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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...
ITAT Delhi in RSWM Ltd. Khari Gram vs DCIT examines disputed additions under Section 69, allowability of education cess, and treatment of FPS/FMS, TUFS, and RIPS subsidies, emphasizing reliance on evidence and judicial precedents.
Gujarat High Court held that reassessment show cause notice under section 148 of the Income Tax Act issued after 18.06.2022 i.e. after surviving time’ would be invalid and accordingly, notice is quashed and set aside.
The Income Tax Appellate Tribunal (ITAT) Delhi has set aside a significant tax addition against Maple Destinations, ruling that the reassessment was based on uncorroborated, retracted statements and a denial of the assessee’s right to cross-examination, which violated principles of natural justice.
High Court dismissed a petition challenging a Section 148 notice for AY 2019-20, confirming that only faceless AOs can initiate reassessment, ensuring compliance with CBDT-mandated procedures.
The Delhi High Court has held that a jurisdictional assessing officer lacks the authority to initiate reassessment proceedings under Section 148 of the Income Tax Act, 1961, after the implementation of the Faceless Assessment Schemes.
The Delhi High Court has upheld the jurisdiction of the Assessing Officer to issue reassessment notices to PC Jeweller, citing a previous ruling.
ITAT Hyderabad held that alleged discrepancy i.e, the suppression of the purchases/sales/closing stock based on distorted figures by AO resulting to an exorbitant addition is unsustainable in law. Accordingly, appeal of assessee allowed.
Gifts to a spouse are tax-exempt for the recipient, but Section 64(1)(iv) clubs income from the gifted asset with the transferor’s income. Learn about clubbing rules, second-generation income, and strategies like tax-free investments, joint accounts, and gifts to major children to mitigate tax impact.
The Rajasthan High Court ordered the CBDT to extend the Tax Audit Report (TAR) due date to October 31, 2025, citing widespread technical glitches on the e-filing portal and a substantial filing shortfall.
ITAT Mumbai set aside the ex parte dismissal of a Trust’s Section 271(1)(b) penalty appeal. Tribunal mandated a fresh hearing, citing pending Section 144 assessment and natural justice.
