Latest Income Tax News, Updates & Judgments

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

The Central Government has notified exemption to four statutory bodies from Income Tax under Section 10(46) of the Income Tax Act, 1961. The...

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

Revenue Challenges Gujarat HC Order on Reopening Income Tax Assessment Based on External Trading...

Rajasthan Tax Consultant’s Association Urges Finance Minister and CBDT to Extend Date of Tax Audit...

Trust Activities Not Found Wholly Religious: ITAT says Free Feeding, Education is Charitable, Orders...

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 ...

Simultaneous Deductions u/s 80IB and S. 80HHC can be Deducted from Net Profit: ITAT follows Supreme Court decision, Allows Appeal [Read Order]

The Income Tax Appellate Tribunal (ITAT), Lucknow, examined whether an assessee is entitled to claim simultaneous deductions under Section 80IB and Section 80HHC of the Income Tax Act, 1961. The...

CIT(A) & AO Ignores status of GST Angle in ₹25.17 cr Bogus Purchase Case: ITAT orders fresh Adjudication [Read Order]

The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) has remanded a case involving alleged bogus purchases worth ₹25.17 crore to the Assessing Officer (AO) for a fresh inquiry, after...

Rejection of Books u/s 145 Does Not Retrospectively Waive Mandatory Obligation to Furnish Audit Report u/s 44AB: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad, held that the rejection of books under Section 145 during assessment proceedings does not retrospectively nullify the obligation to comply with...

AO Fails to Carry Out Adequate Verification with GST dept: ITAT Remands Alleged Bogus Purchase Addition of ₹10.51 Crore [Read Order]

The Income Tax Appellate Tribunal (ITAT), Hyderabad remanded the matter of alleged Rs. 10.51 crore addition back to the Assessing Officer (AO) as it failed to verify the carry out the independent...

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