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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 held that an inadvertent mistake in Schedule 112A relating to the acquisition period of mutual fund units could be re...
Income Tax : The Court held that reassessment proceedings cannot be sustained merely on the basis of an unsigned and unauthenticated loose pape...
Income Tax : ITAT Delhi set aside the assessment after finding that the assessees additional evidence had not been properly scrutinized by the ...
Income Tax : The Tribunal held that delayed filing of Form 10-IC should not defeat the assessee's substantive right to opt for the concessional...
Income Tax : The Tribunal held that deduction of tax under Section 194J cannot automatically classify receipts as professional income. Tax auth...
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...
Missing the ITR due date u/s 139(1) mandates the use of the new tax regime, as the option to choose the old regime or file Form 10−IEA is lost.
ITAT Delhi quashed Balaji Metal Tech’s assessment, ruling it void due to mechanical approval, wrong section use (143(3) instead of 153C), and failure to mention DIN in the order.
ITAT Mumbai quashes PCIT’s S. 263 revision against Colgate Palmolive, holding PCIT cannot disregard binding Coordinate Bench order based merely on Supreme Court appeal pendency.
ITAT Delhi quashes search assessments, ruling consolidated S. 153D approval for multiple assessees was mechanical, violating judicial mandate for independent application of mind.
Construction was funded through borrowed money, and assessee sought to utilize the account funds to repay the debt. However, Department denied the request to close the account and release funds citing incomplete construction, use of borrowed funds, non-filing of returns for the relevant assessment years, and non-compliance with Section 54F conditions.
ITAT held that provisions taxing difference in stamp value and purchase price apply only to land and buildings, not leasehold rights. Addition of ₹21.95 lakh was set aside.
Assessee argued that the order was barred by limitation because it was not served within the prescribed time. AO countered this, claiming the order was dispatched via speed post on December 30, 2017, and had thus left the office within the deadline.
Delhi High Court held that addition of demonetization cash deposit under section 68 of the Income Tax Act towards unexplained cash credit rightly deleted by CIT(A) since source of deposit duly explained with documentary evidence. Accordingly, appeal of revenue dismissed.
Mere act of depositing cash into a bank account, even during demonetization, was not conclusive proof of unexplained income under Section 69A especially for a business operating under a presumptive tax scheme.
High Court held that the Revenue itself had accepted the provision in earlier years and not disputed it even before the jurisdictional High Court in appeal for AY 2009-10. Since the provision was scientific and actually discharged, no substantial question of law arose.
