Mere Loose Papers Not Admissible Evidence For Making Income Tax Addition: ITAT
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that loose papers cannot be considered as admissible evidence for making an addition...
Delhi High Court Quashes Reassessment Against Departmental Stores Selling Wine, Beer
The Delhi High Court has quashed reassessment against departmental stores selling wine and beer.The bench of Justice Vibhu Bakhru and Justice Tushar Rao Gedela...
Compensation For Compulsory Acquisition Of Landed Property Is Income Under Capital Gains: Kerala High Court
The Kerala High Court has held that amount received as compensation for compulsory acquisition of landed property is income under capital gains.The bench of...
Sub-Registrars To Report Cash Payments of Rs. 2 Lakh and Above In Property Deals To Income Tax Dept.: Supreme Court
The Supreme Court directed the sub-registrars to report cash payments of Rs. 2 lakh and above in property deals to the income tax department.The...
Compensation For Delay In Property Handover By Builder Not Taxable: ITAT
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has held that the compensation for delay in property handover by builder is not taxable...
No Capital Gain Tax Payable By NRI On Mutual Fund Gains: ITAT [READ ORDER]
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that no capital gain tax payable by Non-Resident Indian (NRI) on Rs. 1.35...
S. 271(1)(c) Penalty Not Applicable On Voluntary Surrender, Bonafide Mistake: Chhattisgarh High Court
The Chhattisgarh High Court has issued the clarification on the penalty under Section 271(1)(c) while emphasizing on voluntary surrender and bonafide mistake.The bench of ...
DRI Officer Among Eight Arrested; Punjab Police Bust Pakistan-Backed Drug Cartel
In a major crackdown on drug smuggling, the Punjab Police has successfully dismantled a Pakistan-backed drug cartel, arresting eight key operatives, including a Directorate...
Once Tax Is Assessed, Entire Amount Has To Be Paid In Absence Of Amnesty Schemes: Kerala High Court
The Kerala High Court has held that once tax has been assessed, the entire amount has to be paid, unless there are amnesty schemes.The...
Kerala High Court Condones Delay In Filing Audit Report
The Kerala High Court has condoned the delay in filing the audit report for the assessment year 2021-2022.The bench of Justice Bechu Kurian Thomas...
Surcharge On Private Discretionary Trusts To Be Computed As Per Slab Rates Prescribed In Finance Act: ITAT
The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that surcharge on private discretionary trusts to be computed as per slab rates...
CBDT Exempts HUDCO Bonds From LTCG
The Central Board of Direct Taxes (CBDT) has notified that bonds issued by the Housing and Urban Development Corporation Limited (HUDCO), redeemable after five...
ITR-B For Block Search Assessment Return U/S.158BC(1)(a) of Income Tax Act: CBDT
The Central Board of Direct Taxes (CBDT) has notified the ITR-B For block search assessment return under section 158BC(1)(a) of Income Tax Act which...
CBDT Notifies April 30, 2025 as Deadline Under Vivad se Vishwas Scheme 2024
In a significant update under the Direct Tax Vivad se Vishwas Scheme, 2024, the Central Board of Direct Taxes (CBDT), Ministry of Finance, has...
Bank Fraud: Madhya Pradesh Labourer Receives Rs. 314 Crore Income Tax Notice
In a startling case that has exposed alarming loopholes in financial monitoring and identity verification, a daily wage labourer from Multai in Madhya Pradesh’s...
Delhi High Court Quashes 2nd Reassessment Notice Issued Beyond 4 Years
The Delhi High Court has quashed the 2nd Assessment Notice which was issued beyond 4 years i.e. beyond the limitation period.The bench of Justice...
Supreme Court Order On AY 2015-16 Post Rajeev Bansal Case
The Supreme Court comprising Justice B.V. Nagarathna and Justice Prasanna B. Varale has dismissed a Special Leave Petition (SLP) filed by the Income Tax...
ITR-2 Filing Process 2025-26
Filing your Income Tax Return (ITR) is a crucial annual responsibility for taxpayers in India. For the Assessment Year (AY) 2025-26, understanding the nuances...
Rs 37.87 Cr Tax Notice to Sirsa Barber: Loan App Linked to PAN Fraud
In a shocking case of suspected financial fraud, a barber from Sirsa has received a staggering ₹37.87 crore income tax notice, despite earning only...
TDS Rate Chart for FY 2025-26 AY 2026-27
Tax Deducted at Source (TDS) is a mechanism implemented by the Indian government to collect taxes at the source of income generation. Under this...
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