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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 proceedings for civil contempt against Principal Commissioner of Income Tax [PCIT] dropped since there is no wilful disobedience or order has not been passed with evil intent or with bad motive.
Mumbai ITAT rules capital gains on a foreign company’s share sale are non-taxable in India under Article 13(5) of the India-Singapore DTAA. TRC is conclusive proof.
ITAT ruled in Grasim Industries that a court-sanctioned scheme transfer before the 2021 amendment is a transfer by law, not a slump sale under Section 50B. The change is not retrospective.
Understand why ITR refunds are delayed, how processing works at CPC, and steps taxpayers can take to track status, verify accounts, and ensure smooth credit.
ITAT Jabalpur held that disallowance under section 43B of the Income Tax Act on account of non-payment of Rural Infrastructure tax and dead rent needs verification. Accordingly, matter restored to the file of AO.
The ITAT instantly dismissed the Revenues appeal because it only challenged the merits of additions, not the CIT(A)s core finding that the reassessment notice was time-barred. When the foundation of the reassessment is quashed and that ruling isnt appealed, all subsequent additions automatically collapse.
ITAT Kolkata held that issuance of reassessment notice under section 148 of the Income Tax Act expiry of specified period of limitation is time barred and hence invalid and bad-in-law. Accordingly, appeal of assessee is allowed and notice is quashed.
The ITAT deleted a Rs.1.30 crore addition, ruling that the reassessment was invalid because the reason for reopening (payments made by the assessee) was entirely different from the reason for the final addition (loan received by the assessee). The Tribunal held that an addition made on a new, unrecorded reason renders the reassessment proceedings unsustainable in law.
ITAT Kolkata held that passing of reassessment order without issuing any notice under section 143(2) of the Income Tax Act is bad in law and not jurisdictional. Accordingly, order quashed and addition is deleted.
Tax treatment of a foreign exchange fluctuation depended entirely on the nature of the underlying asset or liability. Gains or losses on capital items (like a long-term investment or loan) were not typically recognized for tax purposes until the asset was actually sold or the loan was repaid.
