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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...
ITAT Delhi rules DigiCert Inc’s receipts from Indian resellers for digital security certificates aren’t royalty or FTS. It’s a non-taxable sale of a copyrighted article.
ITAT Kolkata held that penalty paid to private entities/ third parties towards breach of contract is the usual course of business and doesn’t involve payment of penalty for infraction of any law hence disallowance made under Explanation to Section 37(1) of the Income Tax Act is unwarranted.
ITAT Jaipur quashed the reassessment order against Late Shri Jitendra Nagar, ruling the AO used the wrong authority (PCIT) for sanction under Section 151(ii), following the Supreme Court’s Rajeev Bansal precedent.
The ITAT Jaipur sustains additions under Sec. 68 for bogus unsecured loans in Bagaria Trade Impex case, rejecting technical relief and confirming the assessee failed to prove creditor genuineness.
ITAT Delhi rules Section 148 notice invalid as escaped income not represented in an ‘asset’; reassessment quashed for being time-barred.
ITAT Delhi held that notice under section 143(2) of the Income Tax Act issued by ITO, who didn’t have jurisdiction over the assessee, instead of DCIT is unwarranted. Thus, assessment order based on invalid notice is not sustainable.
ITAT Jaipur held that addition under section 68 of the Income Tax Act on account of unsecured loan is liable to be sustained since the assessee has miserably failed to establish the essential three ingredients as prescribed in section 68 of the Act. Accordingly, appeal of revenue allowed.
The ITAT Mumbai ruled that the power to reopen an assessment under Section 147/148 is invalid when a valid return is on record and the Assessing Officer still has time to initiate regular scrutiny under Section 143(2).
Kerala High Court held that appeals on identical issue can be disposed by passing single order containing single DIN. Thus, passing of single order for multiple appeal is legally valid. Accordingly, writ disposed of.
Relying on the jurisdictional High Court precedent, the Tribunal quashed the entire crore addition, holding that service of the notice beyond the statutory limitation date is a fatal flaw. The decision emphasizes that procedural compliance with the time limit is mandatory and cannot be waived.
