Income Tax : The Income Tax Act, 2025 replaces old reassessment provisions with Sections 279 to 286 and increases reopening timelines in certai...
Finance : The amended Finance Bill 2026 abolishes the Tax Recovery Officer’s power to arrest and detain taxpayers for recovery of dues. Th...
Income Tax : The article explains why advertisement expenses for brand building remain deductible under Section 37. Courts have consistently ru...
Income Tax : The article explains how Section 115BAE offers newly established co-operative societies a concessional 15% tax rate for manufactur...
Income Tax : The Income-tax Act, 2025 replaces old Sections 68 to 69D with a simplified sequential structure under Sections 102 to 106. The cha...
Income Tax : The issue was complexity in the existing tax law. It was clarified that the new Act simplifies structure by reducing sections and ...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : The government informed Parliament that taxpayer-specific details of income tax searches cannot be disclosed due to confidentialit...
Income Tax : The Government clarified that the new income tax search provision does not expand powers or permit AI-based digital surveillance, ...
Income Tax : The representation highlights large-scale pendency and administrative bottlenecks under Sections 12AB and 80G, urging immediate re...
Income Tax : ITAT Delhi held that the assessee was covered under the search proceedings even though its name did not specifically appear in the...
Income Tax : Bangalore ITAT ruled that only solar days and not cumulative man-days should be considered while determining the existence of a Pe...
Income Tax : SC examined nature of amounts received from an AOP and upheld findings that receipts constituted profit share rather than revenue ...
Income Tax : The Rajasthan High Court held that the benefit of Section 115BAA could not be denied when Form 10-IC was filed within the period p...
Income Tax : The Court held that the petitioner had no connection with the entities or individuals from whose devices the disputed material was...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
Income Tax : The government enforced a tax collection assistance agreement with Japan effective from 8 July 2025. The notification enables cros...
Income Tax : CBDT updated DIN rules to align with new provisions introduced under the Finance Act, 2026. The circular mandates DIN for most tax...
Income Tax : The CBDT introduced Form ITR-U to allow taxpayers to update previously filed returns. The amendment promotes voluntary compliance ...
Income Tax : The CBDT has substituted the ITR-V form to strengthen verification of electronically filed returns. The amendment enhances accurac...
ITAT Kolkata held that imposition of penalty u/s. 271(1)(c) of the Income Tax Act untenable without concealment of particulars of income or for furnishing of inaccurate particulars. Accordingly, penalty deleted.
ITAT Delhi held that addition under section 68 towards unexplained income rightly deleted as no adverse incriminating material/ document found in the premises of the searched person. Accordingly, appeal of the revenue dismissed.
Telangana High Court held that accumulated profits under section 2(22)(e) of the Income Tax Act are to be computed taking into account the depreciation as per the Income-tax Rules. Thus, matter decided in favour of the assessee.
ITAT Mumbai held that addition under section 68 of the Income Tax Act made towards penny stock deleted since assessee duly discharged the onus cast upon him and there is no adverse order/penalty order against the Assessee.
ITAT Ahmedabad held that disallowances on account of excess contribution to PF deleted since the same didn’t exceed 27% of the salary and wages in terms of rule 87 of the Income Tax Rules. Accordingly, appeal allowed to that extent.
The Assessing Officer (hereafter AO) had made an addition to the income as returned by the respondent under Section 68 of the Act and disallowed the addition made under Section 14A of the Act.
ITAT Delhi resolves Cheil India Pvt. Ltd.’s appeal on CSR expense disallowance under Section 80G. Tribunal observed that CSR expenditures could qualify as donations if paid to approved institutions, distinct from direct CSR project costs
The writ petitioner company is non-deposit taking Non-Banking Financial Company (NBFC) having license from the Reserve Bank of India (RBI) for functioning as a Micro Finance Institution (MFI) registered with RBI.
ITAT Bangalore held that interest income received from co-operative society or co-operative banks is eligible for deduction under section 80P(2)(d) of the Income Tax Act. Accordingly, matter restored to AO to examine the source of interest income.
ITAT Kolkata held that imposition of penalty under section 271(1)(b) of the Income Tax Act justified as no plausible explanation was given by the assessee for non-compliance of notices served by AO.
