Read all Latest Updates on and about Income Tax Act

Top

Begin typing your search above and press return to search.

Home
»
Income Tax Act

SCN issued under Income Tax Act due to Failure on part of Accountant: Calcutta HC Dismisses Challenge Against order passed u/s 144 B on availability of Statutory Remedy [Read Order]

Yogitha S. Yogesh

The Calcutta High Court dismissed the challenge against the order passed under section 144 B of the Income Tax Act, 1961, on the availability of...

Claim of Breach under Article 265 cannot be from a interlocutory order by Assessing Officer: Bombay...

Relief to Mahindra & Mahindra Ltd, AO Has No Jurisdiction to Alter Net Profit in P & L Account...

Taxability of Employee Leave Encashment from Govt and Non-Govt Depts must be Examined Separately:...

Madras HC Validates Reassessment Notices Issued Pre-Finance Act, 2021 Citing TOLA Extension [Read...

CBDT grants Income Tax Exemption u/s 10(46A) to Karnataka Electricity Regulatory Commission Subject to Condition [Read Notification]

The Central Board of Direct Taxes ( CBDT ) has notified income tax exemption to the Karnataka Electricity Regulatory Commission (KERC), Bengaluru, under the clause (46A) of Section 10 of the ...

Gifting Property to Spouse? Know the Tax Rules That Still Apply

When a husband gifts a share in an immovable property to his wife, it may seem like a tax free transaction. Under the IncomeTax Act, such gifts are not treated as income and are also exempt from...

After Ahmedabad Air India Tragedy, Families to Receive Rs.1 Crore Compensation, But Is It Taxable?

The nation woke up to heartbreak on June 12, 2025, as news broke of the catastrophic Air India Flight AI171 crash in Ahmedabad. The London-bound Boeing 787-8 Dreamliner, carrying 242 people, struck...

Bulk Disposal Indicates Absence of Judicial Mind: ITAT Slams Income Tax Dept [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) held that the bulk disposal of cases by the Income Tax Department amounts to a mechanical and non-judicious approach in granting ...

India’s Law Taxes It All: Taxing Income from Illegal Sources

We are all well familiar with the concepts of income and income tax, even if not in their full-length legal details but at least in everyday terms. So, naturally the next question as soon as you...

Himachal Pradesh HC Allows Benefit u/s 80-IC of Income Tax Act @ 100% of profit relying on Supreme Court Judgement [Read Order]

Relying on the Supreme Court judgment in Principal Commissioner of Income Tax, Shimla vs. Aarham Softronics (2019), the Himachal Pradesh High Court has held that an assessee who sets up a new...

ITAT Quashes Assessments Citing Mechanical Approval u/s 153D [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench has annulled the assessment orders passed against the appellant for Assessment Years 2013–14, 2014–15, and 2019–20, holding that the approval...