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ITR Refund Still Not Credited? Check How Much Interest Department Must Pay You

Navasree A.M

If you filed your income tax return ( ITR ) months ago and find yourself checking your bank account every day for a tax refund, you’re definitely...

ITR filed rejected in absence of TAR: Delhi HC sets aside Income Tax Order rejecting Condonation...

Income Tax Dept. Notifies all 7 ITR Filing Forms for AY 2025-26: Changes to Capital Gains, TDS,...

Genuineness of Loans u/s 68: ITAT Orders Fresh Verification of Creditworthiness and Transactions...

Reassessment Initiated Based on Incorrect Non-Filing of ITR Alert from Insight Portal: Patna HC...

Income Tax Deductions Every Salaried Person Should Know: Here's 2025 Update

The Indian tax system offers two ways for salaried individuals to calculate their income tax: the new tax regime and the old tax regime. Starting from the financial year 2025–26 (Assessment Year...

220 Days Delay in ITR Processing: What Happened to 45-Day Standard?

The Income Tax Return ( ITR ) was delayed for 220 days and even more and what really happened for the 45 day standard? Under normal circumstances, the Income Tax Department aims to process ITRs...

Reassessment Initiated on Incorrect Jurisdiction and Mechanical Approval: ITAT quashes Proceedings [Read Order]

The Delhi Bench of Income Tax Appellate Tribunal(ITAT) quashed the reassessment proceedings initiated under Section 147, citing incorrect jurisdiction and mechanical approval under Section 151 of...

Do you Run a Partnership Firm? Know the Key Income Tax Changes Effective from the 1st of April, 2025

Starting April 1, 2025, partnership firms, including Limited Liability Partnerships (LLPs), will have to comply with two significant income tax changes brought in by the Finance (No. 2) Act, 2024....

CPC Adds Amount Already Included in Taxable Income: ITAT Deletes Erroneous ₹19,253 Double Addition [Read Order]

The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) deleted an erroneous addition of Rs. 19,253 made by the Centralized Processing Center (CPC) after finding that the amount had already been...

Rulings on Disallowance of Interest under Income Tax Act

Disallowance of Interest means any interest which is disallowed for non-compliance with the provisions of the Income Tax Act, 1961. The Income Tax Act, 1961, states about restrictions for claiming...

Additional Income declared in Survey considered as Business Income not Charged u/s 68, 69A: ITAT [Read Order]

The Jaipur Bench of Income Tax Appellate Tribunal ( ITAT ) ruled that additional income declared in the survey was considered business income and not charged under Sections 69 and 69A of the Income...