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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 Bangalore upheld deduction of ESOP expenditure under Section 37, holding that the liability arising from employee stock o...
Income Tax : The ITAT Delhi held that cash deposits during the demonetization period could not be treated as unexplained credits when they orig...
Income Tax : ITAT Hyderabad held that dismissal of an appeal under section 249(4)(b) was unjustified where the assessee claimed that the receip...
Income Tax : The Tribunal ruled that premium rooms, higher tariffs, and specialized medical facilities cannot by themselves establish a profit ...
Income Tax : The ITAT Delhi held that free tickets, hospitality, conveyance, goods, and lodging expenses attracted Fringe Benefit Tax under the...
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...
Kerala High Court held that as the gold claimed by the petitioner, is already assessed in the name of the husband of the petitioner, and the proceedings in respect of the same are concluded, the petitioner cannot make a further claim in respect of the same. Accordingly, writ dismissed.
It was held that regarding section 80-IA issue, Tribunal relied on its own earlier orders in assessees own cases for AYs 2014-15 and 2016-17. It held that since the power plant was transferred as part of a court-approved amalgamation, the assessee was entitled to step into the shoes of the amalgamating company and claim the deduction.
The ITAT Rajkot confirmed the addition of Rs.3.99 crore to the income of Kataria Snack Pellets Pvt. Ltd. under Section 56(2)(viib), ruling that the company’s Discounted Cash Flow (DCF) share valuation was speculative, lacked empirical support for growth rates and terminal value, and failed to adhere to ICAI guidelines.
ITAT Ranchi quashes PCIT’s Section 263 order against a Co-operative Society (Chotanagpur Catholic Mission). Rules 80P deduction cannot be denied after AO’s thorough verification.
ITAT Ahmedabad deletes Rs.8.14 lakh addition, ruling that AO’s estimation of agricultural expenses using an unrelated 40% benchmark was arbitrary and unsustainable in law.
ITAT Chennai sustains 50% disallowance of claimed agricultural income (Padam Kumar Vs DCIT). Holds land ownership alone doesn’t prove cultivation; evidence is necessary.
ITAT Chennai deletes Rs.1.86 Cr unsecured loan addition u/s 68 after verifying director source. Remands Rs.1.01Cr cash payment (40A(3)) and restricts TDS default (40(a)(ia)) additions.
ITAT Chennai rules sale of land 16 km from municipality is exempt agricultural income (Anita Vs ITO). Deletes LTCG and restricts Sec 14A disallowance to exempt income.
Ahmedabad ITAT deletes ₹34 lakh disallowance on commission and job-work. TDS compliance proven via Form 26AS, and commission nexus established by increased sales.
Kolkata ITAT rules that delayed Form 67 filing isn’t fatal to FTC claim. FTC is a substantive right under Section 90; Rule 128’s timeline is directory, not mandatory.
