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AO Cannot Travel Beyond Limited Scrutiny Without Pr. CIT’s Consent: ITAT reiterates CBDT Instruction, Deletes Addition u/s 36(1)(iii) [Read Order]

Navasree A.M

The Delhi Bench of the Income Tax Appellate Tribunal ( ITAT ) has quashed an addition of over ₹3.83 crore made by the Assessing Officer ( AO ) under...

Managing Section 143(2) Income Tax Scrutiny Notices for AY 2024–25: A Guide for Tax Practitioners...

Section 44AB Tax Audits: Do’s and Don’ts for Smooth Reporting

CBDT Directs Income Tax Officials to Ask Only Relevant, Specific Questions During Scrutiny

Income Tax Update: CBDT Relaxes Time Limit for Processing Valid Returns Filed Electronically...

Centre Grants Income Tax Exemption to Food Safety and Standards Authority of India [Read Order]

The Ministry of Finance issued Notification No. 68/2025, dated June 24, 2025, granting income tax exemption to the Food Safety and StandardsAuthority of India (FSSAI) under Section 10(46A)(b) of the...

S.11 & 12 Exemption Cannot Be Denied Merely Due to Delayed Registration of Trust: ITAT [Read Order]

The Surat Bench of the Income Tax Appellate Tribunal (ITAT) remanded the case concerning the denial of exemption under Sections 11 and 12 of the Income Tax Act, 1961 to Shree Koteshwar Mahadev...

CBDT notifies exemption from Withholding Tax for Payments Made to Units of International Financial Services Centre (IFSC)

The Ministry of Finance issued Notification No. 67/2025 dated June 20, 2025, granting exemption from withholding tax (TDS) on specified payments made to units operating within International...

CBDT exempts Specified Income of Forum of Regulators from Taxation [Read Notification]

In a significant move aimed at supporting regulatory bodies in India, the Central Board of Direct Taxes (CBDT) has granted income tax exemption to the Forum of Regulators (FoR). The exemption,...

Dental Council of India exempted from Income Tax: CBDT [Read Notification]

Under the Income-tax Act of 1961, the Central Government exempted the Dental Council of India ( DCI ) from income tax under Section 10(45A) of income tax act, 1961. With effect from the...

Explanation to Income Tax S. 12AB(4) on 'Specified Violations' Introduced in Finance Act, 2022 Applies Prospectively Only: ITAT [Read Order]

The Income Tax Appellate Tribunal ( ITAT ), Delhi Bench, has held that the Explanation to Section 12AB(4) of the Income Tax Act, 1961, introduced by the Finance Act, 2022, which explains ...

Himachal Pradesh Board of School Education Exempted from Income Tax: CBDT [Read Notification]

The Central Board of Direct Taxes ( CBDT ) has granted income tax exemption to the Himachal Pradesh Board of School Education (HPBOSE), Dharamshala, under clause (46) of section 10 of the Income-tax...