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Income Tax Act

Exemption u/s 11 and 12 for Charitable Trusts Can't Be Denied on Mere Technical Errors : ITAT [Read Order]

Nandan GK

In a recent ruling, the Income Tax Appellate Tribunal (ITAT) Pune bench held that the exemption under sections 11 and 12 of the Income Tax Act, 1961,...

25 Days Delay in Filing Audit report due to Covid 19 Pandemic: Kerala HC sets aside Income Tax Order...

Reassessment Notice Beyond 10 Years Limit: Delhi HC Quashes Notice u/s 149 of Income Tax Act [Read...

Natural Justice Prevails: ITAT Grants Assessee Fresh Hearing Opportunity Subject to Rs. 2,000 Cost...

Advance Tax Alert - Penalty - Section 234C - taxscan

Advance Tax Alert: Missed the March 15 Deadline? Avoid S. 234C Penalty with This Option

Old PAN used for Reopening Assessment: ITAT dismisses Revenue's Appeal citing cancellation of Old PAN duly Communicated [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) has dismissed the revenue’s appeal against the reopening of assessment based on old pan citing that the cancellation of old pan duly...

ITAT Remands Case Back, Grants Fresh Opportunity for Registration under Sections 12AB and 80G [Read Order]

The Income Tax Appellate Tribunal (ITAT) Mumbai Bench remanded the case of a Trust back to the Commissioner of Income Tax (Exemptions) CIT(E), granting the trust a fresh opportunity to seek...

ITAT Strikes Down Excessive S.14A Disallowance Due to AO’s Failure to Record Dissatisfaction [Read Order]

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) struck down an excessive disallowance made under Section 14A of the Income Tax Act, 1961 as the Assessing Officer (AO) had failed to...

Section 14A Disallowance Invalid in Absence of Exempt Income: ITAT dismisses Revenue’s Appeal [Read Order]

The Pune Bench of the Income Tax Appellate Tribunal (ITAT) held that the disallowance under Section 14A of the Income Tax Act, 1961, was invalid due to the absence of exempt income. The revenue...

Income Tax Act, 1961 v/s Income Tax Bill 2025: Key Provision Changes

The much-anticipated Income Tax Bill, 2025, is set to replace the Income Tax Act, 1961, which has completed more than six decades being in-force. The New Income Tax Bill 2025 tabled by Union Finance...

ITAT Orders Reassessment in ₹1.8 Cr Capital Gains Case, directs AO to Review E-Notices and Deductions u/s 54 of Income Tax Act [Read Order]

The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) directed the assessing officer (AO) to reassess the appellant’s case, a dispute on capital gains taxation for the assessment year(AY)...

Income Tax Bill 2025: Defines Online Gaming and Updates Tax Rules on Winnings

The Income Tax Bill 2025, scheduled to be introduced in Parliament on February 13, aims to bring greater clarity to the taxation of online gaming winnings by introducing a well-defined framework and...

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