Latest Income Tax News, Updates & Judgments

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Dispute Over ₹39.91 Lakh Time Deposit with Bank of Baroda: ITAT Remands Matter to AO for Readjudication [Read Order]

The Ranchi Bench of Income Tax Appellate Tribunal (ITAT ) remanded the matter to the Assessing Officer (AO) for readjudication in a dispute over an...

Taxing Corresponding Interest Income on Asset Transfer to SPVs on Assessee amounts to Double...

Notice by Non-Jurisdictional AO Invalid: ITAT Renders Addition u/s 69A Void Ab Initio [Read Order]

S. 194C(6) & 194C(7) Operates Independently: ITAT directs to Reconsider Disallowance of...

Central Govt exempts Four Government Entities from Income Tax Purview u/s 10(46)

CBDT issues Corrigendum to Income Tax Act, 2025 [Read Notification]

The Central Board of Direct Taxes (CBDT), through the Ministry of Law and Justice, has issued a corrigendum to the recently enacted Income-tax Act, 2025 (30 of 2025), correcting several typographical...

Revenue Challenges Gujarat HC Order on Reopening Income Tax Assessment Based on External Trading Data Before Supreme Court [Read Order]

The Revenue approached the Supreme Court challenging a Gujarat High Court judgment that quashed a reassessment notice issued under Section 148 of the Income Tax Act, 1961, on the ground that the...

Rajasthan Tax Consultant’s Association Urges Finance Minister and CBDT to Extend Date of Tax Audit Report to 15th Nov

On September 1, 2025, the Rajasthan Tax Consultant’s Association (RTCA), Jaipur, has urged the Union Finance Minister and the Chairman of the Central Board of Direct Taxes (CBDT) to extend the due ...

Trust Activities Not Found Wholly Religious: ITAT says Free Feeding, Education is Charitable, Orders Reconsideration of 12AB & 80G Applications [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Bangalore Bench, has set aside the order of the Commissioner of Income Tax (Exemptions) [CIT(E)] which had classified Charitable Trust as a religious...

Waiting for Your ITR Refund in 2025? Here’s why it’s delayed and know how you can fix it

For many taxpayers, an income tax refund feels like a welcome relief after months of planning, paperwork, and payments. Yet in 2025, thousands of people are still waiting, often far longer than...

PAN Misuse Scam: UP Sweet Shop Owner Slapped With Rs. 141 Crore Income Tax Notice

A small sweet shop owner has received an income tax notice demanding an unbelievable amount of money. The notice was sent by the Income Tax Department accusing him of tax evasion worth more than ...

CBDT Extends Income Tax Exemption Timelines by Six Years for Sovereign Wealth and Pension Funds u/s 10(23FE) [Read Notification]

The Central Board of Direct Taxes (CBDT), Ministry of Finance, has issued Notification G.S.R. 598(E) dated September 1, 2025, introducing the Income-tax (Twenty-Fifth Amendment) Rules, 2025. This ...

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