'Tax Year’ Replaces ‘Assessment Year’ Under New Income Tax Act: What Taxpayers Should Know
The new Income Tax Act,2025 will come into force from 1 April 2026. The law removes the concept of Assessment Year and replaces it with Tax Year. The...
![Company Entitled to TDS Credit Even When Corresponding Income Taxed Elsewhere: ITAT Allows Rs. 3.41 Lakh TDS Credit [Read Order]](https://images.taxscan.in/h-upload/2025/12/25/250x150_2114825-company-entitled-to-tds-credit-even-when-corresponding-income-taxed-elsewhere-itat-allows.webp "Company Entitled to TDS Credit Even When Corresponding Income Taxed Elsewhere: ITAT Allows Rs. 3.41 Lakh TDS Credit [Read Order]")
![Prolonged Trustee Suspension, Sealed Records Left Trust Unable to File Returns: Bombay HC Condones Delay for Six Assessment Years [Read Order]](https://images.taxscan.in/h-upload/2025/12/01/250x150_2109223-bombay-hc-taxscan.jfif "Prolonged Trustee Suspension, Sealed Records Left Trust Unable to File Returns: Bombay HC Condones Delay for Six Assessment Years [Read Order]")
![Income Tax SCNs Missed After Accounts Executive Resigned, but Records Show updated Email Actively Used: Madras HC quashes with Cost of 50k to cancer institute [Read Order]](https://images.taxscan.in/h-upload/2025/11/17/250x150_2105865-scn-taxsacn.webp "Income Tax SCNs Missed After Accounts Executive Resigned, but Records Show updated Email Actively Used: Madras HC quashes with Cost of 50k to cancer institute [Read Order]")
Promotion of Industry and Trade is 'General Public Utility': ITAT Directs CIT(E) to Grant Registration U/S 10(23C)(iv), Citing SC Outcome [Read Order]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) directed the Commissioner of Income Tax (Exemptions) [CIT(E)] to grant registration under Section 10(23C)(iv) of the Income Tax Act and...
![Promotion of Industry and Trade is General Public Utility: ITAT Directs CIT(E) to Grant Registration U/S 10(23C)(iv), Citing SC Outcome [Read Order]](https://images.taxscan.in/h-upload/2025/10/25/500x300_2099772-general-public-utility-taxscan.webp "Promotion of Industry and Trade is General Public Utility: ITAT Directs CIT(E) to Grant Registration U/S 10(23C)(iv), Citing SC Outcome [Read Order]")
Apollo Tyres’ Weighted Deduction Claim u/s 35(2AB) Rejected: Supreme Court Refuses to Re-open Case [Read Judgement]
The Supreme Court has dismissed the SLP filed by the Apollo tyres seeking weighted deduction under Section 35(2AB) of the Income-tax Act, 1961, for Research and Development (R&D) expenditure. ...
![Apollo Tyres’ Weighted Deduction Claim u/s 35(2AB) Rejected: Supreme Court Refuses to Re-open Case [Read Judgement]](https://images.taxscan.in/h-upload/2025/09/25/500x300_2090991-appollo-tyres-taxscan.webp "Apollo Tyres’ Weighted Deduction Claim u/s 35(2AB) Rejected: Supreme Court Refuses to Re-open Case [Read Judgement]")
Income Tax Dept Releases Updated Excel Utilities for ITR-5, 6, 7 (AYs 2021-22 & 2022-23) and Offline Utility for ITR-5
The Income Tax Department has announced the release of new return filing utilities on September 6, 2025, to make compliance easier for taxpayers. As per the update, the Department has provided ...
6-Year Limitation Period u/s 153C Commences from Date of Material Handover to AO, Not Date of Search or Notice: Madras HC [Read Order]
In a recent ruling, the Madras High Court held that under Section 153C of the Income Tax Act, the six-year limitation period for issuing a notice to a person other than the one searched begins from...
![6-Year Limitation Period u/s 153C Commences from Date of Material Handover to AO, Not Date of Search or Notice: Madras HC [Read Order]](https://images.taxscan.in/h-upload/2025/08/23/500x300_2079879-6-year-limitation-period-commences-date-of-material-handover-ao-date-of-search-notice-madras-hc-taxscan.webp "6-Year Limitation Period u/s 153C Commences from Date of Material Handover to AO, Not Date of Search or Notice: Madras HC [Read Order]")
Condonation of Delay Over Spam Email: ITAT Remands 12AB Registration Application to CIT(E) [Read Order]
The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) has condoned the delay in filing an appeal after finding that the impugned order had been sent by the department was to the assessee’s spam...
![Condonation of Delay Over Spam Email: ITAT Remands 12AB Registration Application to CIT(E) [Read Order]](https://images.taxscan.in/h-upload/2025/08/15/500x300_2076885-condonation-spam-email-itat-12ab-registration-application-cite-taxscan.webp "Condonation of Delay Over Spam Email: ITAT Remands 12AB Registration Application to CIT(E) [Read Order]")
ITAT Scraps Rs. 14.2 Crore 'On-Money' Tax Demand: No Evidence Found Against Real Estate Firm [Read Order]
The Income Tax Appellate Tribunal (ITAT), Pune bench, has quashed a ₹14.2 crore tax demand against a real estate firm, ruling that the income tax department failed to provide concrete evidence to...
![ITAT Scraps Rs. 14.2 Crore On-Money Tax Demand: No Evidence Found Against Real Estate Firm [Read Order]](https://images.taxscan.in/h-upload/2025/08/04/500x300_2072965-itat-on-money-tax-demand-real-estate-firm-taxscan.webp "ITAT Scraps Rs. 14.2 Crore On-Money Tax Demand: No Evidence Found Against Real Estate Firm [Read Order]")
Once Resolution Plan has approved by NCLT Commercial Tax Department cannot create further dues: Allahabad HC [Read Order]
In a recent case, the Allahabad High Court quashed the passed under section 28(2) (ii) of the U.P. VAT Act 2008 and under section 9(4) of the U.P. Tax on Entry of Goods Act 2007 demanding tax,...
![Once Resolution Plan has approved by NCLT Commercial Tax Department cannot create further dues: Allahabad HC [Read Order]](https://images.taxscan.in/h-upload/2025/08/01/500x300_2072105-allahabad-high-court-resolution-plan-nclt-taxscan.webp "Once Resolution Plan has approved by NCLT Commercial Tax Department cannot create further dues: Allahabad HC [Read Order]")