceedings cannot be sustained merely on the basis of an unsigned and unauthenticated loose pape...
Income Tax : ITAT Delhi set aside the assessment after finding that the assessees additional evidence had not been properly scrutinized by the ...
Income Tax : The Tribunal held that delayed filing of Form 10-IC should not defeat the assessee's substantive right to opt for the concessional...
Income Tax : The Tribunal held that deduction of tax under Section 194J cannot automatically classify receipts as professional income. Tax auth...
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 Kerala High Court has temporarily halted income tax recovery proceedings against Palode Service Co-Operative Bank Ltd a Primary Agricultural Credit Society. The Kerala High Court stayed income tax recovery proceedings against a Primary Agricultural Credit Society, citing a pending appeal where the core tax issue is allegedly covered by the Supreme Court’s Mavilayi Service Co-Operative Bank judgment.
The ITAT restored a charitable trust’s Section 80G(5) final approval application, ruling that rejection solely due to selecting the wrong sub-clause in the online Form 10AB was an error. The Tribunal held that such a technical mistake is curable and not grounds for outright dismissal.
The Chandigarh ITAT upheld the deletion of a ₹3.18 Crore disallowance under Section 40A(3), ruling that the large cash payment for land purchase was dictated by business expediency due to high mistrust and a prior dispute, despite exceeding the banking limits.
The ITAT dismissed the Revenue’s appeal, affirming that the ₹4.17 Crore TDS penalty order was invalid as it was passed over two years after the expiry of the statutory limitation period (June 30, 2014). This ruling reinforces that the limitation clock starts when the AO initiates the penalty in the assessment order.
The Delhi ITAT quashed a ₹42.10 Crore addition made in a Section 153A assessment, confirming that additions cannot be made to completed assessments without incriminating material seized during the search. The ruling follows the binding Supreme Court precedent in Abhisar Buildwell.
ITAT Delhi dismissed Revenue’s appeal, upholding CIT(A)’s deletion of addition from a share sale, ruling the transaction genuine as no evidence proved the shares were ‘penny stock’ or rigged.
In a case involving unexplained cash deposits, ITAT Agra restored appeal to AO, emphasizing need to examine documentary evidence of sale proceeds from agricultural land before confirming additions.
The ITAT Pune Bench set aside an ex-parte capital gains order, granting a non-filer taxpayer a final chance to present evidence for ₹2.03 Cr in land improvement costs to the CIT(A).
ITAT Raipur dismisses an appeal against an Income Tax penalty order as withdrawn, as the assessee opted for settlement under the Vivad Se Vishwas Scheme 2024, with a caveat for restoration if the settlement fails.
ITAT Jabalpur partially allowed Dayanand Paryani’s appeal, directing AO to replace a full Rs. 29,38,600/− cash credit addition with a 12% presumptive income rate, citing failure to calculate peak credit.
