Union Budget 2026: FM Sitharaman Unveils Major Tax Relief for Cooperatives, IT Services and Global Investors
Union Finance Minister Nirmala Sitharaman, in her Budget 2026 speech, announced a wide-ranging set of tax reforms aimed at strengthening cooperatives, reinforcing India’s leadership...
Budget 2026: FM Sitharaman Proposes to Decriminalise Minor Tax Offences, Rationalise Penalty and Prosecution Framework
In a significant reform aimed at reducing tax litigation and improving ease of doing business, Union Finance Minister Nirmala Sitharaman, in her Union Budget...
Budget 2026: FM Sitharaman Proposes Extended ITR Revision Window and Staggered Filing Deadlines
In a major relief for taxpayers, Union Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2026-27, announced significant changes to income tax return...
New Income Tax Act from April 1, 2026: Know Who Benefits
Union Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2026, announced a landmark overhaul of India’s direct tax framework with the introduction of...
Additions Citing Unexplained Cash Credits Inapplicable Where No Books Maintained: ITAT Treats Entire Bank Deposits As Business Receipts of Fruit Trader
The Bangalore Bench of the Income Tax Appellate Tribunal (ITAT) has held that additions under Section 68 of the Income Tax Act, 1961 cannot...
Cash Withdrawals from Disclosed Bank Accounts Can’t Be Treated as Unexplained Money Without Adverse Evidence: ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed a batch of appeals filed by the Revenue and upheld the deletion...
Rs. 302 Crore Income Tax Addition Quashed for Violation of Natural Justice Over Undisclosed CBEC Import Data: Bombay High Court
The Bombay High Court has set aside an income tax assessment order raising an addition of over Rs. 302 crore against JSW Minerals Trading...
Income Tax Dept. Can Inspect Seized Jewellery Without Disclosing Reasons During S. 263 Proceedings: Calcutta High Court
The Calcutta High Court has ruled that the Income Tax Department is not required to disclose the information or reasons prompting inspection of seized...
Reassessment Void for Want of Mandatory Approval Under Section 151 of Income Tax Act: Calcutta HC
The Calcutta High Court has dismissed an appeal filed by the Income Tax Department, holding that the reassessment proceedings initiated against a taxpayer were...
Assessment Void Where Notice Issued by Officer Lacking Pecuniary Jurisdiction: Calcutta High Court
The Calcutta High Court has held that assessment void where notice issued by officers lacking pecuniary jurisdiction.The Bench of Justice Rajarshi Bharadwaj and Justice...
DRP Assessments Invalid If Passed Beyond Limitation Under Section 153: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed multiple final assessment orders, holding that assessments completed through the Dispute Resolution...
Mandatory Faceless Regime Under S. 151A: Rajasthan HC Quashes Income Tax Reassessment Notice Issued by JAO
The Jaipur Bench of Rajasthan High Court has once again reinforced the primacy of the faceless assessment and reassessment framework under the Income Tax...
DRP Route Inapplicable Where TPO Proposes No TP Adjustment: ITAT
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed the final assessment order holding that the Assessing Officer (AO) lacked jurisdiction...
Supreme Court to Examine Conflicting Views on Deductibility of Delayed Employees’ PF & ESI Contributions
The Supreme Court issued notice in a Special Leave Petition filed by Woodland (Aero Club) Private Limited, seeking authoritative clarity on a long-standing and...
Delhi High Court Pulls Up ITAT for Dismissing Transferred Appeals, Restores Over 200 Sahara Group Matters to Delhi Bench
In a strong rebuke to the Income Tax Appellate Tribunal (ITAT), the Delhi High Court has set aside a series of orders by the...
Income Tax Dues Take Priority Over Post-Notice Mortgage Created Without TRO Permission: Madras HC
The Madras High Court has held that a mortgage created after service of a tax recovery notice under Rule 2 of the Second Schedule...
FMV of Ownership Flat Received on Surrender of Tenancy Rights to Be Treated as Cost of Acquisition for Capital Gains: ITAT
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has held that where a taxpayer receives an ownership flat in exchange for surrender...
Mere Marketing Support Not ‘Fees for Included Services’, but Excessive Claims Need Proof: ITAT Caps Allowable Marketing Expenses at 20%
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has partly allowed cross-appeals filed by the Revenue and the assessee in a significant...
Limitation Applies Despite DRP Route: ITAT Quashes Oracle India’s Final Assessment as Time-Barred
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) has quashed the final assessment order passed against Oracle India Private Limited for Assessment...
Foreign Tax Information Reference Can’t Extend Limitation: Delhi HC Holds Search Assessments Time-Barred U/s 153B
The Delhi High Court while terming search assessments as time-barred under Section 153B of the Income Tax Act, 1961 held that foreign tax information...
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