Articles

The updates to capital gains tax in the Income Tax Act, 2025, outline easier rules, a standard LTCG rate of 12.5%, fewer indexation benefits, and new ways to handle various assets.

Overview of New Capital Gains Tax Structure under Income Tax Act, 2025

In FY 2026-27, it’s important to keep track of all income tax deadlines so you can file your returns on time and avoid any penalties or unnecessary trouble.

Income Tax Calendar for FY 2026-27: Key Deadlines Every Taxpayer Should Know 

Judgement

The ITAT quashed a Rs 18.94 lakh penalty, holding that vague and non-specific penalty notices violate principles of natural justice and cannot be sustained in law.

ITAT deletes penalty in fake Income Tax deduction case for Defective Penalty Notice

The Tribunal held that DTAA provisions override the provisions of the Income Tax Act, and rules cannot reduce any relief given under the Act or the DTAA.

ITAT Chennai Allows Foreign Tax Credit Claim Despite Late Filing of Form 67

The Tribunal held that mechanical reopening does not meet the requirement of "reason to believe" as per section 147 of the Income Tax Act.

Reopening Without Independent Verification by AO is Bad in Law: ITAT

Reopening Income Tax case without Independent Verification by AO is Bad in Law: ITAT

News

General Insurance Corporation of India receives Rs 350.47 crore tax demand, plans to appeal before NFAC

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Overview of New Capital Gains Tax Structure under Income Tax Act, 2025

Income Tax Calendar for FY 2026-27: Key Deadlines Every Taxpayer Should Know

ITAT deletes penalty in fake Income Tax deduction case for Defective Penalty Notice

ITAT Chennai Allows Foreign Tax Credit Claim Despite Late Filing of Form 67

Reopening Income Tax case without Independent Verification by AO is Bad in Law: ITAT

General Insurance Corporation of India Faces Rs 350.47 Crore Income Tax Demand