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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...
A revised tax return helps you correct mistakes in your ITR filing. Learn who can file, the deadline, and how to file a revised return on the e-Filing portal.
Madras High Court held that completion of assessment on best judgement as the petitioner had not shown cause in response to the notice vis-à-vis assessment made after several years of return filing. Hence, matter restored back for providing opportunity of being heard to petitioner.
The Ministry of Finance grants income tax exemption to the High Court Legal Services Committee in Chandigarh on specific income, including grants and interest.
The Ministry of Finance grants income tax exemption to Rajasthan’s Real Estate Regulatory Authority for specific incomes under the Income-tax Act, 1961
Gujarat High Court held that reopening of assessment under section 148 of the Income Tax Act alleging accommodation entries not sustained in absence of any supporting, independent, tangible material. Accordingly, reopening quashed as genuineness of loan established.
The Delhi High Court has ruled that a Jurisdictional Assessing Officer can initiate reassessment proceedings, citing a prior judgment that found concurrent jurisdiction with Faceless Officers.
The Allahabad High Court has set aside an ex-parte penalty order issued against Beyond Research And Development Limited, ruling that the denial of an opportunity to be heard violated principles of natural justice and procedural fairness.
The Delhi High Court has remanded a case on late ITR filing, ruling that a 12-day delay during the COVID-19 pandemic constitutes “genuine hardship.”
High Court set aside the AO’s addition of expenses in the assessment of a SEBI Category II AIF, holding that the addition was unlawful as no deduction was claimed by the fund or its unit holders.
The Bombay High Court has quashed a penalty order against Man Truck & Bus India Pvt. Ltd., citing a failure to grant a virtual hearing and a flawed assessment basis under an Advanced Pricing Agreement.
