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Income Tax : The article argues that the daily backup requirement under Rule 46(8) applies only to books maintained in electronic mode, not mer...
Income Tax : Judicial authorities have held that Foreign Tax Credit is a substantive right and cannot be denied merely due to procedural delays...
Income Tax : This guide explains how unexplained cash credits under Section 68 and related provisions can attract steep taxation under Section ...
Income Tax : The document outlines how MAT and AMT ensure that companies and eligible non-corporate taxpayers pay a minimum level of income tax...
Income Tax : The document outlines the categories of income exempt from taxation under Section 10 of the Income-tax Act and the conditions atta...
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 cash deposits linked to recorded cash sales could not be taxed again under Section 68, as doing so would am...
Income Tax : The Tribunal held that cash received from members and credited to their accounts could not be treated as unexplained income of the...
Income Tax : The Tribunal ruled that the Assessing Officer erred in applying a 6% net profit rate without examining comparable cases engaged in...
Income Tax : The High Court held that the Appellate Tribunal erred in restoring benami appeals solely on the basis of liberty granted in a late...
Income Tax : The High Court held that reassessment notices issued physically by jurisdictional officers instead of faceless authorities violate...
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 Pune set aside rejection of 12A registration after finding non-compliance was due to staff error; matter remanded to CIT(E) for fresh consideration.
ITAT, Pune, ruled in Manisha Dhananjay Holkar vs. ITO that CIT (Appeals) [CIT(A)] cannot dismiss an appeal solely due to appellant’s non-appearance.
ITAT Lucknow ruled that protective tax additions on ₹6.58 crore cash/jewellery in employees’ hands must be deleted after the real owner’s substantive assessment was finalized.
The ITAT ruled the PCIT cannot set aside an assessment u/s 263 for ‘inadequate inquiry’ without conducting an independent investigation to establish prejudice to the Revenue.
Pune ITAT voids 12A registration rejection as CIT(E) denied the trust a virtual hearing, citing a Bombay HC ruling on natural justice violation.
ITAT Pune remands ESOP tax dispute, citing AO/CIT(A) failure to verify year of acquisition and valuation errors, directing fresh assessment to prevent double taxation.
Gujarat High Court rules tax cannot be recovered from employees when employer fails to deposit deducted TDS; directs CBDT to enforce Section 205 compliance.
Kerala High Court rules that Section 54F exemption applies only to new residential construction, not renovation or extension of existing houses.
Delhi High Court holds Section 54F exemption valid even if house construction began before sale of asset, reaffirming liberal interpretation of tax relief.
Understand how employers calculate the average rate of TDS on salary under Section 392 of the Income-tax Act, 2025, for both Old and New Tax Regimes, including mandatory revisions.
