Judgement

ITAT rules in favour of Tata Education Trust; holds that exemption u/s 10(34) & 10(35) cannot be denied to charitable trusts for years before s. 11(7).

ITAT Clarifies: Charitable Trusts Eligible for Dividend Exemption Pre-2015; Deficit Can Be Carried Forward

Articles

The Income Tax Department has extended the Tax Audit filing deadline to October 31, 2025, giving taxpayers extra time to submit without penalties.

Extended Tax Audit Date: Here’s Your Last Chance To File!

News

The Income Tax Department has summoned an individual named Rajesh Ranjan to their office to explain the source of funds used for helping flood-affected residents.

Income Tax Dept. Summons an Individual for Distributing Relief Funds to Flood-Affected Villagers

ITAT holds that where an assessee chooses treaty exemption on capital gains in a later year, it does not affect the right to carry forward capital losses computed under domestic law in earlier years.

ITAT Allows Carry Forward of Capital Losses Despite Exemption of Gains under India–Singapore DTAA

ITAT Allows Carry Forward of Capital Losses Despite Exemption of Gains under India-Singapore DTAA

High Court dismisses Revenue’s appeal; upholds ITAT’s order confirming CIT(A)’s restriction of bogus purchase addition to 15% of alleged hawala transactions.

High Court Dismisses Revenue Appeal; Upholds 15% Restriction on Bogus Purchase Addition

ITAT Mumbai confirms that deductions under Sections 36(1)(vii), 36(1)(viia)(c) and 36(1)(viii) are independent; restricts Section 14A disallowance to assessee’s own working and remands lease-premium issue under Section 158A.

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ITAT Clarifies: Charitable Trusts Eligible for Dividend Exemption Pre-2015; Deficit Can Be Carried Forward

Extended Tax Audit Date: Here’s Your Last Chance To File!

Income Tax Dept. Summons an Individual for Distributing Relief Funds to Flood-Affected Villagers

ITAT Allows Carry Forward of Capital Losses Despite Exemption of Gains under India-Singapore DTAA

High Court Dismisses Revenue Appeal; Upholds 15% Restriction on Bogus Purchase Addition

Rs 5.5 Crore 14A Disallowance Cut Down to Rs 1.16 Cr: ITAT Favors Assessee on Rule 8D Misuse