Judgement

As both judges gave different views and opinions, the matter was sent before the Chief Justice of India for constituting a larger Bench.

Supreme Court Judges give divergent views on Deadline for Tax Assessment Involving Foreign Companies

Tribunal remands appeals on additions u/s 69 and 69A to CIT(A) after condoning delay on medical grounds; imposes Rs. 2,500 cost in each appeal.

ITAT Sets Aside CIT(A) Orders in Unexplained Investment and Cash Deposit Cases, Imposes Costs

News

The IT Department has prosecuted two city-based software professionals in Hyderabad, allegedly for defrauding the tax system, even after awarding them a chance to correct their tax return through the ITR-U facility.

Fake Tax Deductions: IT Dept. Prosecutes Two Hyderabad Techies for Misusing Updated Tax Return (ITR-U) Facility

Articles

Section 10(10D) exemption on life insurance maturity is denied if premiums exceed specified limits, making the payout taxable under Section 56(2)(xiii). Know these limits.

Life Insurance and Income Tax: When Does Section 10(10D) Exemption Not Apply?

When the income tax department finds some mismatches or incomplete information in your return, it may be treated as a defective return.

ITR Filing 2025: When Does Return Become Defective?

ITAT remands trust’s 12A registration case; holds short notice period contrary to CBDT SOP and natural justice; directs CIT(E) to grant one final hearing

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Supreme Court Judges give divergent views on Deadline for Tax Assessment Involving Foreign Companies

ITAT Sets Aside CIT(A) Orders in Unexplained Investment and Cash Deposit Cases, Imposes Costs

Fake Tax Deductions: IT Dept. Prosecutes Two Hyderabad Techies for Misusing Updated Tax Return (ITR-U) Facility

Life Insurance and Income Tax: When Does Section 10(10D) Exemption Not Apply?

ITR Filing 2025: When Does Return Become Defective?

ITAT Trust’s 12A Registration Application After Short Notice Period Violated Natural Justice