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Income Tax : The Supreme Court dismissed the Revenue's review petitions and reiterated that payments for off-the-shelf software do not constitu...
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 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 : ITAT Ahmedabad held that a protective addition cannot be deleted merely because a substantive addition has been confirmed at the f...
Income Tax : The Tribunal held that a 12.5% disallowance could not be sustained when the Assessing Officer neither rejected the books of accoun...
Income Tax : Despite a significant gap between the agreement and registration dates, ITAT granted relief under the first and second provisos to...
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 : 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...
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.
The Bombay High Court dismisses a tax appeal, affirming the right of charitable trusts to carry forward and set off previous years’ deficits against current income.
The Bombay High Court dismisses a writ petition from a taxpayer challenging assessment and penalty orders, citing the principle of alternative remedy and directing the petitioner to pursue existing appeals before the CIT(A) for a swift resolution.
The ITAT has deleted gross profit additions made to Sunil Garg’s income, ruling that the Assessing Officer’s actions were arbitrary and lacked incriminating material.
The Bombay High Court has quashed an order by the Income Tax Appellate Tribunal (ITAT), ruling that a subsequent judgment from a superior court is not a valid ground to rectify or recall a previous order.
The ITAT Mumbai, in the case of DCIT vs. JM Financial Services, ruled that a loss from speculative share trading cannot be set off against a profit from non-speculative Futures and Options (F&O) transactions.
The ITAT in Mumbai has restricted an income tax disallowance on alleged bogus purchases for Quality Heightcon, capping it at 12.5% of the total amount and citing judicial precedents.
