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Income Tax : The article explains how accurate Form 10BD reporting protects donor deduction claims, prevents penalties, and ensures consistency...
Income Tax : The article explains what remains unchanged under the new tax law while highlighting critical compliance checks taxpayers should u...
Income Tax : The provisions under Sections 80C, 80D, 80DD, and 80DDB provide tax deductions because taxpayers incur eligible expenses on life i...
Income Tax : AO rejects books of accounts and applies flat net profit rate. Can taxpayer claim depreciation separately or is it embedded in tha...
Income Tax : The updated provisions explain how long-term capital gains are classified, computed, and taxed following amendments introduced by ...
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 Delhi ITAT held that electricity charges paid to statutory authorities in the ordinary course of business qualify as deductibl...
Income Tax : The ITAT Bangalore held that additions under Section 68 could not be sustained without proper examination of bank statements, PAN ...
Income Tax : The High Court held that appeals concerning the adequacy of sentence should be presented before the jurisdictional Sessions Court....
Income Tax : The Court held that transferring assessment proceedings under Section 127 was justified to facilitate coordinated investigation in...
Income Tax : The Court held that transfer of assessment proceedings to Delhi was justified where connected cases had already been centralized f...
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...
Income Tax Department has introduced a new feature in the e-filing portal that shows when an Assessing Officer or CIT(A) views a taxpayer’s submission, ensuring transparency and accountability in faceless assessments and appeals.
Gujarat HC has directed CBDT to ensure that there is a mandatory one-month gap between date for furnishing tax audit reports (under Section 44AB) and due date for filing corresponding Income Tax Return (ITR).
CBDT Circular 13/2025 addresses tax demands after ITR processing due to Section 87A rebate denial on special rate income. Interest waived if paid by Dec 31, 2025.
Interest under Section 234B cannot be levied on Section 115BBE-assessed income for resident senior citizens exempt from advance tax, as per ITAT and CBDT guidance.
ITAT Jaipur ruled that reassessment under Section 148 based solely on Investigation Wing’s report without independent verification is invalid and void ab initio.
ITAT Mumbai upholds CIT(A)’s deletion of ₹5.73 crore addition u/s 68, holding HUF proved loan identity, creditworthiness, genuineness, and repayment with interest.
ITAT Delhi ruled in favor of Air Con Systems (India) Pvt. Ltd., deleting a ₹62,00,000 addition made under Section 69A of the Income Tax Act. The addition was based solely on notings in an undated loose paper seized from a third party’s residence.
Tribunal held that the enhanced leave encashment limit of ₹25 lakh, notified by CBDT on 24 May 2023, applies retrospectively to non-government employees. The assessment order was set aside, granting full exemption benefit to the retired SBI officer.
Upholding the CIT(A)’s decision, the ITAT confirmed that the charitable trusts claim for exemption on ₹2.45 crore application of income could not be denied. The ruling establishes that the registration granted under Section 12AA, even if initially delayed, holds legal force for the current assessment year, nullifying the AOs attempt to tax voluntary contributions.
ITAT quashes Rs.8.8 Cr penalty u/s 271G on Atul Ltd.. Penalty applies for non-furnishing TP docs, not for TPO’s rejection of the assessee’s benchmarking method. Cites Delhi HC precedent.
